The German pension reform of 2001 was a milestone on the road towards pension individualisation. It enhanced the funded occupational (and private) pension system (Riester-pensions), and therefore shifted investment risks to employers and individuals. The new occupational scheme allows for different types of pension vehicles that are either defined benefit (DB) or defined contribution (DC) plans. Since all such schemes are embedded in multiple layers of institutional insurance mechanisms, incl...Expand abstract
- WPG 10-16
- Working Papers in Employment, Work and Finance
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The German model of risk distribution in supplementary occupational pensions.
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