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Perspektiven der Alterssicherungspolitik in Deutschland –Über Konzeptionen, Vorschläge und einen angestrebten Paradigmenwechsel

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  • Winfried Schmähl

Abstract

The paper outlines different concepts for designing pension policies linked to current reform proposals in Germany. The role of the state, mandatory or voluntary savings for old age and the primary objectives and types of income redistribution aimed at by the design of pension schemes are central. In contrast to the economic debate which is dominated by the topic pay‐as‐you‐go (PAYG) versus funding, the author argues that it is especially important to deal with changes within the major German PAYG‐financed scheme in order to realize positive economic and social effects, especially by a close contribution??benefit link as part of a broader reform concept. There are, however, limits to an overall reduction of the pension level in such a pension scheme, if a close contribution??benefit link is to remain politically acceptable. Here this is demonstrated by current reform proposals for substituting a major part of PAYG pensions by funded pensions in Germany. The paper also points out some hidden, implicit and long‐term effects of such a strategy. Finally, the author refers to some often neglected effects in mainstream proposals for a major shift towards funding.

Suggested Citation

  • Winfried Schmähl, 2000. "Perspektiven der Alterssicherungspolitik in Deutschland –Über Konzeptionen, Vorschläge und einen angestrebten Paradigmenwechsel," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 1(4), pages 407-430, November.
    • Handle: RePEc:bla:perwir:v:1:y:2000:i:4:p:407-430
    DOI: 10.1111/1468-2516.00025
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    References listed on IDEAS

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    1. Gary Burtless, 2000. "Social Security Privatization and Financial Market Risk: Lessons from U.S. Financial History," Discussion Papers of DIW Berlin 211, DIW Berlin, German Institute for Economic Research.
    2. Schmähl, Winfried, 1998. "Perspektiven der Sozialpolitik nach dem Regierungswechsel," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1949 - 2007), ZBW - Leibniz Information Centre for Economics, vol. 78(12), pages 713-722.
    3. Robert C. Merton, 1983. "On the Role of Social Security as a Means for Efficient Risk Sharing in an Economy Where Human Capital Is Not Tradable," NBER Chapters, in: Financial Aspects of the United States Pension System, pages 325-358, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Breyer Friedrich, 2001. "Zur Rentenproblematik: Lösungswege und Reformvorschläge. Hinterbliebenensicherung und Ehegattensplitting in der Sozialversicherung," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 50(2), pages 169-178, August.
    2. Schmähl, Winfried, 2002. "A new chapter in German Pension Policy: The "2001 Pension Reform" based on a Paradigm Shift," Discussion Paper 99, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.

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