Carrot or stick choice

By Cornelia Schmid and Klaus StiefermannJune 2006 (Magazine)

The reforms of Germany’s pension system (the fundamental pension reform in 2001 (‘Riester pension reform’) and the Pension Sustainability Act and the Retirement Income Act which became operative in 2005), with a reduction of the state benefit level and an increased focus on occupational and private pensions, were a operations ...