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The Crowding-Out Effect of Mandatory Labour Market Pension Schemes on Private Savings : Evidence from Renters in Denmark
Arnberg, Soren; Barslund, Mikkel - 2013
total household savings for renters. The effect is identified via a large panel of individual administrative records …. We find little substitutability between current mandatory labour market pension savings and private voluntary savings …. Each euro paid into mandatory labour market pension accounts results in a reduction in private savings of approximately 0 …
Persistent link: https://www.econbiz.de/10014151619
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Reform and Backlash to Reform : Effects of Ageing and Retirement Policy
Hougaard Jensen, Svend E. - 2010
Using a stochastic general equilibrium model with overlapping generations, this paper studies (i) the effects on both extensive and intensive labour supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to mitigate the effects of fertility changes on...
Persistent link: https://www.econbiz.de/10013136598
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The Consequences of Indexed Debt for Welfare and Funding Ratios in the Dutch Pension System
Beetsma, Roel M. W. J.; Bucciol, Alessandro - 2011
Using a model of a two-pillar pension system, designed after and calibrated to the Dutch situation, we explore for the funding ratio of pension funds and the welfare of individuals the implications of replacing nominal debt in the pension fund's portfolio with indexed debt. We consider...
Persistent link: https://www.econbiz.de/10014183817
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Savings Adequacy Uncertainty : Driver or Obstacle to Increase Pension Contributions
van Schie, Ron - 2011
the impact of uncertainty about one's savings adequacy on retirement savings contributions and information search. We … retirement savings contributions. Accordingly, our results show that the effect of uncertainty is moderated by two factors: an … individual's perceived adequacy of current savings and financial constraints. In particular, we find that uncertainty triggers …
Persistent link: https://www.econbiz.de/10013117238
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Optimal Risk Sharing in a Collective Defined Contribution Pension System
Bams, Dennis - 2016
We analyze a collective defined contribution pension fund which aims at intergenerational risk sharing among different age cohorts using a return smoothing mechanism. Using a utility based framework, we find that approximately one third of unexpected return shocks should be directly passed on to...
Persistent link: https://www.econbiz.de/10012994220
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How Risky is Pension Wealth?
Guiso, Luigi; Jappelli, Tullio; Padula, Mario - 2010
Using a representative sample of Italian investors, we estimate the risk associated with social security benefits by eliciting for each individual the subjective distribution of the replacement rate as a summary indicator of social security wealth. Pension risk varies across individuals in a way...
Persistent link: https://www.econbiz.de/10014188652
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Risk Sharing in Defined-Contribution Funded Pension System
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equivalent variations. While...
Persistent link: https://www.econbiz.de/10013117291
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Actuarial Fairness When Longevity Increases : An Evaluation of the Italian Pension System
Belloni, Michele - 2011
In this study, we analyse the actuarial features of the Italian pension system after the 1995 reform. We consider both the old defined benefit, the pro-rata and the new notional defined contribution pension rules applied to private sector employees born between 1945 and 2000. In the...
Persistent link: https://www.econbiz.de/10013117345
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Longevity, Annuities and the Political Support for Public Pensions
Cremer, Helmuth - 2011
We develop a model where individuals differ in productivity and in longevity. Benefits from the public pay-as-you-go pension system take the form of a collective annuity, with both a contributive (Bismarckian) component (based on the worker's past earnings) and a flat (Beveridgean) part. Voters...
Persistent link: https://www.econbiz.de/10013122325
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Implications of Full and Partial Retirement for Replacement Rates in a Defined Benefit System
Kantarci, Tunga - 2011
In this paper we use the actual rules and formulas of an occupational pension fund, the state pension fund and the tax system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement scenarios. We then vary the parameters of the pension...
Persistent link: https://www.econbiz.de/10013123970