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Steuervorteile durch Versorgungszusagen in Arbeitsverträgen
[Tax benefits from employer-sponsored pension plans]

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Author Info

  • Brassat, Marcel
  • Kiesewetter, Dirk

Abstract

In Germany, there are four different legal structures for employer-sponsored pension plans. Tax treatment at the firm level as well as at the level of the employee or pensioner differs between these four vehicles. This article evaluates and compares the tax benefit from comparable plans within the four different vehicles in a capital budgeting model which takes into account cash flows of both parties – employer and employee. We abstract from non-tax differences, such as administrative costs, investment rules, or different possible risk-return-profiles. After a brief overview of the literature, in Section 2 the assumptions and the structure of the calculus are presented. Section 3 is devoted to individual retirement savings out of taxed income. These results are used as a benchmark for the employer-sponsored pension schemes. Section 4 presents calculations for all four legal forms of pension plans and illustrates them with an example. A detailed comparison of the alternatives and a discussion of the results are given in Section 5. Section 6 summarizes.

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File URL: http://mpra.ub.uni-muenchen.de/27262/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27262.

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Date of creation: Feb 2003
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Handle: RePEc:pra:mprapa:27262

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Keywords: betriebliche Altersversorgung; individuelles Vorsorgesparen;

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References

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  1. Kiesewetter, Dirk, 2001. "Für wen lohnt sich die Riester-Rente?," Tübinger Diskussionsbeiträge 224, University of Tübingen, School of Business and Economics.
  2. Niemann, Rainer & Kiesewetter, Dirk, 2002. "Zur steuerlichen Vorteilhaftigkeit von Kapitallebensversicherungen," Tübinger Diskussionsbeiträge 239, University of Tübingen, School of Business and Economics.
  3. Dirk Kiesewetter & Rainer Niemann, 2002. "Neutral and Equitable Taxation of Pensions as Capital Income," CESifo Working Paper Series 706, CESifo Group Munich.
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Cited by:
  1. Pitterle, Ingo & Steffen, Dirk, 2004. "Welfare Effects of Fiscal Policy under Alternative Exchange Rate Regimes : The Role of the Scale Variable of Money Demand," Tübinger Diskussionsbeiträge 284, University of Tübingen, School of Business and Economics.
  2. Baten, Jörg & Wallusch, Jacek, 2003. "Market integration and disintegration of Poland and Gemany [Germany] in the 18th century," Tübinger Diskussionsbeiträge 268, University of Tübingen, School of Business and Economics.
  3. Köpke, Nikola & Baten, Jörg, 2003. "The biological standard of living in Europe during the last two millennia," Tübinger Diskussionsbeiträge 265, University of Tübingen, School of Business and Economics.
  4. Rostek, Stefan & Schöbel, Rainer, 2006. "Risk preference based option pricing in a fractional Brownian market," Tübinger Diskussionsbeiträge 299, University of Tübingen, School of Business and Economics.
  5. Stadler, Manfred, 2003. "Innovation and growth: The role of labor-force qualification," Tübinger Diskussionsbeiträge 255, University of Tübingen, School of Business and Economics.
  6. Hager, Svenja & Schöbel, Rainer, 2006. "Deriving the dependence structure of portfolio credit derivatives using evolutionary algorithms," Tübinger Diskussionsbeiträge 300, University of Tübingen, School of Business and Economics.

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