Pension reform in Germany: The impact on retirement decisions


Berkel, Barbara ; Börsch-Supan, Axel


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URL: https://madoc.bib.uni-mannheim.de/289
URN: urn:nbn:de:bsz:180-madoc-2891
Document Type: Working paper
Year of publication: 2003
The title of a journal, publication series: MEA Discussion Papers
Volume: 036
Place of publication: Mannheim
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Veröffentlichungen des MEA (Mannheim Research Institute For the Economics of Aging) > MEA Discussion Papers
Subject: 330 Economics
Subject headings (SWD): Altersversorgung , Reform
Abstract: 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 “Rürup 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 “Rürup Commission” would raise the effective average age of retirement of men by about eight months. If the actuarial adjustment factor is increased from 3.6% to 6% per year, the effective average retirement age rises by almost two years. The effects are considerably weaker for women.

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Berkel, Barbara ; Börsch-Supan, Axel (2003) Pension reform in Germany: The impact on retirement decisions. Open Access MEA Discussion Papers Mannheim 036 [Working paper]
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