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Measuring Intra-Generational Redistribution in PAYG Pension Schemes

Jonas Klos, Tim Krieger and Sven Stöwhase

No 8200, CESifo Working Paper Series from CESifo

Abstract: In this paper, we propose a novel index for measuring intra-generational redistribution in pay-as-you-go pension schemes. Our index solely requires information on contributions and pension benefits of retirees, enabling us to measure intra-generational redistribution isolated from possible inter-generational redistribution. We use contribution records of approx. 100,000 German individuals, who progressed into retirement in 2007-2015, to measure the level of intra-generational redistribution in the German statutory pension scheme (GRV). A recent reform of childcare benefit provision, which became effective in 2014, confirms the predictions of our index. The reform introduced additional benefits for a subgroup of substantial size of German mothers, due to which the index value for women, but not for men jumps up. Our findings suggests that GRV fulfils the ideal of a Bismarckian pension system without intra-generational redistribution for men, while women benefit from intra-generational redistribution.

Keywords: PAYG pension systems; intra-generational redistribution; Beveridge vs. Bismarck; index; microdata; Germany (search for similar items in EconPapers)
JEL-codes: H55 D31 C55 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-age and nep-eur
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