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25 earning $40,000 with no previous savings would need a total contribution rate (employee and employer combined) of less …
Persistent link: https://www.econbiz.de/10013025192
(DC) retirement plans. Retired households need to manage risks and generate income from their savings. We study the …
Persistent link: https://www.econbiz.de/10013035436
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
-related questions is stronger in the presence of an underfunded public pension system, where current pensions are paid for by current …
Persistent link: https://www.econbiz.de/10014023481
This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...
Persistent link: https://www.econbiz.de/10013554899
Persistent link: https://www.econbiz.de/10011438237
The main purpose of minimum pension benefit programs and old-age social assistance programs is to guarantee a minimum standard of living after retirement and thus to alleviate poverty in old age. In many developing and developed countries, the minimum pension program is a key welfare program and...
Persistent link: https://www.econbiz.de/10011420305
The dependence of benefit on the retirement age (the schedule) is an important feature in any public pension system. The nonfinancial defined contribution (NDC) pension system has recently become popular mainly because of its allegedly actuarial fairness. Using the framework of mechanism design...
Persistent link: https://www.econbiz.de/10010429132
Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...
Persistent link: https://www.econbiz.de/10011339670