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IEB09-22_Harju.pdf (460.51 KB)

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Working paper

Publication date

2009

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cc-by-nc-nd, (c) Harju, 2009
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/116979

Voluntary pension savings: the effects of the finnish tax reform on savers’ behaviour

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Abstract

Many countries tax voluntary pension savings using the so-called EET model, based on tax-deductible savings and taxable withdrawals. In Finland the tax reform of 2005 changed the tax rate schedule from progressive to proportional, while the basic structure of the EET model was retained. This paper studies empirically the savers’ behavioural changes as a result of the reform using individual level data. The econometric estimations indicate that the reform altered pension saving behaviour by reducing the labour income and age effects on saving contributions in a statistically significant way. Also, the reform reduced the number of pension savers among high income-earners.

Subject

Pensions, Impostos, Reforma fiscal

Subject (English)

Pensions, Taxation, Tax reform

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IEB (Institut d’Economia de Barcelona) – Working Papers

Citation

HARJU, Jarkko. Voluntary pension savings: the effects of the finnish tax reform on savers’ behaviour. IEB Working Paper 2009/22. [consulted: 14 of August of 2026]. Available at: https://hdl.handle.net/2445/116979

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