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Pension funds saving individuation

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  • Charles Tapiero
  • Assa Birati

Abstract

This paper considers a pension insurance problem using an intertemporal framework. We assume a deterministic framework in order to obtain tractable and yet revealing results regarding the propensity to save for retirement. The essential conclusions of this paper include a condition for a single switch, that is, when the saver will decide the switching time, prior to retirement, to start saving. Because of the linear objective used in this paper, saving rates were found to be of the bang-bang type. In addition, we show that the tax effects are important. The richer the saver, the greater the tax advantages for pension savings. Copyright International Atlantic Economic Society 2000

Suggested Citation

  • Charles Tapiero & Assa Birati, 2000. "Pension funds saving individuation," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(4), pages 686-691, November.
    • Handle: RePEc:kap:iaecre:v:6:y:2000:i:4:p:686-691:10.1007/bf02295378
    DOI: 10.1007/BF02295378
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    References listed on IDEAS

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    1. Samwick, Andrew A., 1998. "New evidence on pensions, social security, and the timing of retirement," Journal of Public Economics, Elsevier, vol. 70(2), pages 207-236, November.
    2. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    3. Brugiavini, Agar, 1993. "Uncertainty resolution and the timing of annuity purchases," Journal of Public Economics, Elsevier, vol. 50(1), pages 31-62, January.
    4. Atkinson, A.B., 1987. "Income maintenance and social insurance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 13, pages 779-908, Elsevier.
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