The young and the elderly at risk: Individual outcomes and contemporary policy challenges in European societies pages:107-128
In light of population ageing, debates concerning income protection for the elderly population are high on the agenda of researchers and policy makers. These debates concern, among others, the increasing focus on the contribution from private income sources (housing and financial assets) to old age income protection. The question is the extent to which these sources can contribute to the old age income package and provide additional protection against old age poverty. Based on data from the second wave of the Survey of Health, Ageing and Retirement in Europe for Belgium, the Netherlands, France and Germany, we investigate the contribution from property and financial assets to old age income and its influence on old age poverty. In doing so, financial assets are transposed to fictitious annuities and a reverse mortgage simulation is created to calculate the contribution from property assets. Specific attention is paid to the consequences for the income and poverty ranking at the aggregate level, as well as to the consequences for the individual-level poverty risk of vulnerable elderly groups (single women and the oldest elderly).