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Pension Reform in Germany: The Impact on Retirement Decisions

Author

Listed:
  • Barbara Berkel
  • Axel Börsch-Supan

Abstract

The paper examines the long-term implications of various reform options for retirement entry decisions and the actual retirement age of older workers. It focuses on the changes in pension legislation since 1992 and the reform options discussed by the German Social Security Reform Commission installed in 2002 (Rürup Commission). Our simulations show that the early-retirement adjustment factors introduced by the 1992 pension reform will raise the average effective retirement age for men by almost 2 years. The 2-year increase in all relevant age limits proposed by the Rürup Commission would raise the retirement age of men by another 8 months.

Suggested Citation

  • Barbara Berkel & Axel Börsch-Supan, 2004. "Pension Reform in Germany: The Impact on Retirement Decisions," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(3), pages 393-393, September.
  • Handle: RePEc:mhr:finarc:urn:sici:0015-2218(200409)60:3_393:prigti_2.0.tx_2-s
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    More about this item

    Keywords

    retirement decisions; social security reform; retirement age; adjustment factors;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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