Welfare effects of alternative pension reforms: Assessing the transition costs for French socio-occupational groups

Pierre-Yves Hénin and Thomas Weitzenblum ()

Journal of Pension Economics and Finance, 2005, vol. 4, issue 3, 249-271

Abstract: In this paper, we assess the welfare costs and gains of different scenarios of pension reforms in France, using a life-cycle model including various sources of heterogeneity and distinguishing between socio-occupational groups. The pension reforms considered combine features regarding the generosity of the pension system as well as features regarding the financing schemes: PAYG, the build-up of a temporary fund and that of a permanent one. We focus on both macro and distributional issues. It appears that (i) a considerable increase in savings is to be expected, even in the case where pensions remain generous, (ii) a considerable crowding-out effect would occur in the case of the constitution of a fund trust, (iii) reducing the generosity of pension seems relatively more beneficial to low-income low-life expectancy agents, while (iv) postponing the legal retirement age benefits relatively more high-income high-life expectancy agents.

Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
Working Paper: Welfare Effects of Alternative Pension Reforms: Assessing the Transition Costs for French Socio-Occupational Groups (2010)
Working Paper: Welfare effects of alternative pension reforms: Assessing the transition costs for French socio-occupational groups (2005)
Working Paper: Welfare effects of alternative pension reforms: Assessing the transition costs for French socio-occupational groups (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:4:y:2005:i:03:p:249-271_00

Access Statistics for this article

More articles in Journal of Pension Economics and Finance from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().