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Saving and Retirement Decisions with Pension Risk

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Author Info
Andreas Wagener

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Abstract

We analyze the impact of increased pension uncertainties on saving and retirement decisions, both in isolated and in joint decision problems. In the absence of other risks, saving is increased and retirement is delayed when social security pensions get more risky. If saving and retirement decisions are risky themselves, risk-vulnerable individuals will save less upon a higher pension risk; the effect on retirement is ambiguous. If saving and retirement decisions are made jointly, higher pension risks may cause a decline in precautionary saving or an earlier withdrawal from the labor force, but never both at the sametime.

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File URL: http://www.ingentaconnect.com/content/mohr/fa/2007/00000063/00000001/art00006
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Publisher Info
Article provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.

Volume (Year): 63 (2007)
Issue (Month): 1 (March)
Pages: 107-132
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Handle: RePEc:mhr:finarc:urn:sici:0015-2218(200703)63:1_107:sardwp_2.0.tx_2-b

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Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
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Related research
Keywords: retirement saving social security risk decisions under uncertainty

Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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This page was last updated on 2008-8-28.

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