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Individual Private Retirement Insurances: holding behaviours among pensioners


  • Najat El Mekkaoui de Freitas

    () (Paris Dauphine University, LEDa-DIAL)

  • Berangere Legendre Lunven

    () (University of Savoie, IREGE)

  • Gordon Clark

    () (Oxford University)


In the current context of demographic pressures, reforms of PAYG pension systems increase the extent to which individuals are responsible for their own retirement planning. The French pension system offered high replacement rates. The population used to consider that the State scheme had to provide them with an adequat level of pension. In 2003, the pension reform implemented individual and professional pension plans. These retirement savings contracts are not well developed. However, we observed that individuals prefer contracting life endowment contracts, which are long term savings supports, to prepare retirement. Using econometric specifications, we intend to put into perspective the households and individual characteristics which explain the holding behaviours of life endowment contracts and retirement savings plans. We conclude that the highest professional categories and the most educated individuals hold more frequently and simultaneously both types of contracts.

Suggested Citation

  • Najat El Mekkaoui de Freitas & Berangere Legendre Lunven & Gordon Clark, 2013. "Individual Private Retirement Insurances: holding behaviours among pensioners," Economics Bulletin, AccessEcon, vol. 33(1), pages 812-827.
  • Handle: RePEc:ebl:ecbull:eb-12-00428

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    References listed on IDEAS

    1. Browning, Martin & Francois Bourguignon & Pierre-Andre Chiappori & Valerie Lechene, 1994. "Income and Outcomes: A Structural Model of Intrahousehold Allocation," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1067-1096, December.
    2. David E. Bloom & David Canning & Bryan Graham, 2003. "Longevity and Life-cycle Savings," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(3), pages 319-338, September.
    3. Annamaria Lusardi & Olivia S. Mitchell & Vilsa Curto, 2009. "Financial Literacy and Financial Sophistication Among Older Americans," NBER Working Papers 15469, National Bureau of Economic Research, Inc.
    4. repec:dau:papers:123456789/6152 is not listed on IDEAS
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    Private pension; retirement;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • J0 - Labor and Demographic Economics - - General


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