One Pillar Crumbling, the Others too Short: Old-Age Provision in Germany

Arbeitspapier

Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked contrast to the situation in Anglo-Saxon countries. It has advantages if labour markets are strong, e.g., following a quick recovery from the Great Recession. It has disadvantages, as Germany will be ageing very rapidly in the near future. Following a series of reforms, benefit levels will decline, while contribution rates still go up, and additional cover from private or occupational pension schemes is urgently needed. Thus far, steps in this direction have been half-hearted, and the financial crisis impedes a further shift. Nevertheless, despite the differing traditions, important aspects in current debates now converge to those discussed in the UK or the US.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 5760

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications ; Financial Institutions and Services: Government Policy and Regulation ; Social Security and Public Pensions ; Demographic Trends, Macroeconomic Effects, and Forecasts ; Retirement; Retirement Policies
• Thema: old-age provision ; public pensions ; occupational pensions ; pre-cautionary saving ; demographic ageing ; pension reform ; simulations

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Werding, Martin
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2016

Weitere Informationen

• Handle: http://hdl.handle.net/10419/128463
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ