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Publications (10 of 19) Show all publications
Hagen, J. (2019). Country case: Sweden. In: J. Šebo & Ş. D. Voicu (Ed.), Pension Savings: The Real Return, 2019 Edition: A research report by Better Finance (pp. 453-478). Brussels: Better Finance
Open this publication in new window or tab >>Country case: Sweden
2019 (English)In: Pension Savings: The Real Return, 2019 Edition: A research report by Better Finance / [ed] J. Šebo & Ş. D. Voicu, Brussels: Better Finance , 2019, p. 453-478Chapter in book (Other academic)
Abstract [en]

The Swedish pension system contains a great variety of different retirement savings products with over SEK 5.8 trillion (€565 billion) in managed capital. There are funded components in each of the three pillars. In the public pension system, 2.5% of earnings are allocated to the premium pension, whereas the default fund, AP7 Såfa, has had an average real rate of return of 5.8% compared to the 2.9% of all other funds over the last 17 years. The second pillar is dominated by four large agreement-based pension plans, covering more than 90% of the workforce. These have largely transitioned from a pay-as-you-go (PAYG) system to a funded system.

Abstract [sv]

Det svenska pensionssytemet består till stor del av avgiftsbestämda/fonderade pensioner. Totalt förvaltas över 5800 miljarder SEK (€565 miljarder) i pensionskapital. I det allmänna pensionssystemet sätts 2,5% av lönen av till den så kallade premiepensionen. I premiepensionen har förvalsalternativet, AP7 Såfa, haft en genomsnittlig realavkastniing på 8,0% sedan 2002, jämfört med 5,4% för alla andra valbara fonder. Tjänstepensionssystemet domineras av fyra stora avtal som täcker över 90% av alla arbetstagare. Tjänstepensionerna har till största del gått från att vara PAYG till fonderade pensionssystem.

Place, publisher, year, edition, pages
Brussels: Better Finance, 2019
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-46662 (URN)
Available from: 2019-10-23 Created: 2019-10-23 Last updated: 2019-10-23Bibliographically approved
Engström, P., Forsell, E., Hagen, J. & Stefánsson, A. (2019). Increasing the Take-Up of the Housing Allowance Among Swedish Pensioners: A Field Experiment. International Tax and Public Finance
Open this publication in new window or tab >>Increasing the Take-Up of the Housing Allowance Among Swedish Pensioners: A Field Experiment
2019 (English)In: International Tax and Public Finance, ISSN 0927-5940, E-ISSN 1573-6970, , p. 38Article in journal (Refereed) Epub ahead of print
Abstract [en]

Using a randomized field experiment in the Swedish pension system, we investigate whether receiving an information letter affects the take-up rate of the housing allowance for pensioners. We also investigate whether the framing of the information letter affects take-up. The results show that simple information letters had a significant effect on the application rate and subsequent take-up rate: The baseline application rate in the targeted control population was only 1.4%, while the corresponding rates in the different treatment groups were between 9.9 and 12.1%. However, while the applications in the control group were accepted in almost 3 out of 4 cases, up to 50% of the applications in the treatment group were declined. The lower conditional acceptance rate in the treatment group seems to be largely driven by wealth, which the Pensions Agency cannot observe prior to submission. Information campaigns aimed at increasing benefit take-up therefore need careful design in situations with imperfect targeting.

Place, publisher, year, edition, pages
Springer, 2019. p. 38
Keywords
Benefit Take-Up, RCT, Nudge
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-43530 (URN)10.1007/s10797-019-09538-9 (DOI)2-s2.0-85064846529 (Scopus ID)HOA JIBS 20XX (Local ID)HOA JIBS 20XX (Archive number)HOA JIBS 20XX (OAI)
Available from: 2019-04-24 Created: 2019-04-24 Last updated: 2019-05-14
Hagen, J., Hallberg, D. & Sjögren Lindquist, G. (2018). A nudge to quit? The effect of a change in pension information on annuitization, labor supply and retirement choices among older workers. Maastricht: Global Labor Organization
Open this publication in new window or tab >>A nudge to quit? The effect of a change in pension information on annuitization, labor supply and retirement choices among older workers
2018 (English)Report (Other academic)
Abstract [en]

Nudge is about affecting behavior in a certain way through small changes to the choice architecture. However, a nudge may also affect behaviors that the architect did not intend. We show that such spillover effects exist in a highly policy relevant context where the use of nudge is widespread; retirement. Specifically, we find that an exogenous application form change in the Swedish pension system that highlighted a five-year payout on the expense of a life annuity not only increased the demand for the nudged payout (as expected), but also induced individuals to retire earlier. We attribute the effects to decision-framing.

Place, publisher, year, edition, pages
Maastricht: Global Labor Organization, 2018. p. 37
Series
GLO Discussion Paper ; 209
Keywords
annuity, pension, nudge, decision framing
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-41248 (URN)
Available from: 2018-08-27 Created: 2018-08-27 Last updated: 2018-08-27Bibliographically approved
Engström, P., Forsell, E., Hagen, J. & Stefansson, A. (2018). Bostadstillägg för pensionärer: ett randomiserat informationsexperiment. Ekonomisk Debatt, 46(5), 29-37
Open this publication in new window or tab >>Bostadstillägg för pensionärer: ett randomiserat informationsexperiment
2018 (Swedish)In: Ekonomisk Debatt, ISSN 0345-2646, Vol. 46, no 5, p. 29-37Article in journal (Other (popular science, discussion, etc.)) Published
Abstract [sv]

Många äldre med låga inkomster ansöker inte om bostadstillägg för pensionärer trots att de kan ha rätt till det. En viktig fråga är därför hur man kan få fler berättigade att ansöka. Vi har tillsammans med Pensionsmyndigheten genomfört ett randomiserat informationsexperiment riktat till populationen av potentiellt berättigade pensionärer. Ungefär var tionde pensionär som fick ett brev (behandlingsgruppen) ansökte om bostadstillägg inom fyra månader jämfört med drygt en av hundra som inte fick ett brev (kontrollgruppen). Andelen avslag i behandlingsgruppen var dock något högre.

National Category
Economics
Identifiers
urn:nbn:se:hj:diva-41445 (URN)
Available from: 2018-09-17 Created: 2018-09-17 Last updated: 2019-01-18Bibliographically approved
Hagen, J. (2018). Country case: Sweden. In: J. Šebo & Ş. D. Voicu (Ed.), Pension Savings: The Real Return, 2018 Edition: A research report by Better Finance (pp. 438-460). Brussels: Better Finance
Open this publication in new window or tab >>Country case: Sweden
2018 (English)In: Pension Savings: The Real Return, 2018 Edition: A research report by Better Finance / [ed] J. Šebo & Ş. D. Voicu, Brussels: Better Finance , 2018, p. 438-460Chapter in book (Other academic)
Abstract [en]

The Swedish private pensions market is quite diversified, consisting of a great variety of different retirement savings products with over SEK 5.3 trillion (€559 billion) in managed capital. In terms of pensions, Swedish households hold €405 billion of assets in pension funds and €112 billion in life insurance reserves. Rather than relying on the PAYG system, the Swedish system tends to rely on private savings products. When it comes to returns, however, the AP7 Safa fund has been the best-performing over the last 16 years, with an average real return rate of 8.56%.

Abstract [sv]

Den privata svenska pensionsmarknaden är mycket diversifierad och består över 800 olika pensionssparande produkter med över 5,3 biljoner SEK (€559 miljarder) i förvaltat kapital. Svenska hushåll har €405 miljarder i pensionsfonder och €112 miljarder i livförsäkringsreserver. I stället för att vara baserat på ett PAYG-system er det svenska systemet baserat på privata besparingsprodukter. När det gäller avkastning är det AP7 Safafonden som har varit bäst i testet over dom senaste 16 åren, med en realavkastning på 8.56%.

Place, publisher, year, edition, pages
Brussels: Better Finance, 2018
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-46663 (URN)
Available from: 2019-10-23 Created: 2019-10-23 Last updated: 2019-10-23Bibliographically approved
Hagen, J. & Elinder, M. (2018). Den komplexa tjänstepensionen. Stockholm: SNS förlag
Open this publication in new window or tab >>Den komplexa tjänstepensionen
2018 (Swedish)Book (Other (popular science, discussion, etc.))
Place, publisher, year, edition, pages
Stockholm: SNS förlag, 2018. p. 111
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-42211 (URN)978-91-88637-09-3 (ISBN)
Available from: 2018-12-05 Created: 2018-12-05 Last updated: 2018-12-05Bibliographically approved
Hagen, J. & Malmberg, H. (2018). Hur kan tidiga hälsorelaterade utträden ur arbetslivet minskas?. Stockholm: SNS förlag
Open this publication in new window or tab >>Hur kan tidiga hälsorelaterade utträden ur arbetslivet minskas?
2018 (Swedish)Book (Other academic)
Place, publisher, year, edition, pages
Stockholm: SNS förlag, 2018. p. 62
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-39423 (URN)978-91-88637-02-4 (ISBN)
Funder
Forte, Swedish Research Council for Health, Working Life and Welfare, 2013-2482
Available from: 2018-05-15 Created: 2018-05-15 Last updated: 2019-08-06Bibliographically approved
Engstrom, P., Forsell, E., Hagen, J. & Stefánsson, A. (2018). Increasing the Take-Up of the Housing Allowance Among Swedish Pensioners: A Field Experiment. Berlin: NORFACE Welfare State Futures
Open this publication in new window or tab >>Increasing the Take-Up of the Housing Allowance Among Swedish Pensioners: A Field Experiment
2018 (English)Report (Other academic)
Abstract [en]

Using a randomized field experiment in the Swedish pension system, we investigate whether receiving an information letter affects the take-up rate of the housing allowance for pensioners. We also investigate whether the framing of the information letter affects take-up. The results show that simple information letters had a dramatic effect on the application rate and subsequent take-up rate: the baseline application rate in the targeted control population was only 1.4 percent while the corresponding rates in the different treatment groups were between 9.9 and 12.1 percent. The letter that addressed common misconceptions about the benefit caused significantly higher submission and acceptance rates. The letters had a substantial economic effect on the applicants. We estimate that the applicants, induced by the treatment, increased their monthly income by around 10 percent.

Place, publisher, year, edition, pages
Berlin: NORFACE Welfare State Futures, 2018. p. 38
Series
WSF Working Paper Series
Keywords
Benefit Take-Up, RCT, Nudge
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-41245 (URN)
Available from: 2018-08-27 Created: 2018-08-27 Last updated: 2018-08-27Bibliographically approved
Hagen, J. (2018). The effects of increasing the normal retirement age on health care utilization and mortality. Journal of Population Economics, 31(1), 193-234
Open this publication in new window or tab >>The effects of increasing the normal retirement age on health care utilization and mortality
2018 (English)In: Journal of Population Economics, ISSN 0933-1433, E-ISSN 1432-1475, Vol. 31, no 1, p. 193-234Article in journal (Refereed) Published
Abstract [en]

This essay estimates the health effects of increasing the normal retirement age using Swedish administrative data on drug prescriptions, hospitalizations, and mortality. To this end, I use a reform that raised the age at which broad categories of Swedish local government workers were entitled to retire with full pension benefits from 63 to 65. Estimating the effect of the reform on individuals’ health within the age range 65–69, the results show no evidence that the reform impacted mortality or health care utilization. Increasing the normal retirement age may thus have positive government income effects without seriously affecting short to medium run government health care expenditures.

Place, publisher, year, edition, pages
Springer, 2018
Keywords
Health; Mortality; Inpatient care; Retirement; Pensions
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-37126 (URN)10.1007/s00148-017-0664-x (DOI)000414502500007 ()2-s2.0-85028320288 (Scopus ID)
Available from: 2017-09-01 Created: 2017-09-01 Last updated: 2018-01-03Bibliographically approved
Hagen, J. (2017). Country case: Sweden. In: M. Klages & Á. R. Toscano (Ed.), Pension Savings: The Real Return, 2017 Edition: A research report by Better Finance (pp. 442-468). Brussels: Better Finance
Open this publication in new window or tab >>Country case: Sweden
2017 (English)In: Pension Savings: The Real Return, 2017 Edition: A research report by Better Finance / [ed] M. Klages & Á. R. Toscano, Brussels: Better Finance , 2017, p. 442-468Chapter in book (Other academic)
Place, publisher, year, edition, pages
Brussels: Better Finance, 2017
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-45445 (URN)
Available from: 2019-08-06 Created: 2019-08-06 Last updated: 2019-08-06Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0003-3093-726x

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