Pension Systems Matter for Wealth Accumulation and Distribution

Katja Mann; Joydeep Bhattacharya; Anna Grodecka-Messi; Torben M. Andersen

Pension Systems Matter for Wealth Accumulation and Distribution

Katja Mann, Joydeep Bhattacharya, Anna Grodecka-Messi, Torben M. Andersen

Department of Economics

Research output: Other contribution › Net publication - Internet publication › Communication

Abstract

Retirement saving is at the centre of the debate on rising income and wealth inequality. This column studies the role of the pension system in wealth accumulation and distribution in Denmark. The authors find that a pension reform in the late 1980s increased the savings rate and aggregate pension assets significantly by introducing mandated funded pensions. Moreover, it has had an equalising effect on the wealth distribution. The findings illustrate the importance of pension system design for the level and distribution of wealth.

Original language	English
Publication date	5 May 2022
Place of Publication	London
Publisher	Centre for Economic Policy Research
Publication status	Published - 5 May 2022

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abstract = "Retirement saving is at the centre of the debate on rising income and wealth inequality. This column studies the role of the pension system in wealth accumulation and distribution in Denmark. The authors find that a pension reform in the late 1980s increased the savings rate and aggregate pension assets significantly by introducing mandated funded pensions. Moreover, it has had an equalising effect on the wealth distribution. The findings illustrate the importance of pension system design for the level and distribution of wealth. ",

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AB - Retirement saving is at the centre of the debate on rising income and wealth inequality. This column studies the role of the pension system in wealth accumulation and distribution in Denmark. The authors find that a pension reform in the late 1980s increased the savings rate and aggregate pension assets significantly by introducing mandated funded pensions. Moreover, it has had an equalising effect on the wealth distribution. The findings illustrate the importance of pension system design for the level and distribution of wealth.

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