long run. According to our simulations, the budget of the BPS will be highly sensitive to the ages of retirement and to the …

-control are more likely to invest in illiquid pensions while less likely to hold very liquid forms of assets. …

We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …. As mortality falls, however, it becomes optimal to plan, and save for, retirement. We simulate our model using actual …

Many workers reveal a preference for a gradual reduction in work hours as they approach retirement (“phased retirement …”), rather than a sudden change from full-time work to full-time retirement. Pension regulations may impede phased retirement … without a switch of employers by prohibiting access to pension assets. This study uses Health and Retirement Survey data to …