pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

attention to the rules of retirement in Hungary since 1990. In every pension system, there exist two rules which determine how … the lifetime contribution (which is approximately proportional to the years of contributions) and the retirement age … a mandatory life insurance and life annuity system. More generally, we speak of flexible retirement if adding a year to …

that financial incentives for early retirement stem mainly from the Austrian tax system and not from the pension system …

We exploit a comprehensive restructuring of the early retirement system in Norway in 2011 to examine labor supply … responses to alternative pension reform strategies relying on improved work incentives (flexibility) or increased access ages …

62). The more recent data boost our sample size, allowing us to estimate the impact of the reform with greater precision …

the reform. The employment response is driven disproportionately by full-time workers and self-employed men, and is larger …

In 2011, the Hungarian government introduced seniority pensions (Female40): females, who have been accumulating at … reduction. The elimination of other early retirement scheme in 2012 and slowly rising real wages made the program even more … popular: the lifetime benefit was maximized at the earliest retirement. Since 2016, real wages have been growing rather fast …

future employment. Exploiting across cohort variation in expected pension wealth induced by a 3-year lift in early retirement … age for women born after 1951 in Germany, we show evidence of a reduction in private savings rate and an increase in …