What is an Adequate Standard of Living During Retirement?

Johannes Binswanger () and Daniel Schunk ()

No 2008-82, Discussion Paper from Tilburg University, Center for Economic Research

Abstract: Many economists and policy-makers argue that households do not save enough to maintain an adequate standard of living during retirement. However, there is no consensus on the answer to the underlying question what this standard should be, despite the fact that it is crucial for the design of saving incentives and pension reforms. We address this question with a survey, individually tailored to each respondent’s financial situation, conducted both in the U.S. and the Netherlands. Key findings are that adequate levels of retirement spending exceed 70 percent of working life spending, and minimum acceptable replacement rates depend strongly on income.

JEL-codes: D91 H55 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-lab
Date: 2008
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Related works:
Working Paper: What is an Adequate Standard of Living during Retirement? (2008)
Working Paper: What is an adequate standard of living during retirement? (2008)
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