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Pension Reform in Germany: The Impact on Retirement Decisions

  • Axel Börsch-Supan

    ()

  • Barbara Berkel

    ()

    (Munich Center for the Economics of Aging (MEA))

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    The paper examines the long-term implications of various reform options on 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 Commissionâ€). 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 two years. The two-year increase in all relevant age limits proposed by the “Rürup Commission†would raise retirement age of men by another eight months.

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    File URL: http://mea.mpisoc.mpg.de/uploads/user_mea_discussionpapers/tnm62ivgnt6rcr0e_tnm62ivgnt6rcr0e_ISSP2.5-FinArch-Rev-01Apr04_zs.pdf
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    Paper provided by Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy in its series MEA discussion paper series with number 04062.

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    Date of creation: 11 Nov 2004
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    Handle: RePEc:mea:meawpa:04062
    Contact details of provider: Postal: Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy, Amalienstraße 33, 80799 München, Germany
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    1. Axel Börsch-Supan & Reinhold Schnabel & Simone Kohnz & Giovanni Mastrobuoni, 2004. "Micro-Modeling of Retirement Decisions in Germany," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 285-344 National Bureau of Economic Research, Inc.
    2. repec:crr:crrwps:2003-04 is not listed on IDEAS
    3. David M. Cutler & Louise Sheiner, 1999. "Demographics and medical care spending: standard and non-standard effects," Finance and Economics Discussion Series 1999-20, Board of Governors of the Federal Reserve System (U.S.).
    4. Breyer, Friedrich & Kifmann, Mathias, 2002. "Incentives to retire later a solution to the social security crisis?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 1(02), pages 111-130, July.
    5. Robin L. Lumsdaine & James H. Stock & David A. Wise, 1992. "Three Models of Retirement: Computational Complexity versus Predictive Validity," NBER Chapters, in: Topics in the Economics of Aging, pages 21-60 National Bureau of Economic Research, Inc.
    6. Palmer, Edward, 2000. "The Swedish pension reform model : framework and issues," Social Protection Discussion Papers 23086, The World Bank.
    7. Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, number grub99-1, June.
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