Eliciting Individual Preferences for Pension Reform

Yosr Abid Fourati () and Cathal O'donoghue ()
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Yosr Abid Fourati: National University of Ireland, Galway

No 4479, IZA Discussion Papers from Institute for the Study of Labor (IZA)

Abstract: Pension systems have recently been under scrutiny because of the expected population ageing threatening its sustainability. This paper's contribution to the debate is from a political economic perspective as it uses data from a choice experiment to investigate individual preferences for an alternative state pension scheme based around preferences for cost, poverty, retirement age and pension parameters. Answers are used to estimate a lifecycle utility model of preferences towards pensions' parameters. Results suggest that individuals’ value orientation is an important determinant of their preferences. Respondents' income determines which degree of redistribution is preferred. However, preferences according to age are in contradiction with what is suggested in theory.

Keywords: redistribution; pension system reform; population ageing; stated preferences (search for similar items in EconPapers)
JEL-codes: H0 I3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-dcm, nep-pol and nep-upt
Date: 2009-10

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Working Paper: Eliciting Individual Preferences for Pension Reform (2009)
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