According to Max Weber, affectual action is one of four types of behavior. This type of action differs from instrumentally rational behavior in a way that the actors do not deliberately choose means with respect to certain ends, but are driven by their emotions prevalent in the situation. The...

Demographic change confronts the German Pay-As-You-Go pension system with serious problems. For this reason, reductions in the level of public pensions were adopted under the pension reform in 2001, which also strengthened significantly the funded second and third pillars of old-age provision....