What is an Adequate Old-Age Income?

Single Wave Study

General Information

Title

What is an Adequate Old-Age Income?

Project Number

12

Abstract

Choice and other types of questions in relation to monthly spending during working life and retirement.

Longitudinal Type

Single Wave Study

Topics

Economic conditions and indicators (LISS)

Employment, labor and retirement (LISS)

Researcher

Binswanger, Johannes, Schunk, Daniel

Publisher

CentERdata

Copyright

© 2009 CentERdata

Funding Organization

CentERdata/MESS Project

DOI

https://doi.org/10.17026/dans-28t-abgp

Datasets and documentation

View Documentation

English version

codebook_aa08a_EN_1.1.pdf

Dutch (original) version

codeboek_aa08a_NL_1.1.pdf

Data Files

English SPSS version

aa08a_1p_EN.sav

English STATA version

aa08a_1p_EN.dta

Variables

Variable name	Variable Label	Variable Type
nomem_encr	number individual household encripted	preloaded
aa08a_m	year and month fieldwork	constructed
aa08a001	randomisation question order	constructed
aa08a002	randomisation question aa08a071 to aa08a086	constructed
aa08a003	randomisation question aa08a088 to aa08a092	constructed
aa08a004	randomisation agree of accordance (or similar) answer categories	constructed
aa08a005	randomisation global warming question	constructed
aa08a006	position in the household	preloaded
aa08a007	breadwinner	preloaded
aa08a008	year of birth	preloaded
aa08a009	primary occupation	preloaded
aa08a010	number of household members	preloaded
aa08a011	number of children in the household	preloaded
aa08a012	composition of the household	preloaded
aa08a013	partner	preloaded
aa08a014	household nett income per month	preloaded
aa08a015	inc: Total household monthly income after taxes. If retired, then total household monthly income after taxes divided by .85.	preloaded
aa08a016	prof1_0w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 140 percent and real interest rate is equal to 1 percent.	preloaded
aa08a017	prof1_0r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 140 percent and real interest rate is equal to 1 percent.	preloaded
aa08a018	prof1_1w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 100 percent and real interest rate is equal to 1 percent.	preloaded
aa08a019	prof1_1r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 100 percent and real interest rate is equal to 1 percent.	preloaded
aa08a020	prof1_2w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 88 percent and real interest rate is equal to 1 percent.	preloaded
aa08a021	prof1_2r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 88 percent and real interest rate is equal to 1 percent.	preloaded
aa08a022	prof1_3w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 76 percent and real interest rate is equal to 1 percent.	preloaded
aa08a023	prof1_3r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 76 percent and real interest rate is equal to 1 percent.	preloaded
aa08a024	prof1_4w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 64 percent and real interest rate is equal to 1 percent.	preloaded
aa08a025	prof1_4r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 64 percent and real interest rate is equal to 1 percent.	preloaded
aa08a026	prof1_5w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 50 percent and real interest rate is equal to 1 percent.	preloaded
aa08a027	prof1_5r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 50 percent and real interest rate is equal to 1 percent.	preloaded
aa08a028	Prof2_0w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 140 percent and real interest rate is equal to 6 percent.	preloaded
aa08a029	Prof2_0r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 140 percent and real interest rate is equal to 6 percent.	preloaded
aa08a030	Prof2_1w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 100 percent and real interest rate is equal to 6 percent.	preloaded
aa08a031	Prof2_1r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 100 percent and real interest rate is equal to 6 percent.	preloaded
aa08a032	Prof2_2w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 88 percent and real interest rate is equal to 6 percent.	preloaded
aa08a033	Prof2_2r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 88 percent and real interest rate is equal to 6 percent.	preloaded
aa08a034	Prof2_3w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 76 percent and real interest rate is equal to 6 percent.	preloaded
aa08a035	Prof2_3r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 76 percent and real interest rate is equal to 6 percent.	preloaded
aa08a036	Prof2_4w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 64 percent and real interest rate is equal to 6 percent.	preloaded
aa08a037	Prof2_4r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 64 percent and real interest rate is equal to 6 percent.	preloaded
aa08a038	Prof2_5w: Hypothetical working-life spending if ratio of old age to working-life spending is equal to 50 percent and real interest rate is equal to 6 percent.	preloaded
aa08a039	Prof2_5r: Hypothetical old age spending if ratio of old age to working-life spending is equal to 50 percent and real interest rate is equal to 6 percent.	preloaded
aa08a040	Bracket: 30 percent of inc, rounded.	preloaded
aa08a041	rate1_h: 95 percent of inc, rounded	preloaded
aa08a042	rate1_l: 80 percent of inc, rounded	preloaded
aa08a043	rate2_h: 105 percent of inc, rounded	preloaded
aa08a044	rate2_l: 75 percent of inc, rounded	preloaded
aa08a045	rate3_h: 115 percent of inc, rounded	preloaded
aa08a046	rate3_l: 70 percent of inc, rounded	preloaded
aa08a047	rate4_h: 125 percent of inc, rounded	preloaded
aa08a048	rate4_l: 65 percent of inc, rounded	preloaded
aa08a049	rate5_h: 150 percent of inc, rounded	preloaded
aa08a050	rate5_l: 50 percent of inc, rounded	preloaded
aa08a051	rra_s: 85 percent of inc, rounded	preloaded
aa08a052	rra_rl: 70 percent of inc, rounded	preloaded
aa08a053	rra_rh: 100 percent of inc, rounded	preloaded
aa08a054	spendw_w: 100 percent of inc, rounded	preloaded
aa08a055	spendw_j: 60 percent of inc, rounded, plus 100 Euros	preloaded
aa08a056	spendr: 60 percent of inc, rounded	preloaded
aa08a057	climref_: 0.5 percent of inc, rounded	preloaded
aa08a058	climrefa: 2.5 percent of inc, rounded	preloaded
aa08a059	How much have you thought about retirement?	directly measured
aa08a060	When retired, I would be ready to move to another apartment or house in order to reduce spending on housing	directly measured
aa08a061	How do you expect housing costs to be for you when you will be retired?	directly measured
aa08a062	expectation housing cost lower/higher	directly measured
aa08a063	minimal level of monthly spending	directly measured
aa08a064	lower, equal, or higher than current spending	directly measured
aa08a065	how much lower	directly measured
aa08a066	I tried to project our needs for housing, food, insurance etc. and add them up	directly measured
aa08a067	I thought we would need a fraction of our current monthly expenditures	directly measured
aa08a068	I thought we would need a fraction of our current monthly income	directly measured
aa08a069	I was recalling advice I got from an expert of financial planning website	directly measured
aa08a070	I reffered to numbers that appeared in the previous conditions and that looked sensible to me	directly measured
aa08a071	first choice interest 1%	directly measured
aa08a072	second choice interest 1%	directly measured
aa08a073	first choice interest 1%	directly measured
aa08a074	second choice interest 1%	directly measured
aa08a075	choice between first option and new option interest 1%	directly measured
aa08a076	choice between first option and new option interest 1%	directly measured
aa08a077	choice between first option and new option interest 1%	directly measured
aa08a078	choice between first option and new option interest 1%	directly measured
aa08a079	first choice second question interest 6%	directly measured
aa08a080	second choice second question interest 6%	directly measured
aa08a081	first choice second question interest 6%	directly measured
aa08a082	second choice second question interest 6%	directly measured
aa08a083	choice between first option and new option second question interest 6%	directly measured
aa08a084	choice between first option and new option second question interest 6%	directly measured
aa08a085	choice between first option and new option second question interest 6%	directly measured
aa08a086	choice between first option and new option second question interest 6%	directly measured
aa08a087	Even if I spent a long time thinking about those questions, I would not know what I should answer	directly measured
aa08a088	satisfaction pension 90% ^rate1_h euro per maand, 10% rate1_l	directly measured
aa08a089	satisfaction pension 90% ^rate2_h euro per maand, 10% rate2_l	directly measured
aa08a090	satisfaction pension 90% ^rate3_h euro per maand, 10% rate3_l	directly measured
aa08a091	satisfaction pension 90% ^rate4_h euro per maand, 10% rate4_l	directly measured
aa08a092	satisfaction pension 90% ^rate5_h euro per maand, 10% rate5_l	directly measured
aa08a093	Even if I spent a long time thinking about those questions, I would not know what I should answer	directly measured
aa08a094	^rra_s euro or 50% chance ^rra_rl euro	directly measured
aa08a095	^rra_s euro or 40% chance ^rra_rl euro	directly measured
aa08a096	^rra_s euro or 30% chance ^rra_rl euro	directly measured
aa08a097	^rra_s euro or 20% chance ^rra_rl euro	directly measured
aa08a098	^rra_s euro or 10% chance ^rra_rl euro	directly measured
aa08a099	50% chance ^rra_rl euro or ^rra_s	directly measured
aa08a100	40% chance ^rra_rl euro or ^rra_s	directly measured
aa08a101	30% chance ^rra_rl euro or ^rra_s	directly measured
aa08a102	20% chance ^rra_rl euro or ^rra_s	directly measured
aa08a103	10% chance ^rra_rl euro or ^rra_s	directly measured
aa08a104	Even if I spent a long time thinking about those questions, I would not know what I should answer	directly measured
aa08a105	It is obvious that Jan will be much more satisfied with his financial situation during retirement than Wim	directly measured
aa08a106	Many questions did not make sense to me	directly measured
aa08a107	Many questions were too abstract for me	directly measured
aa08a108	I generally do not like to think about old-age provision	directly measured
aa08a109	I find it very difficult to imagine how much money I would want to have during retirement	directly measured
aa08a110	I like to take some responsibility for my old-age provision.	directly measured
aa08a111	monthly contribution global warming without reference point, no problems, no joint efforts	directly measured
aa08a112	monthly contribution global warming without reference point, no problems, joint efforts	directly measured
aa08a113	monthly contribution global warming without reference point, problems, no joint efforts	directly measured
aa08a114	monthly contribution global warming without reference point, problems, joint efforts	directly measured
aa08a115	monthly contribution global warming low reference point, no problems, no joint efforts	directly measured
aa08a116	monthly contribution global warming low reference point, no problems, joint efforts	directly measured
aa08a117	monthly contribution global warming low reference point, problems, no joint efforts	directly measured
aa08a118	monthly contribution global warming low reference point, problems, joint efforts	directly measured
aa08a119	monthly contribution global warming high reference point, no problems, no joint efforts	directly measured
aa08a120	monthly contribution global warming high reference point, no problems, joint efforts	directly measured
aa08a121	monthly contribution global warming high reference point, problems, no joint efforts	directly measured
aa08a122	monthly contribution global warming high reference point, problems, joint efforts	directly measured
aa08a123	difficult questions	directly measured
aa08a124	clear questions	directly measured
aa08a125	think about questionnaire	directly measured
aa08a126	interesting topic	directly measured
aa08a127	pleasant questionnaire	directly measured
aa08a128	begin date questionnaire	constructed
aa08a129	begin time questionnaire	constructed
aa08a130	end date questionnaire	constructed
aa08a131	end time questionnaire	constructed

Questions

Questionnaire: Old-age income

This questionnaire was originally conducted in Dutch.

Browse Old-age income

Response Information

Response Overview

In March 2007 Binswanger and Schunk fielded a more or less identical version of the questionnaire in the CentERpanel. They repeated the questionnaire in the LISS panel to find out if fresh respondents give the same answers as trained respondents (from the CentERpanel).
The questionnaire was presented to 2755 respondents and 2005 respondents filled out the questionnaire (response percentage 72.8%).

Response: Selected number of household members: 2755
Nonresponse: 750 (27.2%)
Actual response: 2005 (72.8%)

Collection Events

Period

07-01-2008 to 29-01-2008

Sample

Respondents with reported net monthly income higher than 800 euro’s, age greater or equal to 25, position<4, and woonworm=2 or woonvorm=3

Collection Mode

internet survey

Fieldwork Note

a reminder was sent twice to non-respondents

Publications

Between Goals and Expectations - Essays on Pensions and Retirement ; Bresser, J.R. de

Pensioen, consumptiebehoeften en ouderenzorg Netspar Design Paper 31; Knoef, M., et al.

Panel Conditioning in Difficult Attitudinal Questions Public Opinion Quarterly, 77(3), pp. 783-797; Binswanger, J. et al.

Can survey participation alter household saving behavior? The Economic Journal, 127(606), 2332-2357.; Crossley, T.F., et al.

Cutting One's Coat According to One's Cloth: How did the Great Recession affect retirement resources and expenditure goals? Netspar Academic Series no. 05/2018-029; Bresser J. de, et al.

Dromen over een goed pensioen: origami en datascience TPEdigitaal 2018 jaargang 12(2) pagina 82-94 ; Knoef, M.G.

Can the Dutch meet their own retirement expenditure goals? Labour Economics (2015), Volume 34, p. 100–117; Bresser, J. de, et al.

Cutting one’s coat according to one’s cloth – How did the great recession affect retirement resources and expenditure goals? Journal of Economic Behavior & Organization, 188, 126-166; de Bresser, J., et al.