Abstract
This study aims at estimating the losses in old-age wealth and forfeited returns. The analysis is based on the German SAVE study in 2008. In comparison to a scenario without the crisis individuals on average lost 4.3% of their financial wealth. Considering only wealth in investment classes specific for old-age provision the average loss is 2%. Comparing wealth losses at retirement entry reveals that the rates of return of cohorts born between 1940 and 1990 decreased by around 0.1 percentage points (old-age provision wealth) or 0.2 percentage points (financial wealth), respectively.
Translated title of the contribution | Effects of financial crisis on the private pension schemes |
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Original language | German |
Pages (from-to) | 383-406 |
Number of pages | 24 |
Journal | Perspektiven der Wirtschaftspolitik |
Volume | 11 |
Issue number | 4 |
DOIs | |
State | Published - Nov 2010 |
Externally published | Yes |