Supplementary private pensions and saving: evidence from Spain*

José Ignacio Antón, Rafael Muñoz de Bustillo and Enrique Fernandez-Macias

Journal of Pension Economics and Finance, 2014, vol. 13, issue 4, 367-388

Abstract: This paper analyzes the effect of private supplementary pensions (and the tax reliefs that aim to stimulate such plans) on national saving in Spain. It tries to test the alleged positive effects of private pension plans on savings. Using a longitudinal dataset and fixed-effects methods, we find that tax-favored contributions to a pension fund are not associated with a lower consumption level, which implies that this policy does not increase national saving. The empirical results on the impact of contributions on private household wealth are less clear.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:13:y:2014:i:04:p:367-388_00

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