The Australian government has recently strengthened the age pension means test by raising the income taper and also introduced labour earnings exemptions from the means testing to encourage labour supply of older Australians. This paper assesses economy-wide implications of further hypothetical policy changes to the means testing of the age pension.

We analyze lifetime earnings histories of white males during 1960-2010 and categorize the labor force status of every worker as either working full-time, partially retired or fully retired.

Dag Westhrin fra LO Stat mener det nå er på høy tid å kjempe for fremtidige generasjoner og ta en bred gjennomgang som sikrer arbeidstakere som veksler mellom privat og offentlig sektor en god pensjon.

This publication presents the results of the OECD project on mortality assumptions and longevity risk. The project looks first at the mortality tables typically used by pension funds and annuity providers to determine the amount of funding needed to meet future expected pension and annuity payments.

While concerns remain about individuals spending their retirement savings prior to retirement, more workers appear to be saving—not spending—their retirement plan distributions.

This Panel Paper reviews recent evidence on moral hazard in the insurance industry. We discuss three types of moral hazard and detail how each is an asymmetric information problem.

Mortality models used to assess longevity risk and retirement funding have been extended to stochastic models with trends and systematic risk. Systematic risk cannot be readily diversified in an insurance pool or pension fund. It is an important factor in assessing solvency and highlighting the tail risk in longevity insurance and pension products.

Mortality risk models have been developed to capture trends and common factors driving mortality improvement. Multiple factor models take many forms and are often developed and fitted to older ages. In order to capture trends from young ages it is necessary to take into account the richer age structure of mortality improvement from young ages to middle and then into older ages.

Means-testing pension benefits allows governments to accurately target poor pensioners while at the same time keeping the system small and pension outlays under control. With low contribution rates labor supply distortions are fairly modest in a means-tested system. With respect to savings distortions, the effects are not so clear-cut.

- Hva skal jeg gjøre? Hvilke valg skal jeg ta for å få best mulig alderspensjon? Dette er spørsmål som stilles mer og mer og viser at pensjonsordningene individualiseres. Mens de kollektive ordningene svekkes, sier Paul Bjerke i De Facto.

Mortality models used to assess longevity risk and retirement funding have been extended to stochastic models with trends and systematic risk. Systematic risk cannot be readily diversified in an insurance pool or pension fund.

Riksrevisjonen mener dagens AFP-ordning i privat sektor er underfinansiert med ni milliarder kroner.