|Title||How Does Pension Coverage Affect Household Saving. Final Report|
|Year of Publication||1994|
|Institution||Washington, DC, Urban Institute|
|Keywords||Adult children, Consumption and Savings, Employment and Labor Force, Income, Methodology, Pensions, Retirement Planning and Satisfaction|
This paper analyzes the extent to which substitution between pension coverage and household-level saving occurs at the micro level. Data from the beta release of the Health and Retirement Study (HRS) which covered people age 51 to 61 in 1992 is used. The results are mixed. Although there appears to be some substitution between household saving and pension coverage in the top half of the income distribution, the level differences in accumulated wealth seem to fall short of complete offset. Evidence that household wealth accumulation does not vary significantly by type of pension coverage is also found. The paper explores various explanations for why the pension offset is missing or incomplete.
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