Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/215140 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 12744
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
Facing a reduction in pension generosity, individuals can compensate the loss by working longer or saving more. This paper shows that the impact of changes in pension generosity on saving crucially depends on the possibility of prolonging future employment. Exploiting across cohort variation in expected pension wealth induced by a 3-year lift in early retirement age for women born after 1951 in Germany, we show evidence of a reduction in private savings rate and an increase in leisure consumptions in case of strong responses in future labor earnings.
Schlagwörter: 
pension reform
early retirement age
savings
pension wealth
JEL: 
D14
J14
J26
Dokumentart: 
Working Paper

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