equal pensions for all but different contributions which may or may not increase with the number of children. Additionally … case, pensions are decreasing in the number of children: in the latter case, they are increasing. …

constructed for revenue and expenditure. They show that the rising number of social benefit earners (pensions, unemployment) is …

smoothly over lifetime consumption. When stock markets are depressed equity should be bought, savings and consumption should be …

these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …

percentage point change in the share of men choosing to annuitize their savings. We also show that the estimated responsiveness …