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The increasing difficulties in financing the welfare state and in particularpublic retirement pensions have been one of the outcomes both of the decreaseof fertility and birth rates combined with the increase of life expectancy. Thedynamics of retirement pensions are usually studied in Economics usingoverlapping generation models. These models are based on simplifyingassumptions like the use of a representative agent to ease the problem oftractability. Alternatively, we propose to use agent-based modelling (ABM),relaxing the need for those assumptions and enabling the use of interacting andheterogeneous agents assigning special importance to the study ofinter-generational relations. We treat pension dynamics both in economics andpolitical perspectives. The model we build, following the ODD protocol, willtry to understand the dynamics of choice of public versus private retirementpensions resulting from the conflicting preferences of different agents butalso from the cooperation between them. The aggregation of these individualpreferences is done by voting. We combine a microsimulation approach followingthe evolution of synthetic populations along time, with the ABM approachstudying the interactions between the different agent types. Our objective isto depict the conditions for the survival of the public pensions systememerging from the relation between egoistic and altruistic individual andcollective behaviours.

Generational political dynamics of retirement pensions systems: An agent based model