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Retirement Security in an Aging Population

  • James M. Poterba
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    Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of the income distribution, Social Security is the most important source of support; program changes would directly affect their well-being. Income from private pensions, assets, and earnings are relatively more important for higher-income elderly individuals, who have more diverse income sources. The trend from private sector defined benefit to defined contribution pension plans has shifted responsibility for retirement security to individuals. A significant subset of the population is unlikely to be able to sustain their standard of living in retirement without higher pre-retirement saving.

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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.104.5.1
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    File URL: http://www.aeaweb.org/aer/data/10405/P2014_1181_data.zip
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    Article provided by American Economic Association in its journal American Economic Review.

    Volume (Year): 104 (2014)
    Issue (Month): 5 (May)
    Pages: 1-30

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    Handle: RePEc:aea:aecrev:v:104:y:2014:i:5:p:1-30
    Note: DOI: 10.1257/aer.104.5.1
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