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In this paper, we study the relationship between income and old age survival via the indirect pathway of private transfers. Our analysis focuses on intergenerational transfers in the family as an important, but so far less investigated, link between income and improved old age survival. We use an agent based model to simulate an exchange relationship between two generations in a family and incorporate realistic demographic, economic and time use data for Germany. We nd that older parents transfer increasing shares of their pensions to their ospring and receive informal care or emotional support in return. This exchange motive is mutually benecial as younger generations are in greater need for nancial subsidies and older ones for contact and care. Our inductive approach adds to our understanding how income is spread in the family and how older family members can benet from an exchange of money for care.

Intergenerational transfers within the family and the role for old age survival