Pensions, Fertility and Families

6 Pages Posted: 3 Dec 2007


Public pay-as-you-go pension systems induce low fertility rates, which in turn contribute to the insolvency of those very systems. They have replaced the old-age security motive for having children, which is a major factor behind fertility in their absence. They also penalize fertility by externalizing the contributions of children while leaving the costs of child-bearing unaffected. Fertility rates could be raised by moving towards personal savings schemes or re-linking pension benefits to fertility.

Suggested Citation

Juurikkala, Oskari, Pensions, Fertility and Families. Economic Affairs, Vol. 27, Issue 4, pp. 52-57, December 2007. Available at SSRN: or

Oskari Juurikkala (Contact Author)

University of Helsinki ( email )


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