Aufwand und Ertrag in der deutschen gesetzlichen Alterssicherung (GRV)
AbstractThere are only few estimates of the returns on contributions to the German public pension System (GPPS). Those that are published ränge between nominal rates of future returns between about 4,5 % and 48 %, indicating that GPPS treats different groups of people differently. The authors develop a methodology of calculating rates of return of GPPS contributions and apply it to a standardised retiree and to the average retiree, both male and female. The outcome is that the present System implies negative real rates of return for future retirees. It is argued that the returns on contributions have nothing to do with investment returns prevailing on the capital market and that the currently discussed plans for reforming the German social-security System will lead to a further deterioration of the whole system.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 840.
Date of creation: 1997
Date of revision:
Find related papers by JEL classification:
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Feldstein, Martin, 1996.
"The Missing Piece in Policy Analysis: Social Security Reform,"
American Economic Review,
American Economic Association, vol. 86(2), pages 1-14, May.
- Martin Feldstein, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," NBER Working Papers 5413, National Bureau of Economic Research, Inc.
- Berthold, Norbert, 1998. "Europa auf dem Weg ins 21. Jahrhundert: die Perspektive Westeuropas," Wirtschaftswissenschaftliche BeitrÃ¤ge 23, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny).
If references are entirely missing, you can add them using this form.