Artikel

The efficiency wage effect of employer provided occupational pensions

Using new linked employer-employee data from Germany, this article provides the first evidence on the effect of employer provided occupational pensions on work engagement. Famous efficiency wage theories predict that pensions enhance effort if a risk of forfeiture of pension claims is present. Exploiting the German non-forfeiture clause for employer-provided pensions, the results are consistent with the theoretical prediction and show that pensions in combination with the risk of forfeiture exert a positive effect on work engagement. Since occupational pension claims are selectively distributed across establishments, I control for establishment heterogeneity, but point estimates remain of the same size. Conditional quantile regression estimates indicate that especially the lower end of the engagement distribution is affected, which suggests that pensions combined with the risk of forfeiture are effective to reduce incentives for shirking.

Sprache
Englisch

Erschienen in
Journal: IZA Journal of European Labor Studies ; ISSN: 2193-9012 ; Volume: 4 ; Year: 2015 ; Issue: 8 ; Pages: 1-17 ; Heidelberg: Springer

Klassifikation
Wirtschaft
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Retirement; Retirement Policies
Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
Thema
Occupational pensions
Non-forfeiture clause
Efficiency wages
Delayed compensation
Work engagement

Ereignis
Geistige Schöpfung
(wer)
Bossler, Mario
Ereignis
Veröffentlichung
(wer)
Springer
(wo)
Heidelberg
(wann)
2015

DOI
doi:10.1186/s40174-015-0031-4
Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

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Objekttyp

  • Artikel

Beteiligte

  • Bossler, Mario
  • Springer

Entstanden

  • 2015

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