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How accurate are older people's expectations about their future Social Security benefits? Using panel data from the Health and Retirement Study, we compare respondents' observed Social Security claiming ages and benefits with subjective expectations provided during their 50s and early 60s. We...
Persistent link: https://www.econbiz.de/10014247944
In recent decades, many states have reduced future retirement benefits for newly hired teachers. We estimate that in 2020 the average initial monthly retirement benefit, for teachers retiring with 30 years of service, is 11.2 percent lower than that of teachers retiring in the same plan with the...
Persistent link: https://www.econbiz.de/10013388828
Many people forgo a higher stream of public pension income by claiming early. We provide both quasi-experimental and survey-experimental evidence that the timing of public pension claiming is relatively inelastic to changes in financial incentives in Canada. Using the survey experiment, we...
Persistent link: https://www.econbiz.de/10014226135
Persistent link: https://www.econbiz.de/10010482534
This paper presents a dynamic model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations are derived when pension fund management maximize the utility of wealth of a representative taxpayer or when pension fund management maximize their own utility of compensation....
Persistent link: https://www.econbiz.de/10012462201
In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life...
Persistent link: https://www.econbiz.de/10012466040
"This ninth volume of the International Social Security series, which studies the social security and retirement experiences of 12 developed countries, examines the effects of pension reform on employment at older ages. In the two decades since the project began, a dramatic decline in men's...
Persistent link: https://www.econbiz.de/10012199929
the financial solvency of social security systems around the world. Ironically, the provisions of the systems themselves …
Persistent link: https://www.econbiz.de/10012472679
-being around the world: evidence from the gallup world poll / Angus Deaton -- Comment / Amitabh Chandra and Heidi Williams …
Persistent link: https://www.econbiz.de/10003840826