Arbeitspapier
Will it Last? An Assessment of the 2001 German Pension Reform
In May 2001, Germany adopted a fundamental pension reform cutting back public pensions and introducing personal pension accounts. The paper critically reviews the reform decisions and evaluates their long-term viability. It is shown that the adjustment of the Public Pension Scheme misses the proclaimed contribution rate and replacement ratio targets already under moderate economic conditions. However, the new private pension plans provide scope for further downsizing state pensions, necessary beyond 2025. As the enacted savings rate target is conservative, individual pensions keep retirement income sufficient even if returns to pension funds are low due to legal restrictions on savings vehicles.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 343
- Klassifikation
-
Wirtschaft
International Migration
General Outlook and Conditions
- Thema
-
Pension reform
pension funding
fiscal projections
Germany
Gesetzliche Rentenversicherung
Rentenreform
Wirtschaftspolitische Wirkungsanalyse
Alterssicherung
Sozialversicherungsbeitrag
Sparen
Rendite
Prognose
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bonin, Holger
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bonin, Holger
- Institute for the Study of Labor (IZA)
Entstanden
- 2001