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| Author: | Sefton, J. Ven, J. van de Weale, M. |
| Title: | Means testing retirement benefits: fostering equity or discouraging savings? |
| Journal: | Economic Journal
2008 : APR, VOL. 118:528, p. 556-590 |
| Index terms: | equities pension schemes pensions retirement savings United Kingdom |
| Language: | eng |
| Abstract: | This study uses a dynamic programming model in considering the effects of a recent policy reform that reduced the marginal tax rates on private income of means tested retirement benefits from 100% to 40%. The analysis suggests that the policy reform will encourage the poorest third of all households to both save more and to delay retirement, and have the opposite effects on richer households. |
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