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 InfoPaper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/11269.
Date of creation: Mar 2013
Date of revision:
Publication status: Published in Economics Bulletin, 2013, Vol. 33, no. 1. pp. 812-827.Length: 15 pages
Retirement; Old age assistance; Old age pensions; Pension trusts;
Other versions of this item:
- Najat El Mekkaoui de Freitas & Berangere Legendre Lunven & Gordon Clark, 2013. "Individual Private Retirement Insurances: holding behaviours among pensioners," Economics Bulletin, AccessEcon, vol. 33(1), pages 812-827.
- Najat El Mekkaoui De Freitas & Bérangère Legendre & Gordon Clark, 2013. "Individual Private Retirement Insurances: holding behaviours among pensioners," Post-Print hal-00951881, HAL.
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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