Anreizeffekte und Angebotsinduzierung im Rahmen der Riester-Rente: Eine empirische Analyse geschlechts- und sozialisationsbedingter Unterschiede

Christian Pfarr · Udo Schneider

32 citations0/0 files storedPerspektiven der Wirtschaftspolitik

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Financial Literacy, Pension, Retirement Analysis Social Policy and Reform Studies Economic Policies and Impacts

Abstract

Abstract In 2001, the voluntary Riester pension scheme was implemented in Germany. Financial subsidies should provide incentives to increase private pension savings. In this paper, we hypothesize that these publicly subsidized savings are mainly driven by the incentives of child benefits and that supplier induced demand is an important factor. Using data from the Socio-economic Panel we analyze the key determinants in the choice of a Riester-pension. We find a higher probability to sign a Riester contract for those with higher income, higher education and children. Furthermore, we show that a contact with an insurance agent in the previous year is a major factor for the possession of a Riesterpension. Separate estimations regarding gender and socialization confirm our hypothesis of heterogeneous determinants.

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References

2021Econometric Analysis of Panel Data 2007Good-Bye Lenin (or Not?): The Effect of Communism on People's Preferences 1984Chapter 22 Panel data 2007The Gender Income Gap and the Role of Education 2008The Response of Household Saving to the Large Shock of German Reunification 2008Saving incentives, old-age provision and displacement effects: evidence from the recent German pension reform 2009The Riester Scheme and Private Savings: An Empirical Analysis based on the German SOEP

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2011Financial Literacy, Riester Pensions, and Other Private Old Age Provision in Germany 2012Subjective Life Expectancy and Private Pensions 2012Choosing between subsidized or unsubsidized private pension schemes: evidence from German panel data 2018Distributional Effects of Subsidizing Retirement Savings Accounts: Evidence from Germany

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