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Measuring intra-generational redistribution in PAYG pension schemes
Public Choice ( IF 1.780 ) Pub Date : 2021-07-03 , DOI: 10.1007/s11127-021-00914-w
Jonas Klos 1 , Tim Krieger 2, 3 , Sven Stöwhase 4
Affiliation  

Voters in ageing societies expect pension reforms to be both inter-generationally and intra-generationally fair. In this paper, we propose a global measure of intra-generational redistribution in pay-as-you-go pension schemes as a basis for voters’ evaluations of reforms. Our novel index only requires information on contributions by and pension benefits paid to retirees, enabling us to measure intra-generational redistribution isolated from possible inter-generational redistribution. We rely on the contribution records of approximately 100,000 Germans, who progressed into retirement in 2007–2015, to measure the level of intra-generational redistribution in the German statutory pension scheme (GRV). A recent reform of the childcare benefit provision, which became effective in 2014, confirms the predictions of our index. The reform introduced additional benefits for a substantial subgroup of German mothers, owing to which the index value for women, but not for men, jumps up. Our findings suggests that GRV fulfills the ideal of a Bismarckian pension system without intra-generational redistribution for men, while women benefit significantly from intra-generational redistribution.



中文翻译:

衡量现收现付养老金计划中的代内再分配

老龄化社会的选民期望养老金改革在代际和代内都公平。在本文中,我们提出了现收现付养老金计划中代内再分配的全球衡量标准,作为选民对改革评估的基础。我们的新指数只需要有关退休人员的供款和支付给退休人员的养老金福利的信息,使我们能够衡量与可能的代际再分配隔离的代内再分配。我们依靠大约 100,000 名在 2007-2015 年进入退休生活的德国人的缴费记录来衡量德国法定养老金计划 (GRV) 中的代内再分配水平。最近于 2014 年生效的托儿福利条款改革证实了我们指数的预测。改革为大量德国母亲带来了额外的福利,因此女性的指数值上升,而男性的指数值没有上升。我们的研究结果表明,GRV 实现了俾斯麦养老金体系的理想,而没有男性的代内再分配,而女性则从代内再分配中受益匪浅。

更新日期:2021-07-06
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