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Measuring lifetime redistribution in Dutch occupational pensions

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  • Jan Bonenkamp

Abstract

This paper quantifies lifetime redistribution in Dutch occupational pension schemes associated with uniform pricing. Information about the extent of redistribution is important because it will influence the public acceptance of the pension system. This paper quantifies lifetime redistribution in Dutch occupational pension schemes associated with uniform pricing. Information about the extent of redistribution is important because it will influence the public acceptance of the pension system. The uniform contribution rate is split up into a saving share and a transfer share for different socioeconomic groups. The transfer share, in turn, consists of intergenerational and intragenerational transfers. We find that the relative size of the saving- and transfer shares strongly depends on socioeconomic characteristics, such as gender and level of education. The saving part is higher for females than for males and it increases with the level of education, which implies that uniform pricing involves a large transfer from males to females and from low educated to higher educated workers. The impact of intergenerational transfers is modest.

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  • Jan Bonenkamp, 2007. "Measuring lifetime redistribution in Dutch occupational pensions," CPB Discussion Paper 81, CPB Netherlands Bureau for Economic Policy Analysis.
    • Handle: RePEc:cpb:discus:81
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    References listed on IDEAS

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    1. Alessandro Sommacal, 2006. "Pension systems and intragenenerational redistribution when labor supply is endogenous," Oxford Economic Papers, Oxford University Press, vol. 58(3), pages 379-406, July.
    2. Borsch-Supan, Axel & Reil-Held, Anette, 2001. " How Much Is Transfer and How Much Is Insurance in a Pay-As-You-Go System? The German Case," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(3), pages 505-524, September.
    3. Harry ter Rele, 2005. "Measuring lifetime redistribution in Dutch collective arrangements," CPB Document 79, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Axel Borsch‐Supan & Anette Reil‐Held, 2001. "How Much is Transfer and How Much is Insurance in a Pay‐as‐you‐go System? The German Case," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(3), pages 505-524, September.
    5. Hoevenaars, Roy P.M.M. & Ponds, Eduard H.M., 2008. "Valuation of intergenerational transfers in funded collective pension schemes," Insurance: Mathematics and Economics, Elsevier, vol. 42(2), pages 578-593, April.
    6. Luis Cubeddu, 2000. "Intragenerational Redistribution in Unfunded Pension Systems," IMF Staff Papers, Palgrave Macmillan, vol. 47(1), pages 1-4.
    7. Hoevenaars, J. & Ponds, E.H.M., 2008. "Valuation of intergenerational transfers in collective funded pension schemes," Other publications TiSEM 2c1afa01-df29-490e-bc52-8, Tilburg University, School of Economics and Management.
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    Cited by:

    1. Damiaan H. J. Chen & Sweder J. G. Wijnbergen, 2020. "Redistributive Consequences of Abolishing Uniform Contribution Policies in Pension Funds," De Economist, Springer, vol. 168(3), pages 305-341, September.
    2. Adriaan Kalwij & Rob Alessie & Marike Knoef, 2013. "The Association Between Individual Income and Remaining Life Expectancy at the Age of 65 in the Netherlands," Demography, Springer;Population Association of America (PAA), vol. 50(1), pages 181-206, February.
    3. Niels Kortleve & Eduard Ponds, 2009. "Dutch Pension Funds in Underfunding: Solving Generational Dilemmas," Working Papers, Center for Retirement Research at Boston College wp2009-29, Center for Retirement Research, revised Nov 2009.
    4. Damiaan H. J. Chen & Sweder J. G. Wijnbergen, 2020. "Redistributive Consequences of Abolishing Uniform Contribution Policies in Pension Funds," De Economist, Springer, vol. 168(3), pages 305-341, September.

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    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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