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Pension Reforms and Inequalities in France

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  • Antoine Bozio
  • Maxime Tô
  • Julie Tréguier

Abstract

This study analyzes the distributional effects of French pension reforms from 1993 to 2014 across different socioeconomic groups. Using administrative data for individuals born between 1934 and 1950, we examine the impact on social security wealth (SSW) across lifetime earnings deciles and genders. Our methodology incorporates differential life expectancy and exploits the PENSIPP model for counterfactual scenarios. Results show that reforms generally decreased SSW across all income groups, with regressive tendencies. The 1993 reform had the most significant impact, reducing SSW by over 15% for men in the lowest earnings decile compared to 5% for the highest. Subsequent reforms had milder effects. These findings contribute to understanding the long-term consequences of pension reforms on inequality and inform future policy decisions in countries facing similar demographic challenges.

Suggested Citation

  • Antoine Bozio & Maxime Tô & Julie Tréguier, 2025. "Pension Reforms and Inequalities in France," NBER Working Papers 34576, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:34576
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    1. Antoine Bozio & Chloé Lallemand & Simon Rabaté & Audrey Rain, 2019. "Réforme des retraites : quels effets redistributifs attendus ?," Post-Print halshs-02516412, HAL.
    2. Courtney Coile & Jonathan Gruber, 2001. "Social Security Incentives for Retirement," NBER Chapters, in: Themes in the Economics of Aging, pages 311-354, National Bureau of Economic Research, Inc.
    3. Rabaté, Simon & Rochut, Julie, 2020. "Employment and substitution effects of raising the statutory retirement age in France," Journal of Pension Economics and Finance, Cambridge University Press, vol. 19(3), pages 293-308, July.
    4. Antoine Bozio & Chloé Lallemand & Simon Rabaté & Audrey Rain, 2019. "Réforme des retraites : quels effets redistributifs attendus ?," Post-Print halshs-02516412, HAL.
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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