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Ergänzende Kapitaldeckung der Altersvorsorge: Gründe, Gestaltungsoptionen und Auswirkungen

Author

Listed:
  • Nöh Lukas

    (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung Gustav-Stresemann-Ring 11 65189 Wiesbaden Deutschland)

  • Schaffranka Claudia

    (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung Gustav-Stresemann-Ring 11 65189 Wiesbaden Deutschland)

  • Werding Martin

    (Ruhr-Universität Bochum Fakultät für Sozialwissenschaft Universitätsstr. 150 44801 Bochum Deutschland)

Abstract

Der demografische Alterungsprozess setzt das Umlagesystem der Gesetzlichen Rentenversicherung unter Druck. Doch die Riester-Renten als Instrument der privaten Altersvorsorge stecken 20 Jahre nach ihrer Einführung in einer Sackgasse. Die Erfahrungen mit ihnen zeigen, dass die ergänzende kapitalgedeckte Vorsorge insgesamt verbindlicher, transparenter und renditeträchtiger werden muss als bisher. Nach internationalen Vorbildern eignen sich dafür Anlagen in stark aktienbasierten Fonds mit breiter Diversifizierung. Alle Erwerbstätigen sollten automatisch einbezogen werden, dem jedoch widersprechen können (Opt-out). Ein öffentlich verwalteter Fonds als Default-Option, der in Konkurrenz mit privaten Anbietern steht, könnte einen Beitrag zur Senkung der Transaktionskosten leisten. Verschiedene Simulationen zeigen, dass mit einer solchen ergänzenden Vorsorge durchgängig kombinierte Sicherungsniveaus von mehr als 48 Prozent erzielt werden.

Suggested Citation

  • Nöh Lukas & Schaffranka Claudia & Werding Martin, 2024. "Ergänzende Kapitaldeckung der Altersvorsorge: Gründe, Gestaltungsoptionen und Auswirkungen," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 25(1), pages 28-44, March.
    • Handle: RePEc:bpj:pewipo:v:25:y:2024:i:1:p:28-44:n:3
    DOI: 10.1515/pwp-2023-0029
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    More about this item

    Keywords

    Kapitalgedeckte Altersvorsorge; demografische Alterung;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy

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