@techreport{Bonin2001Will,
abstract = {In May 2001, Germany adopted a fundamental pension reform cutting back public pensions
and introducing personal pension accounts. The paper critically reviews the reform decisions
and evaluates their long-term viability. It is shown that the adjustment of the Public Pension
Scheme misses the proclaimed contribution rate and replacement ratio targets already under
moderate economic conditions. However, the new private pension plans provide scope for
further downsizing state pensions, necessary beyond 2025. As the enacted savings rate
target is conservative, individual pensions keep retirement income sufficient even if returns to
pension funds are low due to legal restrictions on savings vehicles.},
author = {Holger Bonin},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F22; E66; 330; Pension reform; pension funding; fiscal projections; Germany; Gesetzliche Rentenversicherung; Rentenreform; Wirtschaftspolitische Wirkungsanalyse; Alterssicherung; Sozialversicherungsbeitrag; Sparen; Rendite; Prognose; Deutschland},
language = {eng},
number = {343},
title = {Will it Last? An Assessment of the 2001 German Pension Reform},
type = {IZA Discussion paper series},
url = {http://hdl.handle.net/10419/21201},
year = {2001}
}
