Pension adequacy standards: an empirical estimation strategy and results for the United States and Germany

Dudel, Christian; Schmied, Julian

doi:10.4054/mpidr-wp-2019-003

Cited by 3 publications

(2 citation statements)

References 66 publications

(121 reference statements)

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“…While this trade-off can be relaxed by redistribution within or across cohorts, requiring individuals to save more for their retirement imposes costs during working life that should be taken into account in the formulation of pension policy. However, assessing the adequacy of income in retirement is complicated by the diversity of labour market histories, wealth holdings, future health status, and preferences regarding consumption in retirement across the population (Dudel and Schmied, 2019;Poterba, 2015). One commonly used measure of retirement income adequacy is the income replacement rate, defined as the ratio of postretirement income (from pensions, annuitised wealth holdings, etc) to preretirement income (such as earnings during the years preceding retirement, or average earnings over the working life).…”

Section: Notementioning

confidence: 99%

“…3 Individuals may need less than their full pre-retirement income to maintain their level of consumption in retirement because they incur fewer work-related expenses, can devote more time to home production, generally pay less in taxes, no longer need to save for retirement, have fewer dependents, and are less likely to be servicing mortgage and other types of debt (Crawford and O'Dea, 2012;Dudel and Schmied, 2019;Munnell et al, 2015). On the other hand, uncertainty over future health and long-term care costs may necessitate a higher replacement rate.…”

Section: Introductionmentioning

confidence: 99%

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Income adequacy in retirement: Evidence from the Irish longitudinal study on ageing (TILDA)

Beirne¹,

Nolan²,

Roantree³

2020

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The mission of the Economic and Social Research Institute is to advance evidencebased policymaking that supports economic sustainability and social progress in Ireland. ESRI researchers apply the highest standards of academic excellence to challenges facing policymakers, focusing on 12 areas of critical importance to 21st Century Ireland. The Institute was founded in 1960 by a group of senior civil servants led by Dr T.K. Whitaker, who identified the need for independent and in-depth research analysis to provide a robust evidence base for policymaking in Ireland. Since then, the Institute has remained committed to independent research and its work is free of any expressed ideology or political position. The Institute publishes all research reaching the appropriate academic standard, irrespective of its findings or who funds the research. The quality of its research output is guaranteed by a rigorous peer review process. ESRI researchers are experts in their fields and are committed to producing work that meets the highest academic standards and practices. The work of the Institute is disseminated widely in books, journal articles and reports. ESRI publications are available to download, free of charge, from its website. Additionally, ESRI staff communicate research findings at regular conferences and seminars. The ESRI is a company limited by guarantee, answerable to its members and governed by a Council, comprising 14 members who represent a cross-section of ESRI members from academia, civil services, state agencies, businesses and civil society. The Institute receives an annual grant-in-aid from the Department of Public Expenditure and Reform to support the scientific and public interest elements of the Institute's activities; the grant accounted for an average of 30 per cent of the Institute's income over the lifetime of the last Research Strategy. The remaining funding comes from research programmes supported by government departments and agencies, public bodies and competitive research programmes.

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Section: Notementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Income adequacy in retirement: Evidence from the Irish longitudinal study on ageing (TILDA)

Beirne¹,

Nolan²,

Roantree³

2020

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Effects of public pensions on elderly poverty: insights from an ageing China

Zhang

2021

Post-Communist Economies

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Sustainability and Adequacy of Pension Systems: Importance of Innovative Risk Management

Djukic,

Ilic

2024

sfr

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In modern conditions, with an increase in the risk of poverty dueto inadequate pension income, a responsible approach is necessaryin terms of management in public and private pensionsystems. To maintain a decent standard of living for the elderlypopulation, the rights of non-pension and adequate pension incomehave been defined. Pensions should be commensurate withcontributions, it is necessary to provide equal opportunities forthe acquisition of pension rights for women and men and to themeans that create the conditions for a dignified life in old age.The goal of the work is to investigate the possibilities of adequatemanagement by state authorities, employers of pensionsystems, individuals, and interested parties with the applicationof innovative approaches and gain insight into the best systemsfor implementation in practice. The subject of the work is thesustainability of the pension system, with the application of riskfreemanagement principles. The method that will be applied isdescriptive, and comparative with the scientific literature of electronicdatabases of scientific journals and international databases.

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Pension adequacy standards: an empirical estimation strategy and results for the United States and Germany

Cited by 3 publications

References 66 publications

Income adequacy in retirement: Evidence from the Irish longitudinal study on ageing (TILDA)

Income adequacy in retirement: Evidence from the Irish longitudinal study on ageing (TILDA)

Effects of public pensions on elderly poverty: insights from an ageing China

Sustainability and Adequacy of Pension Systems: Importance of Innovative Risk Management

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