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Angebotsinduzierung und Mitnahmeeffekt im Rahmen der Riester-Rente: eine empirische Analyse

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  • Christian Pfarr
  • Udo Schneider

Abstract

In 2001, the voluntary additional Riester pension scheme was implemented in Germany. Financial subsidies should incentivize people to increase their private pension savings. In this paper, we hypothesize that these publicly subsidized savings mainly replace existing not subsidized savings and that supplier induced demand is an important factor. Using data from the Socio-economic Panel we analyze the key determinants in the choice of a Riesterpension. We find greater participation of those who already have life insurance or other public subsidized savings. Furthermore, we show that a contact with an insurance agent in the previous year is a major factor for the possession of a Riester-pension.

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Bibliographic Info

Paper provided by DIW Berlin, The German Socio-Economic Panel (SOEP) in its series SOEPpapers on Multidisciplinary Panel Data Research with number 341.

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Length: 23 p.
Date of creation: 2010
Date of revision:
Handle: RePEc:diw:diwsop:diw_sp341

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Keywords: Riester-Rente; Demografie; angebotsinduzierte Nachfrage; Mitnahmeeffekt;

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References

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  1. Mathias Sommer, 2007. "Fiskalische Auswirkungen einer Erweiterung des Förderrahmens von Riesterrenten," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 07122, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  2. Börsch-Supan, Axel & Bucher-Koenen, Tabea & Reil-Held, Anette & Wilke, Christina, 2008. "Zum künftigen Stellenwert der ersten Säule im Gesamtsystem der Alterssicherung," Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim 08-45, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  3. Axel Börsch-Supan & Anette Reil-Held & Daniel Schunk, 2006. "Das Sparverhalten deutscher Haushalte: Erste Erfahrungen mit der Riester-Rente," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 06114, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  4. Börsch-Supan, Axel & Reil-Held, Anette & Schunk, Daniel, 2008. "Saving incentives, old-age provision and displacement effects: evidence from the recent German pension reform," Journal of Pension Economics and Finance, Cambridge University Press, Cambridge University Press, vol. 7(03), pages 295-319, November.
  5. Gert G. Wagner & Joachim R. Frick & Jürgen Schupp, 2007. "The German Socio-Economic Panel Study (SOEP): Scope, Evolution and Enhancements," SOEPpapers on Multidisciplinary Panel Data Research 1, DIW Berlin, The German Socio-Economic Panel (SOEP).
  6. Axel Börsch-Supan & Anette Reil-Held & Daniel Schunk, 2007. "The savings behaviour of German households: First Experiences with state promoted private pensions," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 07136, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  7. Corneo, Giacomo & Keese, Matthias & Schröder, Carsten, 2008. "Can governments boost voluntary retirement savings via tax incentives and subsidies? A German case study for low-income households," Economics Working Papers, Christian-Albrechts-University of Kiel, Department of Economics 2008,18, Christian-Albrechts-University of Kiel, Department of Economics.
  8. Johannes Geyer & Viktor Steiner, 2009. "Zahl der Riester-Renten steigt sprunghaft: aber Geringverdiener halten sich noch zurück," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 76(32), pages 534-541.
  9. Giacomo Corneo & Matthias Keese & Carsten Schröder, 2009. "The Riester Scheme and Private Savings: An Empirical Analysis based on the German SOEP," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, Duncker & Humblot, Berlin, vol. 129(2), pages 321-332.
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Citations

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Cited by:
  1. Bettina Lamla, 2012. "Family Background, Informal Networks and the Decision to Provide for Old Age: A Siblings Approach," SOEPpapers on Multidisciplinary Panel Data Research 466, DIW Berlin, The German Socio-Economic Panel (SOEP).
  2. Rumpf, Dominik & Wiegard, Wolfgang, 2010. "Kapitalertragsbesteuerung und Kapitalkosten," Working Papers, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung 05/2010, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
  3. Axel H. Börsch-Supan & Michela Coppola & Anette Reil-Held, 2012. "Riester Pensions in Germany: Design, Dynamics, Targetting Success and Crowding-In," NBER Working Papers 18014, National Bureau of Economic Research, Inc.
  4. Lamla, Bettina, 2012. "Family background, informal networks and the decision to provide for old age: A siblings approach," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 12261, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

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