English, Article, Journal or magazine article edition: Pension Reform in Germany: The Impact on Retirement Decisions Axel Borsch-Supan; Barbara Berkel; Axel Börsch-Supan

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Bookmark: http://trove.nla.gov.au/version/68536
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Pension Reform in Germany: The Impact on Retirement Decisions
Author
  • Axel Borsch-Supan
  • Barbara Berkel
  • Axel Börsch-Supan
Physical Description
  • preprint
Notes
  • RePEc:xrs:meawpa:04062
  • The paper examines the long-term implications of various reform options on retirement entry decisions and the actual retirement age of older workers. It focuses on the changes in pension legislation since 1992 and the reform options discussed by the German Social Security Reform Commission installed in 2002 (“Rürup Commission”). Our simulations show that the early-retirement adjustment factors introduced by the 1992 pension reform will raise the average effective retirement age for men by almost two years. The two-year increase in all relevant age limits proposed by the “Rürup Commission” would raise retirement age of men by another eight months.
  • RePEc:mea:meawpa:04062
  • The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper focuses in particular on the long-term implications of the changes implemented in pension legislation since 1992 and the reform options discussed by the German Social Security Reform Commission installed in 2002, the so called R?rup Commission'. Our simulations show that the early-retirement pension adjustment factors introduced by the 1992 pension reform will, in the long term, raise the average effective age of retirement for men by somewhat less than two years. The across-the-board two-year increase in all the relevant age limits proposed by the R?rup Commission' would raise the effective average age of retirement of men by about eight months. If the actuarial adjustment factor is increased from 3.6% to 6% per year, the effective average retirement age rises by almost two years. The effects are considerably weaker for women.
  • RePEc:nbr:nberwo:9913
  • RePEc:xrs:meawpa:03036
  • The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper focuses in particular on the long-term implications of the changes implemented in pension legislation since 1992 and the reform options discussed by the German Social Security Reform Commission installed in 2002, the so called "Rürup Commission". Our simulations show that the early-retirement pension adjustment factors introduced by the 1992 pension reform will, in the long term, raise the average effective age of retirement for men by somewhat less than two years. The across-the-board two-year increase in all the relevant age limits proposed by the "Rürup Commission" would raise the effective average age of retirement of men by about eight months. If the actuarial adjustment factor is increased from 3.6% to 6% per year, the effective average retirement age rises by almost two years. The effects are considerably weaker for women.
  • RePEc:mea:meawpa:03036
Language
  • English
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