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| Title: | | 15 years of pension reform in Germany: old successes and new threats  |
| Authors: | | Bonin, Holger |
| Issue Date: | | 2009 |
| Series/Report no.: | | ZEW Discussion Papers 09-035 |
| Abstract: | | The paper surveys the state of German pension system after a sequence of reforms aimed at achieving long-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a defined contribution scheme, and that this move has stabilized pension finances to a large extent. We furthermore argue that the real economy consequences of global financial create threats to the core success factors of the reforms - cutting pension levels and raising mandatory pension age. Finally the paper discusses further possible reform measures, including the option to install a fourth pillar providing income in retirement through working after pension age. |
| Subjects: | | Pension Financing Financial Crisis Fiscal Sustainability Survey Germany |
| JEL: | | H55 J11 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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