Individual Private Retirement Insurances: holding behaviours among pensioners
AbstractIn the current context of demographic pressures, reforms of PAYG pension systems increase the extent to which individuals are responsible for their own retirement planning. The French pension system offered high replacement rates. The population used to consider that the State scheme had to provide them with an adequat level of pension. In 2003, the pension reform implemented individual and professional pension plans. These retirement savings contracts are not well developed. However, we observed that individuals prefer contracting life endowment contracts, which are long term savings supports, to prepare retirement. Using econometric specifications, we intend to put into perspective the households and individual characteristics which explain the holding behaviours of life endowment contracts and retirement savings plans. We conclude that the highest professional categories and the most educated individuals hold more frequently and simultaneously both types of contracts.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 33 (2013)
Issue (Month): 1 ()
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Private pension; retirement;
Other versions of this item:
- Najat El Mekkaoui De Freitas & Bérangère Legendre & Gordon Clark, 2013. "Individual Private Retirement Insurances: holding behaviours among pensioners," Post-Print, HAL hal-00951881, HAL.
- Clark, Gordon & Legendre, Bérangère & El Mekkaoui de Freitas, Najat, 2013. "Individual Private Retirement Insurances: holding behaviours among pensioners," Economics Papers from University Paris Dauphine, Paris Dauphine University 123456789/11269, Paris Dauphine University.
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