undergoing fundamental reforms in many Western countries. Starting with cohort 1937, Germany introduced permanent pension … background of this reform for cohorts 1935-1945. I measure the profitability with the internal rate of return (IRR) and use high … that the deductions introduced by the reform only cause some part of this trend. The majority of the trend, about 75 …

undergoing fundamental reforms in many Western countries. Starting with cohort 1937, Germany introduced permanent pension … background of this reform for cohorts 1935-1945. I measure the profitability with the internal rate of return (IRR) and use high … that the deductions introduced by the reform only cause some part of this trend. The majority of the trend, about 75 …

partner. Due to survivor pensions, married insurants benefit from higher IRR as compared to the non-married. Interestingly …

public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or not, but …

effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or …

at policy in 13 reforming countries. It concludes that older workers are best excluded from reform, because the economic …

Western societies. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper … examines the evolution of the profitability of pension contributions against the background of this reform for cohorts 1935 … the reform only cause some part of this trend, with a major part caused by increases in contributions. …