Vom Arbeitsmarkt in den Ruhestand: Die Einkommen deutscher Rentner und Rentnerinnen

Anette Reil-Held () and Reinhold Schnabel
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Anette Reil-Held: Mannheim Research Institute for the Economics of Aging (MEA) and Sonderforschungsbereich 504, Postal: L 13,15 D-68131 Mannheim

No 99-14, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: This paper considers the transition from the labor market to retirement and the income position of elderly households in Germany. The empirical analysis is based on the German Socio-Economic Panel, the Income and Expenditure Survey 1993, and on social security data. The analysis reveals that exiting from the labor market and receiving a pension very often do not coincide, since there exist formal or informal pre-retirement schemes that are widely used. Moreover, retirement is not a time of inactivity: Labor incomes do play an important role at least up to age 70. The income situation of a large majority of elderly households is good relative to the active generations. Welfare receipt of elderly shows that poverty is not a typical problem of elderly. Yet, there remain a few pockets of poverty since public pensions are strictly work related. Particularly, women often used to have interrupted work histories. The situation of women has improved during the last 20 years and is still improving due to a further rise in female labor market participation. The future income situation of elderly will be challenged by population aging and the inevitable reduction in replacement rates of public pensions. However, increased private savings, increased labor market participation, and a reduction in early retirement may compensate this.

Pages: 19 pages
Date: 1999-02-28
New Economics Papers: this item is included in nep-cdm and nep-pub
Note: This research is part of the SFB 504 project B1, "Neoclassical and behavioral approaches to life-cycle saving and portfolio decisions." Parts of the paper are based on joint work with Axel Börsch-Supan, whom we would like to thank for his support. Financial Support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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Working Paper: Vom Arbeitsmarkt in den Ruhestand: die Einkommen deutscher Rentner und Rentnerinnen (1999)
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