NBER Working Papers and Publications
|August 2003||Pension Reform in Germany: The Impact on Retirement Decisions|
with Axel Borsch-Supan: w9913
The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper focuses in particular on the long-term implications of the changes implemented in pension legislation since 1992 and the reform options discussed by the German Social Security Reform Commission installed in 2002, the so called R?rup Commission'. Our simulations show that the early-retirement pension adjustment factors introduced by the 1992 pension reform will, in the long term, raise the average effective age of retirement for men by somewhat less than two years. The across-the-board two-year increase in all the relevant age limits proposed by the R?rup...
Published: Berkel, Barbara and Axel Borsch-Supan. "Pension Reform in Germany: The Impact on Retirement Decisions." FinanzArchiv 60, 3 (2004): 393-421.