Mind the gap: inheritance and inequality in retirement wealth

Brenner, Lukas; Stolper, Oscar A.

[journal article]

dc.contributor.author	Brenner, Lukas	de
dc.contributor.author	Stolper, Oscar A.	de
dc.date.accessioned	2020-12-16T13:09:13Z
dc.date.available	2020-12-16T13:09:13Z
dc.date.issued	2020	de
dc.identifier.issn	2190-6335	de
dc.identifier.uri	https://www.ssoar.info/ssoar/handle/document/71004
dc.description.abstract	Drawing on detailed German panel data, we find that gifts and inheritances substantially increase households’ private pension savings in accounts which are costly or impossible to withdraw prematurely. Back-of-the-envelope calculations suggest that (a) the average difference in bequest-induced private pension savings between heirs and non-heirs accrues to more than 40,000 euros at retirement, and that (b) it would take an average non-heir household roughly 14 years to match this gap. The sizable difference in private pension savings between heirs and non-heirs persists when we take into account other investments of heirs and non-heirs potentially intended to provide for old age. Our evidence supports the impact of gifts and inheritances on inequality in retirement wealth highlighted in recent research on intergenerational justice. We discuss several policy implications of our results.	de
dc.language	en	de
dc.subject.ddc	Sozialwissenschaften, Soziologie	de
dc.subject.ddc	Social sciences, sociology, anthropology	en
dc.subject.other	Household finance; Retirement saving; Private pension; Intergenerational wealth transfers; Bequest; Panel on Household Finances (PHF) (wave 1 and 2)	de
dc.title	Mind the gap: inheritance and inequality in retirement wealth	de
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Intergenerational Justice Review
dc.source.volume	6	de
dc.publisher.country	DEU
dc.source.issue	2	de
dc.subject.classoz	soziale Sicherung	de
dc.subject.classoz	Social Security	en
dc.subject.thesoz	Altersvorsorge	de
dc.subject.thesoz	retirement planning	en
dc.subject.thesoz	Haushaltseinkommen	de
dc.subject.thesoz	household income	en
dc.subject.thesoz	Rente	de
dc.subject.thesoz	pension	en
dc.subject.thesoz	Erbschaft	de
dc.subject.thesoz	inheritance	en
dc.subject.thesoz	Vermögensverteilung	de
dc.subject.thesoz	distribution of wealth	en
dc.subject.thesoz	Generationenverhältnis	de
dc.subject.thesoz	Intergenerational relations	en
dc.subject.thesoz	Gerechtigkeit	de
dc.subject.thesoz	justice	en
dc.subject.thesoz	Transfer	de
dc.subject.thesoz	transfer	en
dc.subject.thesoz	Ungleichheit	de
dc.subject.thesoz	inequality	en
dc.subject.thesoz	Bundesrepublik Deutschland	de
dc.subject.thesoz	Federal Republic of Germany	en
dc.identifier.urn	urn:nbn:de:0168-ssoar-71004-4
dc.rights.licence	Creative Commons - Namensnennung 4.0	de
dc.rights.licence	Creative Commons - Attribution 4.0	en
internal.status	formal und inhaltlich fertig erschlossen	de
internal.identifier.thesoz	10035369
internal.identifier.thesoz	10041647
internal.identifier.thesoz	10035338
internal.identifier.thesoz	10042443
internal.identifier.thesoz	10061351
internal.identifier.thesoz	10045001
internal.identifier.thesoz	10045054
internal.identifier.thesoz	10044854
internal.identifier.thesoz	10041153
internal.identifier.thesoz	10037571
dc.type.stock	article	de
dc.type.document	Zeitschriftenartikel	de
dc.type.document	journal article	en
dc.source.pageinfo	63-72	de
internal.identifier.classoz	11003
internal.identifier.journal	804
internal.identifier.document	32
internal.identifier.ddc	300
dc.source.issuetopic	Intergenerational wealth transfers through inheritance and gifts	de
dc.identifier.doi	https://doi.org/10.24357/igjr.6.2.831	de
dc.description.pubstatus	Veröffentlichungsversion	de
dc.description.pubstatus	Published Version	en
internal.identifier.licence	16
internal.identifier.pubstatus	1
internal.identifier.review	1
internal.pdf.wellformed	true
internal.pdf.encrypted	false

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