CPC recently welcomed Dr Christian Dudel who gave a seminar proposing a general framework for the estimation of pension adequacy standards.
Christian Dudel is a research scientist at the Max Planck Institute for Demographic Research (MPIDR) in Rostock, Germany. He received his PhD in Social Statistics from the University of Bochum. His research interests focus on the modelling of life courses, causal inference and partial identification, inequality measurement, and analysing consequences of demographic change.
Due to increasing life expectancy pension provisions need to last longer and longer, casting doubt on the financial security of pensioners. Surprisingly, it is unclear what pension level can be considered to be adequate. Applying a range of econometric estimation techniques to data from the U.S., England, and Germany, this research finds that a net pension income roughly equal to 100% of the last net working life income can be considered adequate. Sensitivity checks suggest that this finding is robust.
A recording of the seminar is available on the CPC YouTube channel:
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