NDLI: An Assessment of Alternatives for the Dutch First Pension Pillar System : The Design of Pension Schemes

Content Provider	Springer Nature Link
Author	Draper, Nick Nibbelink, André Uhde, Johannes
Copyright Year	2015
Abstract	The ageing of the Dutch population, resulting in an increase in the number of retirees relative to the working population, has induced a debate about the sustainability of the Dutch first pillar pension scheme (AOW). This study explores possible alternatives for the AOW. A stochastic partial equilibrium model is used to study intragenerational insurance against longevity and productivity risk. The model shows the welfare, labour-market and saving effects of a shift from a Beveridge towards a Bismarck system in which pension rights depend on labour-market history. The main conclusion is that a shift of first pillar pensions from a Beveridge towards a Bismarck system is not necessarily welfare improving from an ex-ante insurance perspective, i.e. before the veil of ignorance is lifted. Moreover, a means test of the first pillar against wealth income, which implies a lower AOW when an individual has wealth income and a lower pension premium for everyone, does not improve welfare in the setting of the model considered in this study.
Starting Page	281
Ending Page	302
Page Count	22
File Format	PDF
ISSN	0013063X
Journal	De Economist
Volume Number	163
Issue Number	3
e-ISSN	15729982
Language	English
Publisher	Springer US
Publisher Date	2015-05-24
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Public pensions Microeconomic risk Welfare analysis Economics general Economic Theory Economic Policy Microeconomics Macroeconomics/Monetary Economics Public Finance & Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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