This paper studies the design of retirement and disability policies. It illustrates the often observed exit from the … social welfare. Benefits depend on retirement age and on the (reported) health status. We determine first- and second …-best optimal benefit levels and retirement ages and focus on the distortions which may be induced in the individuals’ retirement …

The present Paper studies the retirement incentives for elderly people in Belgium. We model the incentive structure … built into the various public early retirement and retirement systems. First, we compute indicators of benefit entitlement … as of the implicit tax rates the elderly workers face in case of delayed retirement. We find strong evidence of social …

spouse is not employed. Observed covariates, including wages and retirement benefits, help to explain these patterns, but …

Private pension provision faces the challenging task of providing stable income streams during retirement. The … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …

life of an individual has two 'endings': an official retirement age at which he starts drawing pension benefits (while … possibly supplementing them with some labour income) and an effective age of retirement at which professional activity is … completely given up. Weekly work time is endogenous, but constant in the period before official retirement and again constant …

Social insurance for the elderly is judged responsible for the widely observed trend towards early retirement. In a … distortion on the retirement decision. The main point we make is that while there is no doubt that retirement systems induce an …

pension scheme: The 20 percent reduction in the rate at which retirement capital is translated into a life-long annuity …

When entering retirement most people face the decision whether they would like their defined contribution account …