Individual private retirement insurances: Holding behaviours among pensioners

Najat El Mekkaoui de Freitas, Berangere Legendre Lunven, Gordon Clark

Research output: Contribution to journalArticleResearchpeer-review


In the current context of demographic pressures, reforms of PAYG pension systems increase the extent to which individuals are responsible for their own retirement planning. The French pension system offered high replacement rates. The population used to consider that the State scheme had to provide thsm with an adequat level of pension. In 2003. the pension reform implemented individual and professional pension plans. These retirement savings contracts are not well developed. However, we observed that individuals prefer contracting life endowment contracts, which are long term savings supports, to prepare retirement. Using econometric specifications, we intend to put into perspective the households and individual characteristics which explain the holding behaviours of life endowment contracts and retirement savings plans. We conclude that the highest professional categories and the most educated individuals hold more frequently and simultaneously both types of contracts.

Original languageEnglish
Pages (from-to)812-827
Number of pages16
JournalEconomics Bulletin
Issue number1
Publication statusPublished - 2013
Externally publishedYes

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