Household Saving Rates and the Design of Public Pension Programmes: Cross–Country Evidence

Richard Disney
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Richard Disney: University of Nottingham and Institute for Fiscal Studies, London. Tel: +44 1159 515619. richard.disney@nottingham.ac.uk

National Institute Economic Review, 2006, vol. 198, issue 1, 61-74

Abstract: I argue that the offsetting effect of public pension contributions on household retirement saving depends on how closely the public pension programme imitates a private retirement saving plan (i.e. the ‘actuarial’ content of the public pension programme)–the closer the design of the programme to a private retirement saving plan, the higher the offset. I estimate the determinants of household saving rates in a cross–country panel, augmenting standard measures of public pension programme generosity and cost by indicators that proxy the actuarial component of the programme. These indicators affect saving rates as predicted.

Keywords: Pension reform; Household saving (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:niesru:v:198:y:2006:i:1:p:61-74

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