Population aging will be a major determinant of long-run economic development in industrial and developing countries. The extent of the demographic changes is dramatic in some countries and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and...

Axel Börsch-Supan, Tabea Bucher-Koenen und Johannes Rausch, MEA – Munich Center for the Economics of Aging am Max-Planck-Institut für Sozialrecht und Sozialpolitik, München, zeigen, dass die Lage der GRV bis 2030, dem Zeithorizont des aktuellen Rentenversicherungsberichts, stabil im Sinne...

Im Koalitionsvertrag vom 14. März 2018 wird angekündigt, die Leistungen und Beiträge der Gesetzlichen Rentenversicherung durch eine sogenannte »doppelte Haltelinie« festzuschreiben. Konkret soll das Netto-Standardrentenniveau vor Steuern nicht unter 48% absinken und gleichzeitig der...

Thanks to the reform process between 1992 and 2007, Germany was in a very good position to master demographic change. These reforms were farsighted, they stabilised the public pension system and they significantly increased employment, the foundation of every old age provision. The 'Pension...

This paper examines the generosity of the European welfare state toward the elderly. It shows how various dimensions of the welfare regimes have changed during the past 10 to 15 years and how this evolution is related to the process of economic integration. Dimensions include general generosity...

Pension economics has traditionally guided pension policy with the help of formal models based on individuals who think in a life cycle context with perfect foresight, full information, and in a time-consistent manner. This paper sheds light on selected aspects of pension economics when these...

German pension policy faces a dilemma. If it is too generous, it harms contributors, disincentivises labour supply, and crowds out education and infrastructure investment needed to pay for social protection. If it is too frugal, it harms those with social and health issues. Thus, smart...

About 20% of German workers retire on disability pensions. Disability pensions provide fairly generous benefits for those who are not already age-eligible for an old-age pension and who are deemed unable to work for health reasons. In this paper, we use two sets of individual survey data to...