Arbeitspapier

Flexible Pension Take-up in Social Security

This paper studies the redistribution and welfare effects of increasing the flexibility of individual pension take-up. We use an overlapping-generations model with Beveridgean pay-as-you-go pensions, where individuals differ in ability and life span. We find that introducing flexible pension take-up can induce a Pareto improvement when the initial pension scheme contains within-cohort redistribution and induces early retirement. Such a Pareto-improving reform entails the application of uniform actuarial adjustment of pension entitlements based on average life expectancy. Introducing actuarial non-neutrality that stimulates later retirement further improves such a flexibility reform.

Sprache
Englisch

Erschienen in
Series: Tinbergen Institute Discussion Paper ; No. 13-091/VI

Klassifikation
Wirtschaft
Social Security and Public Pensions
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Retirement; Retirement Policies
Thema
redistribution
retirement
flexible pensions
Flexible Altersgrenze
Rentenreform
Wohlfahrtsanalyse
Umlageverfahren
Pareto-Optimum
Overlapping Generations
Theorie

Ereignis
Geistige Schöpfung
(wer)
Adema, Yvonne
Bonenkamp, Jan
Meijdam, Lex
Ereignis
Veröffentlichung
(wer)
Tinbergen Institute
(wo)
Amsterdam and Rotterdam
(wann)
2013

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Adema, Yvonne
  • Bonenkamp, Jan
  • Meijdam, Lex
  • Tinbergen Institute

Entstanden

  • 2013

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