Riester-Vorsorge zwischen Theorie und empirischer Evidenz: Wie hilfreich ist das Lebenszyklusmodell?

Felix Wilke

WSI-Mitteilungen, 2012, vol. 65, issue 3, 189-197

Abstract: The underlying concept of the welfare market for old age provision in Germany (Riester-Scheme) is explicitly based upon the assumption of a long-term rational behavior. This principle is captured by the life-cycle framework. It states that actors are trying to smooth consumption throughout life by saving and dissaving. This article tests empirically whether the hypotheses of the life-cycle framework are able to explain saving decisions for the retirement period by using SAVE 2008. The saving decision as such as well as the monetary contributions unveil a contradictory behavior compared to the theory: Especially in case of a high prospective future income the savings for retirement are high. Since the life cycle framework is not capable of explaining retirement saving decision, the article closes with reflections on theoretical and practical implications.

Date: 2012
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DOI: 10.5771/0342-300X-2012-3-189

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