In 2001, the voluntary additional Riester pension scheme was implemented in Germany. Financial subsidies should incentivize people to increase their private pension savings. In this paper, we hypothesize that these publicly subsidized savings mainly replace existing not subsidized savings and that supplier induced demand is an important factor. Using data from the Socio‐economic Panel we analyze the key determinants in the choice of a Riesterpension. We find greater participation of those who already have life insurance or other public subsidied savings. Furthermore, we show that a contact with an insurance agent in the previous year is a major factor for the possession of a Riester‐pension.
{"title":"Demand Inducement, Crowding In and the German Riester Pension Scheme: An Empirical Analysis (in German)","authors":"Christian Pfarr, U. Schneider","doi":"10.2139/SSRN.1488021","DOIUrl":"https://doi.org/10.2139/SSRN.1488021","url":null,"abstract":"In 2001, the voluntary additional Riester pension scheme was implemented in Germany. Financial subsidies should incentivize people to increase their private pension savings. In this paper, we hypothesize that these publicly subsidized savings mainly replace existing not subsidized savings and that supplier induced demand is an important factor. Using data from the Socio‐economic Panel we analyze the key determinants in the choice of a Riesterpension. We find greater participation of those who already have life insurance or other public subsidied savings. Furthermore, we show that a contact with an insurance agent in the previous year is a major factor for the possession of a Riester‐pension.","PeriodicalId":325559,"journal":{"name":"SS: Social Security Reform (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115550596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article illustrates the problems of senior pension holders who may be involved in marriage-like relationships under the Social Security Act 1991. The article shows how an expanded definition of these relationships in 1995 has caught a wider group of couples who may suffer a reduction of pension. At the same time the article traces the concept of cohabitation through a change in the meaning of the concept of 'dependency'. This approach shows how this key indicator of cohabitation has shifted or expanded with the recognition of new forms of relationships.
{"title":"'Marriage-Like Relationships' and Social Security: Retirees and the Age-Pension","authors":"M. Voyce","doi":"10.2139/SSRN.1106030","DOIUrl":"https://doi.org/10.2139/SSRN.1106030","url":null,"abstract":"This article illustrates the problems of senior pension holders who may be involved in marriage-like relationships under the Social Security Act 1991. The article shows how an expanded definition of these relationships in 1995 has caught a wider group of couples who may suffer a reduction of pension. At the same time the article traces the concept of cohabitation through a change in the meaning of the concept of 'dependency'. This approach shows how this key indicator of cohabitation has shifted or expanded with the recognition of new forms of relationships.","PeriodicalId":325559,"journal":{"name":"SS: Social Security Reform (Topic)","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124621807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article examines this social security issue in Australia where couples share a home and care for each other. Such 'careers' as well as 'long term friends' and 'divorcees and ex-partners' living together, could have their welfare benefits and allowances reduced under current welfare law in Australia, as their relationship could be seen as a marriage-like relationship.
{"title":"'Marriage-Like Relationships' and Social Security in Australia: From Governing the 'Moral Character' of the Family to Governing in the Context of Neoliberalism","authors":"M. Voyce","doi":"10.2139/SSRN.1107578","DOIUrl":"https://doi.org/10.2139/SSRN.1107578","url":null,"abstract":"This article examines this social security issue in Australia where couples share a home and care for each other. Such 'careers' as well as 'long term friends' and 'divorcees and ex-partners' living together, could have their welfare benefits and allowances reduced under current welfare law in Australia, as their relationship could be seen as a marriage-like relationship.","PeriodicalId":325559,"journal":{"name":"SS: Social Security Reform (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128448581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift from PAYG to funding is thus an uneasy one. There is nonetheless growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role of the public sector in pension provision.
{"title":"Should Public Pensions Be Funded?","authors":"R. Hemming","doi":"10.1111/1468-246X.00036","DOIUrl":"https://doi.org/10.1111/1468-246X.00036","url":null,"abstract":"This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift from PAYG to funding is thus an uneasy one. There is nonetheless growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role of the public sector in pension provision.","PeriodicalId":325559,"journal":{"name":"SS: Social Security Reform (Topic)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1998-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"118969507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1990-03-01DOI: 10.5089/9781451924084.001
Liam P. Ebrill
This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds should be saved to help insulate living stands against this change. A number of illustrative scenarios are presented in which the impact of pursuing this policy is analyzed within the context of a growth model incorporating the demographic projections of the Social Security Administration. If the current unified budget framework, which includes Social Security trust fund flows, is retained, the suggested policy would require that fiscal surpluses be achieved.
{"title":"Social Security, Demographic Trends, and the Federal Budget","authors":"Liam P. Ebrill","doi":"10.5089/9781451924084.001","DOIUrl":"https://doi.org/10.5089/9781451924084.001","url":null,"abstract":"This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds should be saved to help insulate living stands against this change. A number of illustrative scenarios are presented in which the impact of pursuing this policy is analyzed within the context of a growth model incorporating the demographic projections of the Social Security Administration. If the current unified budget framework, which includes Social Security trust fund flows, is retained, the suggested policy would require that fiscal surpluses be achieved.","PeriodicalId":325559,"journal":{"name":"SS: Social Security Reform (Topic)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116269403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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