The German Retirement Benefit Formula: Drawbacks and Alternatives

The German Retirement Benefit Formula: Drawbacks and Alternatives

In this paper we identify a number of objectionable features of the German retirement benefit formula. We show that groups of insureds with higher than average life expectancy, in particular high-income groups, are subsidized by the rest of the membership because the formula neglects differences in group-specific life expectancy. Furthermore, the current formula leads to undesirable long-run ef...

Optimal retirement benefit guarantees

The majority of countries that switched to funded private account retirement systems opted to complement such systems with explicit guarantees to retirees and agents saving for retirement. The motivation was that a social insurance system should provide a minimum standard of living in retirement. This paper studies the optimal design of such guarantees. Particular attention is paid to moral haz...

Introduction to “rethinking Teacher Retirement Benefit Systems”

Tele-rehabilitation the benefits and drawbacks

The Covid-19 pandemic has impacted negatively on our society and resulted in numerous deaths. It had an effect on every facet of health-care delivery. Rules, regulations, and payment policies were changed to allow extensive use of telecommunications technology in lieu of in-person clinical visits to protect health care personnel and patients throughout the country from the risk of disease trans...

Finding alternatives to disability benefit receipt

This introduction offers a context for the articles in this thematic series by providing an overview of the programs that provide cash and in-kind supports to people with disabilities in the United States, summarizes the increasing reliance on these programs, and describes the challenges associated with reducing dependency on these programs. It then briefly discusses the articles in this themat...