Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/49451
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dc.contributor.authorSchröder, Carstenen_US
dc.date.accessioned2011-08-26en_US
dc.date.accessioned2011-09-09T13:12:22Z-
dc.date.available2011-09-09T13:12:22Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/49451-
dc.description.abstractMicro-econometric intra-cohort profitability analyses of pay-as-you-go (PAYG) pension contributions are rare. We use representative employment histories of a birth cohort of German PAYG pension insurants retiring in year 2005 to econometrically examine the determinants of the profitability of such contributions using nominal internal rates of return (IRR) as profitability measure. When future nominal pension entitlements are frozen at today's level, average IRR is slightly above three percent. At the same time, IRR differs substantially across beneficiaries. IRR is increasing in beneficiaries' remaining life expectancies at retirement and in the length of non-contribution periods resulting, for example, from child care or care for an ill partner. Due to survivor pensions, married insurants benefit from higher IRR as compared to the non-married. Interestingly, IRR is decreasing in insurants' earnings capacity, indicating that the system entails an intra-cohort progressive element.en_US
dc.language.isoengen_US
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen_US
dc.relation.ispartofseries|aDIW Discussion Papers |x1057en_US
dc.subject.jelD02en_US
dc.subject.jelD14en_US
dc.subject.jelD39en_US
dc.subject.jelD91en_US
dc.subject.jelH55en_US
dc.subject.ddc330en_US
dc.subject.keywordPay-as-you-goen_US
dc.subject.keywordpensionsen_US
dc.subject.keywordrate of returnen_US
dc.subject.keywordredistributionen_US
dc.subject.keywordemployment biographyen_US
dc.subject.stwGesetzliche Rentenversicherungen_US
dc.subject.stwRentabilitäten_US
dc.subject.stwErwerbsverlaufen_US
dc.subject.stwVerteilungswirkungen_US
dc.subject.stwDeutschlanden_US
dc.titleProfitability of pension contributions: Evidence from real-life employment biographiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn667085505en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:diw:diwwpp:dp1057en_US

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