Effizienz der staatlichen Riester-Förderung - Eine empirische Analyse mit dem Sozio-oekonomischen Panel (SOEP)
[Effectiveness of the public Riester subsidies - An empirical analysis using the Socio-Economic Panel (SOEP)]
While private pensions have long been an integral part of old age insurance in America, it is now also in Germany on the rise. To increase the attractiveness and acceptance of private pension provision in the population, saving incentives have been used. In Germany, a Riester saver expects a savings subsidy and a special expense deduction. In addition, all contributions to private retirement provision are taxed downstream. The incentive design is at the expense of the state budget, so the question of the efficiency of savings incentives, such as the Riester pension is an issue of central importance. Empirical studies that have addressed the effective-ness of savings incentives, have thereby limited solely to the effect on the savings rate. The results of these papers are very different. In this work the efficiency of the Riester-subsidy has a much wider interpretation. In particular, one should not limit the usefulness of such a fund-ing measure only on increasing the savings rate. As a fact can be established that an increase of signed Riester contracts is already a benefit of increased funding, depending on the kind of saving which had been substituted. An empirical analysis based on data from the Socio-Economic Panel shows that the objectives have already partly been achieved since many the likelihood of signing a Riester contract increases with the number of children. Additionally individuals with low income are increasingly signing Riester contracts.
|Date of creation:||26 May 2008|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Apps, Patricia & Rees, Ray, 2004.
"Life Cycle Time Allocation and Saving in an Imperfect Capital Market,"
IZA Discussion Papers
1036, Institute for the Study of Labor (IZA).
- Patricia Apps & Ray Rees, 2004. "Life Cycle Time Allocation and Saving in an Imperfect Capital Market," CEPR Discussion Papers 475, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- R. Glenn Hubbard & Jonathan S. Skinner, 1996. "Assessing the Effectiveness of Saving Incentives," Books, American Enterprise Institute, number 53540, 9.
- Caballero, Ricardo J., 1990. "Consumption puzzles and precautionary savings," Journal of Monetary Economics, Elsevier, vol. 25(1), pages 113-136, January.
- Gale, W.G. & Scholz, J.K., 1990.
"Ira'S And Households Saving,"
16, California Los Angeles - Applied Econometrics.
- Leslie E. Papke & Mitchell A. Petersen & James M. Poterba, 1996.
"Do 401(k) Plans Replace Other Employer-Provided Pensions?,"
in: Advances in the Economics of Aging, pages 219-240
National Bureau of Economic Research, Inc.
- Leslie E. Papke & Mitchell Petersen & James M. Poterba, 1993. "Did 401(k) Plans Replace Other Employer Provided Pensions?," NBER Working Papers 4501, National Bureau of Economic Research, Inc.
- R. Glenn Hubbard & Jonathan S. Skinner, 1996.
"Assessing the Effectiveness of Saving Incentives,"
Journal of Economic Perspectives,
American Economic Association, vol. 10(4), pages 73-90, Fall.
- Elie Appelbaum & Richard G. Harris, 1978. "Imperfect Capital Markets and Life-Cycle Saving," Canadian Journal of Economics, Canadian Economics Association, vol. 11(2), pages 319-24, May.
- James M. Poterba & Steven F. Venti & David A. Wise, 1992.
"401(k) Plans and Tax-Deferred Saving,"
NBER Working Papers
4181, National Bureau of Economic Research, Inc.
- James J. Heckman, 1981. "Heterogeneity and State Dependence," NBER Chapters, in: Studies in Labor Markets, pages 91-140 National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:27020. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.