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dc.contributor.authorBörsch-Supan, Axel H.
dc.contributor.authorWilke, Christina B.
dc.date.accessioned2007-04-25T19:39:22Z
dc.date.available2007-04-25T19:39:22Z
dc.date.issued2003-03
dc.identifier.urihttps://hdl.handle.net/2027.42/50578
dc.description.abstractGermany still has a very generous public pay-as-you-go pension system. It is characterized by early effective retirement ages and very high effective replacement rates. Most workers receive virtually all of their retirement income from this public retirement insurance. Costs are almost 12% of GDP, more than 2.5 times as much as the U.S. Social Security System. The pressures exerted by population aging on this monolithic system, amplified by negative incentive effects, have induced a reform process that began in 1992 and is still ongoing. This paper has two parts. Part A describes the German pension system as it has shaped the labor market from 1972 until today. Part B describes the reform process, which will convert the exemplary and monolithic Bismarckian public insurance system to a complex multi-pillar system. We provide a survey of the main features of the future German retirement system introduced by the so called "Riester Reform" in 2001 and an assessment in how far this last reform step will solve the pressing problems of the German system of old age provision.en
dc.description.sponsorshipSocial Security Administrationen
dc.format.extent582753 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.publisherMichigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104en
dc.relation.ispartofseriesWP 2003-041en
dc.titleThe German Public Pension System: How it Was, How it Will Been
dc.typeWorking Paperen
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationotherMannheim Research Institute for the Economics of Agingen
dc.contributor.affiliationotherNational Bureau of Economic Researchen
dc.contributor.affiliationumcampusAnn Arboren
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/50578/1/wp041.pdfen_US
dc.owningcollnameRetirement Research Center, Michigan (MRRC)


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