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Raising the Retirement Age – Why Should Anybody Lose? / Anhebung des Rentenzugangsalters – Muss es Verlierer geben?

Author

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  • Hirte Georg

    (Wirtschaftswissenschaftliche Fakultät Ingolstadt der Katholischen Universität Eichstätt, Auf der Schanz 49, D-85049 Ingolstadt, Germany)

Abstract

This paper questions the view that a rise of the retirement age does not reduce the financial problems of a pay-as-you-go public pension system if individuals receive compensations for additional years spent in the labor force. It is shown that rather utility compensation is required than actuarial compensation. As the former is lower it creates an opportunity to raise the retirement age in a Pareto-improving way. By performing a dynamic CGE analysis for Germany, a compensation scheme is derived which is not only Pareto-improving but leads to a large reduction of the contribution rates.

Suggested Citation

  • Hirte Georg, 1999. "Raising the Retirement Age – Why Should Anybody Lose? / Anhebung des Rentenzugangsalters – Muss es Verlierer geben?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 219(3-4), pages 393-408.
    • Handle: RePEc:jns:jbstat:v:219:y:1999:i:3-4:p:393-408:n:1011
    DOI: 10.1515/jbnst-1999-3-426
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