Erwarteter Bezug von Grundsicherung im Alter: Verhaltensunterschiede und Fehleinschätzungen

Means testing of social security helps with targeting benefits to those in need. However, it might also discourage individual savings and work effort. In Germany, social security in the old age, so called üGrundsicherung im Alterý, is means-tested. We find that 38% of German households believe that they are very likely to be dependent on üGrundsicherung im Alterý in the future. Those households differ in their socio-economic characteristics, savings and labour market behaviour from households who do not expect to be dependent on this particular programme. Our analysis suggests that half of the households expecting to receive üGrundsicherung im Alterý misjudge their eligibility as they have already accumulated enough public pension rights today to place them above the threshold of the means test. Differences between the two groups exist with respect to their knowledge about the pension system as well as the degree of pessimism that might favour wrong expectations.