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Household saving rates and the design of public pension programmes: cross-country evidence
External Authors
Disney, R.
Related Themes
Labour, Employment and WagesJournal
National Institute Economic Review, No. 198
External Resources
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.
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