Journal Article

An Evaluation of the Impact of the Pension System on Income Inequality: USA, UK, Netherlands, Italy and Türkiye

Kaplan, Muhittin, Verberi, Can

2024

Overview

This study examines empirically the impact of various characteristics of pension systems, in particular their quality and integrity, on income inequality, utilizing micro-level data from the United States, United Kingdom, Netherlands, Türkiye and Italy. To this end, the income inequality model, which includes public pension (or public/private pension mix), age, education, gender, marital status and employment as independent variables, has been estimated using quantile regression. The results provide a number of valuable information on the impact of the pension system on income inequality: (i) Public pension income significantly reduces overall income inequality across almost all inequality groups in all countries, except for the UK and the Netherlands; (ii) Different types of pension systems vary significantly in their redistributive effects on income; (iii) The empirical results also show that the effect of different pension systems on inequality changes by inequality groups significantly.

• Publisher: Springer Netherlands,Springer Nature B.V
• Subject: Alterssicherung / Auswirkung / Data quality / Earnings / Educational Change / Einkommensunterschied / Einkommensverteilung / Employment / Familienstand / Geschlechtsspezifik / Großbritannien / Human Geography / Income / Income distribution / Income inequality / Income redistribution / Internationaler Vergleich / Italien / Marital status / Microeconomics / Morality / Niederlande / Older Adults / Older people / Original Research / Pension plans / Poverty / Private Rentenversicherung / Public Health / Qualifikation / Quality of Life Research / Rentenversicherung / Rentner / Retirement / Retirement Benefits / Social Indicators / Social Sciences / Socioeconomics / Sociology / Soziale Ungleichheit / Sozialer Abstieg / Systems / Türkei / USA / Variables