本研究探討勞工退休金新制的實施對家戶儲蓄的影響。由於台灣人口快速老化，提升老人經濟安全是當前最為重要的議題。勞委會在2005年實施「勞工退休金新制」，相對於過去的舊制，其特點為年資的可接續性。此項改革將會使勞工預期未來財富增加。過去的文獻中曾以全民健康保險政策的實施作為探討，發現將會顯著降低民眾儲蓄。本研究認為勞退的改革更甚於全民健康保險的影響。 我們利用Difference-in- Difference模型估計華人家庭動態資料庫12年的樣本。估計結果顯示：勞工退休金新制的實施將顯著減少家戶的儲蓄，並且隨著教育程度的降低而減少幅度更大。這個結果可以儲蓄的所得彈性來做推論，亦即退休金的財富效果對社經地位較高者而言影響程度相對較小，反之則較大。本研究補充了目前國內對於勞工退休新制相關研究的缺乏，且對於台灣老年經濟安全保障政策的評估提供一份參考。 This paper investigates the effects that the implementation of the new system of labor pension on household savings in Taiwan. Due to Taiwan''s aging society, it is the most important issue to improve the economic security of the olds. The "New Labor Pension Mechanism" was implemented in 2005 by Council of Labor Affairs. Relative to the previous system, the new system is characterized by the continuation of working seniority and may increase workers’ expectations of their future wealth. Previous literature has explored the implementation of National Health Insurance Policy on savings, and they found NHI has significant negative effects on savings. This study further suggests that the effects of labor pension reform could greater than the NHI’s effect. We use Difference-in-Difference model to estimate a 12-year sample of "Panel Study of Family Dynamics" in Taiwan. Estimation results show that New Labor Pension Mechanism’s implementation significantly reduces household savings and the effects are higher for lower education level workers.
Explaining by Income elasticity of savings, pension’s wealth effect on those with higher socioeconomic status is relatively small, otherwise, larger. This study supplements the limitation of researches for New Labor Pension Mechanism and could be a reference for Taiwan''s old age security policy.