Regressive intracohort redistribution in nonfinancial defined contribution pension

Arbeitspapier

Nonfinancial defined contribution (NDC) pension systems have recently become popular because they provide the strong incentives of the private funded systems without requiring a difficult transition period. Using the framework of mechanism design, these systems have theoretically been criticized because they neglect the regressive intracohort redistribution: longer lived workers retire later and are rewarded as if their life expectancies were average. Now we document this by Hungarian data, and giving up the framework of mechanism design, we corroborate our earlier qualitative findings withthe more realistic benefit adjustment function and wage heterogeneity.

Angaben zum Objekt

• ISBN: 978-615-5243-65-3
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IEHAS Discussion Papers ; No. MT-DP - 2013/12

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Optimization Techniques; Programming Models; Dynamic Analysis ; Computational Techniques; Simulation Modeling ; Asymmetric and Private Information; Mechanism Design ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Social Security and Public Pensions
• Thema: nonfinancial defined contributions ; variable retirement ; adverse selection ; actuarial fairness ; Altersvorsorge ; Gesetzliche Rentenversicherung ; Adverse Selektion ; Ungarn

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Simonovits, András
• Ereignis: Veröffentlichung
• (wer): Hungarian Academy of Sciences, Institute of Economics, Centre for Economic and Regional Studies
• (wo): Budapest
• (wann): 2013

Weitere Informationen

• Handle: http://hdl.handle.net/10419/108288
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ