Optionen der Altersvorsorge im 19. und 20. Jahrhundert in Deutschland

The essay discusses supply and demand in the for old age security in Germany during the 19th and 20th century. As economic growth and the expansion of social security created an extended retirement phase at the end of the life the supply of old age security shifted from the family to the public pens...

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Bibliographic Details
Published in:Zeitschrift für Unternehmensgeschichte 2003-01, Vol.48 (1), p.5-28
Main Author: Hardach, Gerd
Format: Article
Language:ger
Online Access:Get full text
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Summary:The essay discusses supply and demand in the for old age security in Germany during the 19th and 20th century. As economic growth and the expansion of social security created an extended retirement phase at the end of the life the supply of old age security shifted from the family to the public pension system, supplemented by occupational pension pro-grammes and individual investment in the ban-king system, the capital market, life insurance pension plans or real estate. At the same time, increasing longevity and declining fertility led to a «graying of the population» and a corre-sponding surge in the demand for old age securmarket ity. The interaction between supply and demand in the market for old age security is illustrated by three scenarios, the traditional family system, the three pillar system of public pensions, occucourse, pational pensions and individual savings, and an emerging multipillar system in which family solidarity and family caregiving for the growing number of «frail elderly» reappear as an essential fourth pillar.
ISSN:0342-2852