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Determinants of retirement in Germany Dr. Erika Schulz.

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Presentation on theme: "Determinants of retirement in Germany Dr. Erika Schulz."— Presentation transcript:

1 Determinants of retirement in Germany Dr. Erika Schulz

2 Erika Schulz 12.06.2003 Tasks of WP 3 –To show how health factors affect labour supply and early retirement –Calculation of net replacement rates valuation of household work separate calculations for unhealthy with altered labour supply and household work

3 Erika Schulz 12.06.2003 Requested data –Wage of a reference worker in households –pension level and earnings for a average production worker –average retirement age

4 Erika Schulz 12.06.2003 Hourly rates for household workers

5 Erika Schulz 12.06.2003 Hourly rates for household workers

6 Erika Schulz 12.06.2003 Hourly rates for household workers

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10 Erika Schulz 12.06.2003 Kind of pensions in Germany –Old-age pensions (Since 1889) Regular old age pensions (65 years) Old-age pensions for long-standing insured (since 1972; since 2000 63->65) Old-age pensions for severly disabled persons, with vocational invalidity or general invalidity (since 1972; new 60->63 years) Old-age pensions on account of unemployment or following old- age part-time work (since 1929; new 60->65 years, limited to persons born before 1952) Old-age pensions for women (since 1957; new 60->65, limited to persons born before 1952) –Pensions on account of decreased earning capacity Vocational/general invalidity (since 1889) New system (since 2000) –Pensions on account of death

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