Die Riester-Förderung — Mangelnde Information als Verbreitungshemmnis

Coppola, Michela; Gasche, Martin

doi:10.1007/s10273-011-1302-y

Cited by 18 publications

(6 citation statements)

References 1 publication

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“…This reduction was to be compensated for by providing additional private and occupational pension arrangements. However, none of these additional pension provision options was made mandatory, and the take-up of such options has been very patchy ever since their introduction (Coppola and Gasche, 2011;Kistler and Trischler, 2014: 207;Geyer and Himmelreicher, 2021;. Those with less lucrative employment biographiesi.e.…”

Section: Hypothesesmentioning

confidence: 99%

The retirement impact on housing cost burden: are homeowners better off than tenants after retirement?

et al. 2023

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Existing research on housing cost burden focuses on its evolution over time. Few empirical studies, meanwhile, investigate changes in housing cost burden as a function of age. Literature is also scarce on how people's housing cost burden is affected by the act of retiring. In order to fill this research gap, we examine how the burden of housing costs tends to change after retirement and how the impact of retirement on housing cost burden differs for tenants as compared to homeowners. Taking advantage of the longitudinal data provided by the German Socio-Economic Panel (1993–2019), we estimate fixed effects regressions and model impact functions to estimate how people's housing cost burdens change after they retire. In addition, we interact the retirement event with tenure status. Our results show that retirement is associated with an increase in housing cost burden and that this association is stronger among tenants than among homeowners. We contribute to the literature on housing cost burden by taking a longitudinal perspective and showing that critical life events such as retirement do have an impact on the financial pressures exerted on households by housing costs and can even exacerbate the existing inequality in terms of housing cost burden between tenants and homeowners. We also demonstrate the importance for policy makers and future research of identifying social groups that may be particularly prone to financial overburden as a result of elevated housing costs in old age in order to implement policies that avoid such overburden and prevent the increase in social inequality after retirement.

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Section: Hypothesesmentioning

confidence: 99%

The retirement impact on housing cost burden: are homeowners better off than tenants after retirement?

et al. 2023

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“…However, people only respond to incentives they know about (Chan and Stevens, ). In the German context, Coppola and Gasche () show that a large share of the population is not well‐informed about the incentives provided by the Riester scheme. The authors compare the self‐assessed eligibility for state‐subsidies under the Riester scheme with respondents’ de facto eligibility, which can be observed in the SAVE data.…”

Section: Empirical Evidence From Germanymentioning

confidence: 99%

Savings in Times of Demographic Change: Lessons From the German Experience

Börsch‐Supan

Bucher‒Koenen²,

Coppola³

et al. 2015

Journal of Economic Surveys

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Abstract. Pension reforms in many developed countries make individuals shoulder a bigger share of longevity and income risks. The desired response is that individuals accumulate private assets for retirement. Whether this actually takes place, is of paramount relevance for scientists and policy makers. We take Germany as an example: Twenty years of pension reform have transformed the monolithic German pension system into a multipillar system. Formerly generous public pension benefits are gradually being reduced, whereas substantial incentives are granted to occupational and private saving schemes. Has this transition worked out? We survey the reform steps and households' reactions: How did individuals adjust their labor market behavior? How did private and occupational pension plans take off? How do behavioral adjustments vary in the population? Most Germans adapted to the new situation. Both actual and expected retirement decisions changed and the share of households without supplementary pensions decreased from 73% to 39% in little more than a decade. This is a remarkable success. Nonetheless, households with low education, low income and less financial education did neither adjust their retirement behavior nor pick up supplementary pension plans and are thus likely to face difficulties in bridging the gap arising in future pension income.

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“…Bei einer genaueren Analyse konnten Coppola und Gasche (2011) zeigen, dass hinsichtlich der Selbsteinschätzung in Gegenüberstellung mit der beobachteten För-derberechtigung in allen Einkommensgruppen eine starke Unterbewertung der Förderberechti-gung erfolgt, die gerade im untersten Einkommensquintil besonders groß ist. Bei Coppola und Gasche (2011) ergibt sich die beobachtete Förderberechtigung implizit aus den Angaben der Befragten zu anderen Fragen in SAVE.…”

Section: Systemakzeptanzunclassified

Ergänzende Altersvorsorge – Akzeptanz, Vertrauen und Ausgestaltung aus Verbrauchersicht

Haupt¹,

Yollu-Tok²

2014

VJH

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zusammenfassung: Studien zu privaten Altersvorsorgeprodukten beschäftigen sich zunehmend mit der Informiertheit der Konsumentinnen/Konsumenten. Mithilfe einer repräsentativen Panelumfrage betrachtet dieser Beitrag darüber hinausgehende Erklärungsansätze für nachfrageseitige Hemmnisse, die eine Präfe-renzbildung für ergänzende Altersvorsorge, speziell für Riester-Produkte, verhindern können: fehlende oder unzureichende Systemakzeptanz, fehlendes oder unzureichendes Systemvertrauen und die fehlende oder unzureichende Bereitschaft, sich mit der Ausgestaltung der dritten Säule der Altersvorsorge zu beschäftigen. Es zeigt sich, dass ein Großteil der Befragten die normative Ausrichtung der Reform teilt und nicht nur den Staat, sondern auch die/den Einzelne/n als verantwortlich für eine ausreichende Altersvorsorge sieht. Aber auch wenn damit bei Vielen eine Präferenz für eine ergänzende Altersvorsorge besteht, ist ein mangelndes Vertrauen in das Alterssicherungssystem zu attestieren. Anbieterinnen/Anbietern und Nachfragerinnen/Nachfragern sozialer Güter und Dienstleistungen ist demnach allokativ effizient. Das optimale Ergebnis soll aber gleichzeitig auch die sozialsummary: Studies on private pension provision products have been focusing increasingly on the level of information among consumers. With the aid of a representative panel survey, this essay looks at more extensive approaches to an explanation for restraints on the demand side that may obstruct preference formation with regard to supplementary pension schemes, particularly Riester products: acceptance of and confidence in the system, as well as the readiness to learn about the configuration of the third pillar in old-age provision. The survey shows that the majority of respondents share the view on the normative approach of the reform and consider both the state and the individual responsible for sufficient retirement planning. Despite the fact, however, that many are inclined to take out supplementary pension insurance, a lack of confidence in the old-age provision system is to be acknowledged. Finally, the respondents tend to refuse to get acquainted with third pillar models, which is exemplified by the cost structure and eligibility for grant funding of Riester products. The consumer policy should therefore be complemented in such a way that not only information for potential consumers is made available, but also that consumer confidence in the third pillar of the old-age provision system is strengthened in general. It can also be concluded from these results that, with a view to Riester pensions, information on the eligibility for grant funding should continue to be provided and, further, that more transparent cost structures may also help promote the propagation of supplementary private pension provision.

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Die Riester-Förderung — Mangelnde Information als Verbreitungshemmnis

Cited by 18 publications

References 1 publication

The retirement impact on housing cost burden: are homeowners better off than tenants after retirement?

The retirement impact on housing cost burden: are homeowners better off than tenants after retirement?

Savings in Times of Demographic Change: Lessons From the German Experience

Ergänzende Altersvorsorge – Akzeptanz, Vertrauen und Ausgestaltung aus Verbrauchersicht

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