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Public pensions and international migration: some clarifications and illustrative results

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  • MUNZ, SONJA
  • WERDING, MARTIN

Abstract

Immigration is often thought of as a measure suited to mitigate the fiscal consequences of demographic ageing for unfunded public pension schemes. Building on Sinn (1997), the paper explores in some more detail the conditions under which immigrants are a net fiscal asset for national pension budgets not only on a temporary basis – i.e., as long as they are paying contributions and before they start drawing benefits – but also in the long run. Illustrative simulations are provided for the cases of Germany, Italy, the UK, and the US. It turns out that the value of immigrants depends on the nature of the pension scheme (Bismarck vs Beveridge). Also, it is strongly affected by the immigrants' characteristics in terms of skills and fertility. Furthermore, effects differ substantially for the cases of temporary vs permanent migration.

Suggested Citation

  • Munz, Sonja & Werding, Martin, 2005. "Public pensions and international migration: some clarifications and illustrative results," Journal of Pension Economics and Finance, Cambridge University Press, vol. 4(2), pages 181-207, July.
    • Handle: RePEc:cup:jpenef:v:4:y:2005:i:02:p:181-207_00
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    Cited by:

    1. Martin Werding & Stuart R. McLennan, 2015. "International Portability of Health-Cost Cover: Mobility, Insurance, and Redistribution," CESifo Economic Studies, CESifo Group, vol. 61(2), pages 484-519.
    2. Volker Meier & Martin Werding, 2010. "Ageing and the welfare state: securing sustainability," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 655-673, Winter.
    3. Wido Geis & Silke Uebelmesser & Martin Werding, 2013. "How do Migrants Choose Their Destination Country? An Analysis of Institutional Determinants," Review of International Economics, Wiley Blackwell, vol. 21(5), pages 825-840, November.
    4. Werding, Martin & McLennan, Stuart, 2011. "International portability of health-cost coverage : concepts and experience," Social Protection Discussion Papers and Notes 63929, The World Bank.
    5. Felipe SERRANO & Begoña EGUÍA & Jesús FERREIRO, 2011. "Public pensions' sustainability and population ageing: Is immigration the solution?," International Labour Review, International Labour Organization, vol. 150(1-2), pages 63-79, June.
    6. Mariangela Bonasia & Rita De Siano, 2016. "Population Dynamics and Regional Social Security Sustainability in Italy," Regional Studies, Taylor & Francis Journals, vol. 50(1), pages 124-136, January.

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