The paper provides a framework for the conceptualization, definition and estimation of legacy costs that need to be addressed in a reform that transforms an unfunded defined contribution (NDB) scheme into a notional (or non-financial) defined contribution (NDC) scheme. As the new contribution...

This paper investigates the fiscal pressure from demographic change in relation to the labour marketspace for fifty countries that cover 75% of the world population. The pressure-to-space indicator ranks Poland, Turkey and Greece high. Apart from Turkey and India, developing countries rank low...

Dieses Papier stellt Modellrechnungen zur Entwicklung der Gesetzlichen Rentenversicherung (GRV) vor. Es beruht vorwiegend auf dem MEA-PENSIM Modell des Munich Center of the Economics of Aging (MEA) und ergänzend auf dem PENPRO-Modell des DIW. Das Modell projiziert aus Annahmen und Setzungen in...

We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension...

We study the effect of an increase in the UK state pension age from 65 to 66, a high level internationally, on labour market activity. Despite there being limited financial incentives to retire at the state pension age, we find large effects: the employment rate of 65-year-olds increased by 7.4...

It is a challenge for politics that an aging population leads to demands that the retirement age is increasing while not everyone is able to work to such a higher age. Sweden, like other countries, has several options for early exit from the labour market. However, the regulations have become...

In a previous study we examined the impact on employment of increasing the state pension age for women from age 60 to 61 (Cribb, Emmerson and Tetlow, 2013). This short paper incorporates more recent data, now available up to March 2014, which allows us to study the impact on employment over the...

Der Koalitionsvertrag ist kein Zukunftssicherungsvertrag für die Jungen. Geschlossen wurde er, weil er sich an Wählerstimmen orientiert. Das verlangen wir allerdings von den Parteien in einer Demokratie. Der Mindestlohn, die Mindestrente, die Mütterrente, die Rente mit 63 und der...

While there is a vast literature considering the labour market effects of immigration, less has been done to investigate how immigration affects the educational choices of young natives. Using Italian provincial data and an instrumental variables strategy, we show that the recent increase in the...

The paper studies retirement behavior of wage-earners in Belgium - for the first time using rich survey data to explore retirement incentives as faced by individuals. Specifically, we use SHARE data to estimate a model à la Stock and Wise (1990). Exploring the longitudinal nature of SHARELIFE,...