Artikel

A New Pension Formula: For More Fairness and Less Old-Age Poverty

The statutory pension insurance system is set up according to the principle of participatory equivalence. This principle seeks to hold pension claims at a specific ratio to paid contributions so that a redistribution of income does not take place. In truth, however, there is a massive redistribution in favor of wage earners with higher incomes, as these individuals draw on their pensions for a longer period of time due to their greater statistical life expectancy. If life expectancy was taken into consideration in the pension formula, this would not only lead to greater distributional neutrality, it would also lead to significantly less old-age poverty among long-term contributors to the pension system.

Language: Englisch

Bibliographic citation: Journal: Weekly Report ; ISSN: 1860-3343 ; Volume: 5 ; Year: 2009 ; Issue: 8 ; Pages: 50-54 ; Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)

Classification: Wirtschaft
Social Security and Public Pensions
Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs

Subject: Social security
Life expectancy
Poverty
Redistribution

Event: Geistige Schöpfung

(who): Breyer, Friedrich
Hupfeld, Stefan

Event: Veröffentlichung

(who): Deutsches Institut für Wirtschaftsforschung (DIW)

(where): Berlin

(when): 2009

Handle: http://hdl.handle.net/10419/151047

Last update: 10.03.2025, 11:42 AM CET

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Object type

Artikel

Associated

Breyer, Friedrich
Hupfeld, Stefan
Deutsches Institut für Wirtschaftsforschung (DIW)

Time of origin

2009

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A New Pension Formula: For More Fairness and Less Old-Age Poverty

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Other Objects (12)

Fairness of Public Pensions and Old-Age Poverty

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