Aktive og passive valg i pensionsopsparingen

Torben Heien Nielsen

Aktive og passive valg i pensionsopsparingen

Abstract

This paper reviews two papers from my own research. I show that the effect of pension policies are highly dependent on which type of decision maker the policy targets. Specifically, the effectiveness of the policy is stronger if it affects passive choice. Such policies, e.g., employer pensions, are extremely effective in increasing total individual savings. Tax deductions on the other hand are ineffective. The reason is that an estimated 85 % of the population are passive savers, who do not respond to changes in policies. Consequently, an increased labor market pension rate will also make their total savings increase. The remaining 15 % are active savers, who respond to policy changes by reshuffling their savings portfolios, which effectively leaves their total savings unchanged. Finally, I show that tax incentives affect the individuals’ savings through their employers, because they tend to incorporate the employees’ preferences.

Original language	Danish
Journal	Nationaløkonomisk tidsskrift
Volume	1
Pages (from-to)	1-16
ISSN	0028-0453
Publication status	Published - 2017

Keywords

Faculty of Social Sciences

Access to Document

https://www.djoef-forlag.dk/sites/nt/files/2017/article/2017_1_2.pdfLicence: Unspecified

Cite this

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title = "Aktive og passive valg i pensionsopsparingen",

abstract = "This paper reviews two papers from my own research. I show that the effect of pension policies are highly dependent on which type of decision maker the policy targets. Specifically, the effectiveness of the policy is stronger if it affects passive choice. Such policies, e.g., employer pensions, are extremely effective in increasing total individual savings. Tax deductions on the other hand are ineffective. The reason is that an estimated 85 % of the population are passive savers, who do not respond to changes in policies. Consequently, an increased labor market pension rate will also make their total savings increase. The remaining 15 % are active savers, who respond to policy changes by reshuffling their savings portfolios, which effectively leaves their total savings unchanged. Finally, I show that tax incentives affect the individuals{\textquoteright} savings through their employers, because they tend to incorporate the employees{\textquoteright} preferences.",

keywords = "Det Samfundsvidenskabelige Fakultet, Pensionsopsparing, aktive og passive valg, obligatoriske ordninger, skattesubsidier, H2, H3, D14, J32",

author = "Nielsen, {Torben Heien}",

year = "2017",

language = "Dansk",

volume = "1",

pages = "1--16",

journal = "National{\o}konomisk tidsskrift",

issn = "0028-0453",

publisher = "Nationaloekonomisk Forening",

}

TY - JOUR

T1 - Aktive og passive valg i pensionsopsparingen

AU - Nielsen, Torben Heien

PY - 2017

Y1 - 2017

N2 - This paper reviews two papers from my own research. I show that the effect of pension policies are highly dependent on which type of decision maker the policy targets. Specifically, the effectiveness of the policy is stronger if it affects passive choice. Such policies, e.g., employer pensions, are extremely effective in increasing total individual savings. Tax deductions on the other hand are ineffective. The reason is that an estimated 85 % of the population are passive savers, who do not respond to changes in policies. Consequently, an increased labor market pension rate will also make their total savings increase. The remaining 15 % are active savers, who respond to policy changes by reshuffling their savings portfolios, which effectively leaves their total savings unchanged. Finally, I show that tax incentives affect the individuals’ savings through their employers, because they tend to incorporate the employees’ preferences.

AB - This paper reviews two papers from my own research. I show that the effect of pension policies are highly dependent on which type of decision maker the policy targets. Specifically, the effectiveness of the policy is stronger if it affects passive choice. Such policies, e.g., employer pensions, are extremely effective in increasing total individual savings. Tax deductions on the other hand are ineffective. The reason is that an estimated 85 % of the population are passive savers, who do not respond to changes in policies. Consequently, an increased labor market pension rate will also make their total savings increase. The remaining 15 % are active savers, who respond to policy changes by reshuffling their savings portfolios, which effectively leaves their total savings unchanged. Finally, I show that tax incentives affect the individuals’ savings through their employers, because they tend to incorporate the employees’ preferences.

KW - Det Samfundsvidenskabelige Fakultet

KW - Pensionsopsparing

KW - aktive og passive valg

KW - obligatoriske ordninger

KW - skattesubsidier

KW - H2

KW - H3

KW - D14

KW - J32

M3 - Tidsskriftartikel

SN - 0028-0453

VL - 1

SP - 1

EP - 16

JO - Nationaløkonomisk tidsskrift

JF - Nationaløkonomisk tidsskrift

ER -