Arbeitspapier
Incentives to retire later : a solution to the social security crisis?
As one possible solution to the well-known financing crisis of unfunded social security systems, an increase in the retirement age is a popular option. To induce workers to retire later, it has been proposed to strengthen the link between retirement age and benefit level. The present paper is devoted to analyzing the long-run financial implications of such a reform. We show that with actuarial adjustments the long-run contribution rate is an increasing function of the retirement age chosen by workers. Moreover, the implicit tax paid to the pension system by a participant can increase in the long run if the retirement age rises in response to a "steep" adjustment rule. In this sense, the proposed "cure" may worsen the disease. Finally, we propose an alternative adjustment scheme which avoids these negative consequences. Finally, we show how the negative effects can be avoided by forming a capital stock from the additional revenues due to later retirement.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 266
- Klassifikation
-
Wirtschaft
Social Security and Public Pensions
Demographic Economics: Public Policy
- Thema
-
Umlageverfahren
Rentenzugangsalter
versicherungsmathematische Zuschläge
Pay-as-you-go
retirement age
actuarial adjustment
Altersgrenze
Arbeitsangebot
Ökonomischer Anreiz
Gesetzliche Rentenversicherung
Umlageverfahren
Äquivalenzprinzip
Theorie
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Breyer, Friedrich
Kifmann, Mathias
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Breyer, Friedrich
- Kifmann, Mathias
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2001
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