Pension Schemes: Limiting PAYG to Increase Savings?
The introduction of a funded pension scheme to complement an existing payg scheme is often presented as a way of increasing savings. Indeed, agents expecting to benefit from a payg pension when they cease to work cut their retirement savings flows. But a comparison between countries with different retirement schemes contradicts this pattern. Nor does taking into account population structures explain per se the spread in savings between countries. This spread can only be justified by differences in expected returns or causes of uncertainty and a preference for the present. In continental Europe, the impact of pension scheme reforms on savings is thus uncertain.
demoeconomics; income; pensions; savings; behaviour of economic agents
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.