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Economic Commentary

Can We Count on Private Pensions?

As a nation, Americans save a smaller portion of income than residents of most developed, free-market economies. For example, between 1960 and 1983, the savings rate in the United States averaged about 7.5 percent of disposable personal income. This is significantly less than the rates in West Germany (14.5 percent), in France (12.9 percent), and in Japan (18.9 percent).

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Siekmeier, James. 1986. “Can We Count on Private Pensions?” Federal Reserve Bank of Cleveland, Economic Commentary 2/15/1986.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International