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Was sind die richtigen Rentenabschläge? – neue Perspektiven

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  • Gasche Martin

    (Munich Center for the Economics of Aging (MEA), Am Max-Planck-Institut für Sozialrecht und Sozialpolitik Amalienstraße 33, 80799 München, Telefon: 089 38602 35)

Abstract

The correct adjustment of pension benefits when postponing retirement is calculated by three „income-oriented“ approaches: the incentive-neutral approach, the budget-neutral approach and as an innovation the return-neutral approach. It turns out, that the three approaches differ just in their underlying discount rate but not in their method of calculation. In addition it can be shown, that the incentive-neutral approach leads to incentive neutrality when the implicit taxation of contributions is equal to the implicit taxation of the early retirement pension. The correct adjustment factors were also calculated for those cases, where the relevant alternative for early retirement is unemployment or not to continue work.

Suggested Citation

  • Gasche Martin, 2012. "Was sind die richtigen Rentenabschläge? – neue Perspektiven," Review of Economics, De Gruyter, vol. 63(2), pages 187-235, August.
    • Handle: RePEc:lus:reveco:v:63:y:2012:i:2:p:187-235
    DOI: 10.1515/roe-2012-0205
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    Cited by:

    1. Knell, Markus, 2021. "Actuarial deductions for early retirement," Journal of Demographic Economics, Cambridge University Press, vol. 87(2), pages 141-167, June.
    2. Börsch-Supan, Axel & Härtl, Klaus & Leite, Duarte N., 2018. "Earnings test, non-actuarial adjustments and flexible retirement," Economics Letters, Elsevier, vol. 173(C), pages 78-83.
    3. Axel Börsch-Supan & Johannes Rausch & Nicolas Goll, 2019. "Social Security Reforms and the Changing Retirement Behavior in Germany," NBER Chapters, in: Social Security Programs and Retirement around the World: Reforms and Retirement Incentives, pages 175-226, National Bureau of Economic Research, Inc.
    4. Börsch-Supan, A. & Härtl, K. & Leite, D.N., 2016. "Social Security and Public Insurance," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 781-863, Elsevier.
    5. Axel H. Börsch-Supan & Johannes Rausch & Nicolas Goll, 2020. "Social Security Reforms and the Changing Retirement Behavior in Germany," NBER Working Papers 27518, National Bureau of Economic Research, Inc.
    6. Börsch-Supan, Axel & Bucher-Koenen, Tabea & Ferrari, Irene & Kutlu Koc, Vesile & Rausch, Johannes, 1970. "The Development of the Pension Gap and German Households’ Saving Behavior," MEA discussion paper series 201602, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

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