Augmented wealth in Switzerland: the influence of pension wealth on wealth inequality

Détails

Ressource 1Télécharger: Kuhn2020_Article_AugmentedWealthInSwitzerlandTh.pdf (1203.20 [Ko])
Etat: Public
Version: Final published version
Licence: CC BY 4.0
ID Serval
serval:BIB_B562878B7716
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Augmented wealth in Switzerland: the influence of pension wealth on wealth inequality
Périodique
Swiss Journal of Economics and Statistics
Auteur⸱e⸱s
Kuhn Ursina
ISSN
2235-6282
Statut éditorial
Publié
Date de publication
12/2020
Volume
156
Numéro
1
Langue
anglais
Résumé
Entitlements for social security and occupational pensions present a major wealth component and play a central role for financial security. However, most individual-level data lacks information on pension wealth. By linking various data sources, this contribution estimates the present value of future pension entitlements in Switzerland for statutory pensions, occupational pensions and third pillar accounts and analyses the distribution of augmented wealth, which combines pension wealth and net worth. The CH-SILC survey from 2015 is used to estimate real assets, financial assets and pension wealth of retired individuals. The pension entitlements of non-retired individuals are simulated on the basis of their earning history from administrative records following the accrual method and assuming a real discount rate of 2%. When pension wealth is added to net worth, average wealth doubles, and the Gini-coefficient declines by 26%. The equalising effect is particularly strong for social security pensions. The wealth distribution differs strongly between the three pillars of the pension system; there are also strong differences between gender and age groups. In Switzerland, wealth accumulation continues after retirement age.
Mots-clé
net worth, augmented wealth, pension wealth, wealth inequality, life curse, SILC ,Data linkage
Open Access
Oui
Financement(s)
Fonds national suisse / 10001AL_166319
Création de la notice
09/11/2020 9:46
Dernière modification de la notice
27/11/2020 8:10
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