Distributional effects of subsidizing retirement savings accounts: Evidence from Germany

Arbeitspapier

We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the population, but only 7.3% to the bottom two. Nonetheless the Riester scheme is almost distributionally neutral when looking at standard inequality measures. This is due to two offsetting effects: a progressive one stemming from the subsidy schedule and a regressive one from voluntary participation. Regressions of the participation decision suggest that a high level of household wealth significantly increases the probability of benefiting from the Riester scheme.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Diskussionsbeiträge ; No. 2015/18

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Personal Income, Wealth, and Their Distributions ; Social Security and Public Pensions ; Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions ; Household Saving; Personal Finance ; Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs
• Thema: saving subsidies ; retirement plans ; income distribution

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Corneo, Giacomo ; Schröder, Carsten ; König, Johannes
• Ereignis: Veröffentlichung
• (wer): Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
• (wo): Berlin
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/110989
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ