The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a...

Demographic challenges and labor market potentials for the German pension system - Evaluation of the German pension reform process - Notional defined contribution systems as a reform alternative - Intergenerational distribution and deterministic and stochastic internal rates of return.