2014

Collective pension contracts allow for intergenerational risk sharing with the unborn. They therefore imply a higher level of social welfare than individual accounts. Collective pension contracts also imply a suboptimal allocation of consumption across time periods and states of nature however. Hence, collective pension contracts also reduce social welfare.

Pension systems are facing crucial and far-reaching challenges. The economic crisis led to a reduction in governments’ revenues to finance retirement promises and to a loss of public confidence in private pensions in many countries. At the same time, pension systems also have to deal with the problems posed by population ageing and the current economic environment.

Få i Norge forstår noe særlig av alderspensjonen sin. Og ikke spesielt mange anstrenger seg heller for å gjøre det, før de nærmer seg pensjonsalderen.

Hvordan i all verden klarte Jens Stoltenberg og embetsmennene hans – i verdens rikeste land – å lose gjennom en stor pensjonsreform med omfattende innstramminger overfor innbyggerne?

Regjeringen går inn for å heve aldersgrensen i arbeidslivet til 72 år og senere til 75 år, kunngjorde arbeidsminister Robert Eriksson i et møte med partene i arbeidslivet tirsdag 25.november. Aldergrenser i arbeidslivet vil bli et viktig diskusjonstema i tiden som kommer og med dette som bakteppe avholdes det møte i Pensjonsforum 12. desember hvor aldergrenser står på dagsorden.

The expectations of economic agents play a crucial role in almost any inter-temporal economic model. A period of economic crisis may make consumer expectations more pessimistic and affect their saving or retirement plans and decisions.

Life expectancies are rapidly increasing and uncertain in all countries in Europe. To keep pension systems affordable, policy reforms are to be implemented which will encourage individuals to work longer and that adjust pension systems such that if life expectancy increases without adjustments in the retirement age, the pension income level decreases.

We study whether the retirement replacement rate in uences households' saving behavior by using the RAND Health and Retirement Study data le. We estimate quantile regressions with the ratio of wealth to permanent income as dependent variable, and age dummies and the retirement replacement rate as main independent variables.

Growing pension savings lead to deeper capital markets. This can have a positive effect on economic growth by allowing firms that are more dependent on external financing to grow faster.

Arbeidstakerorganisasjonen Unio anklager regjeringen for slett arbeid etter å ha oppdaget at et forslag til pensjonsendringer kan koste delvis uføre titusenvis av kroner.

The provision of financial security in retirement is critical for both individuals and societies as most countries are now grappling with the social and economic effects of ageing populations. Yet, a comparison of the diverse retirement income systems around the world is not straight forward.

The Finnish Centre for Pensions has assessed the consequences of the proposed 2017 pension reform in relation to the set objectives. The objectives included the development of the retirement age, employment, pension expenditure and contributions, pension assets, average pension and gender and intergenerational effects.