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Household Saving Rates and the Design of Public Pension Programmes: Cross–Country Evidence

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  • Richard Disney

    (University of Nottingham and Institute for Fiscal Studies, London. Tel: +44 1159 515619. richard.disney@nottingham.ac.uk)

Abstract

I argue that the offsetting effect of public pension contributions on household retirement saving depends on how closely the public pension programme imitates a private retirement saving plan (i.e. the ‘actuarial’ content of the public pension programme)–the closer the design of the programme to a private retirement saving plan, the higher the offset. I estimate the determinants of household saving rates in a cross–country panel, augmenting standard measures of public pension programme generosity and cost by indicators that proxy the actuarial component of the programme. These indicators affect saving rates as predicted.

Suggested Citation

  • Richard Disney, 2006. "Household Saving Rates and the Design of Public Pension Programmes: Cross–Country Evidence," National Institute Economic Review, National Institute of Economic and Social Research, vol. 198(1), pages 61-74, October.
    • Handle: RePEc:sae:niesru:v:198:y:2006:i:1:p:61-74
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    Citations

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    Cited by:

    1. Creedy, John & Gemmell, Norman & Scobie, Grant, 2015. "Pensions, savings and housing: A life-cycle framework with policy simulations," Economic Modelling, Elsevier, vol. 46(C), pages 346-357.
    2. John Creedy & Shuyun May Li & Solmaz Moslehi, 2008. "The Composition of Government Expenditure in an Overlapping Generations Model," Department of Economics - Working Papers Series 1043, The University of Melbourne.
    3. Richard Disney & Carl Emmerson & Matthew Wakefield, 2008. "Pension Provision and Retirement Saving: Lessons from the United Kingdom," Canadian Public Policy, University of Toronto Press, vol. 34(s1), pages 155-176, November.
    4. Creedy, John & Gemmell, Norman & Scobie, Grant, 2015. "Pensions, savings and housing: A life-cycle framework with policy simulations," Economic Modelling, Elsevier, vol. 46(C), pages 346-357.
    5. Alfredo M. Pereira & Jorge M. Andraz, 2015. "On the long-term macroeconomic effects of social spending in the United States," Applied Economics Letters, Taylor & Francis Journals, vol. 22(2), pages 132-136, January.

    More about this item

    Keywords

    Pension reform; Household saving;

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