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Interaction of defined benefit pension plans and social security

Author

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  • PESTIEAU , Pierre

    (Université catholique de Louvain (UCL). Center for Operations Research and Econometrics (CORE))

  • POSSEN , Uri

    (Cornell University)

Abstract

This paper explores the shift from defined benefit to defined contribution pension plans when the payout rate from social security is set optimally. This paper shows that when employees are receiving more of their private pensions from defined contribution plans one should be raising the payout rate from traditional social security rather than trying to privatize part of it.

Suggested Citation

  • PESTIEAU , Pierre & POSSEN , Uri, 2008. "Interaction of defined benefit pension plans and social security," CORE Discussion Papers 2008022, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvco:2008022
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    File URL: http://www.uclouvain.be/cps/ucl/doc/core/documents/coreDP2008_22.pdf
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    References listed on IDEAS

    as
    1. Cremer, Helmuth & De Donder, Philippe & Maldonado, Dario & Pestieau, Pierre, 2007. "Voting over type and generosity of a pension system when some individuals are myopic," Journal of Public Economics, Elsevier, vol. 91(10), pages 2041-2061, November.
    2. Sanna Tenhunen & Matti Tuomala, 2010. "On Optimal Lifetime Redistribution Policy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 12(1), pages 171-198, February.
    3. Cremer, Helmuth & Pestieau, Pierre & Rochet, Jean-Charles, 2001. "Direct versus Indirect Taxation: The Design of the Tax Structure Revisted," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(3), pages 781-799, August.
    4. Cremer, Helmuth & Pestieau, Pierre & Rochet, Jean-Charles, 2003. "Capital income taxation when inherited wealth is not observable," Journal of Public Economics, Elsevier, vol. 87(11), pages 2475-2490, October.
    5. Diamond, Peter & Koszegi, Botond, 2003. "Quasi-hyperbolic discounting and retirement," Journal of Public Economics, Elsevier, vol. 87(9-10), pages 1839-1872, September.
    6. Martin Feldstein, 1985. "The Optimal Level of Social Security Benefits," The Quarterly Journal of Economics, Oxford University Press, vol. 100(2), pages 303-320.
    7. Ayşe İmrohoroğlu & Selahattin İmrohoroğlu & Douglas H. Joines, 2003. "Time-Inconsistent Preferences and Social Security," The Quarterly Journal of Economics, Oxford University Press, vol. 118(2), pages 745-784.
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    More about this item

    Keywords

    social security; defined benefit; defined contribution.;

    JEL classification:

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

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