How an unfunded pension system looks like defined benefits but works like defined contribtuions: the German pension reform

Axel Börsch-Supan, Anette Reil-Held and Christina Benita Wilke

No 07-09, Papers from Sonderforschungsbreich 504

Abstract: This paper describes the German pension reform process 1992-2007 with a stress on a remark-able development: the public pay-as-you-go-financed pension system has almost silently moved from a traditional defined benefit system to a system which works in many respects like a defined contribution system. The paper combines economic with political considerations, hopefully offering a few lessons that are useful also for other countries.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:mnh:spaper:2558

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