NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets

Sylvester J. Schieber, John B. Shoven

NBER Working Paper No. 4665
Issued in March 1994
NBER Program(s):   AG   PE

This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system. A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system. The primary result is that the pension system will cease being a source of national saving in the third decade of the next century. The paper speculates about the impact this may have on asset prices.

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