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Labour Market Effects of Defined Contribution Plans: An International Survey

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  • John A. Turner

    () (Public Policy Institute, AARP)

Abstract

Because of the apparent simplicity of defined contribution plans, they have until recently received relatively little analysis by economists. The presumption that defined contribution plans are non-distortionary is stronger for voluntary than mandatory plans because with voluntary plans workers have the choice to not work for employers that offer them. This article argues that mandatory defined contribution plans may be structured in ways that cause them to affect worker and employer behaviour by affecting aspects of labour supply and demand. For example, any mandatory program that attempts to increase workers' retirement savings may change their labour supply behaviour, both because individuals act to minimise the consequences of the program and because of the effects of the workers' greater retirement savings, if the program succeeds in that regard.

Suggested Citation

  • John A. Turner, 2000. "Labour Market Effects of Defined Contribution Plans: An International Survey," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 4(3), pages 224-231, September.
  • Handle: RePEc:ozl:journl:v:4:y:2001:i:3:p:224-231
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    More about this item

    Keywords

    Nonwage Labor Costs and Benefits; Private Pensions (Fringe Benefits; Cost of Social Security; Costs of Hiring and Firing) Retirement; Retirement Policies Time Allocation and Labor Supply (Hours of Work; Part-Time Employment; Employment; Work Sharing; Absenteeism);

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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