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Title:15 years of pension reform in Germany: old successes and new threats PDF Logo
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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