In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …

We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …

The present paper studies the growth and efficiency consequences of pension funding with individual retirement accounts … retirement plans. Three major findings are derived in our study: First, we quantify the commitment effect of social security for … gains are only attainable if accounts are voluntary and not mandatory. -- individual retirement accounts ; annuities …

financing of retirement pensions, and we use optimal fiscal policy in order to determine the optimal strategy of the social … sustainability of existing retirement pensions. At the same time, pensions will be financed in a way that by construction generates … is based in the following ingredients: elimination of compulsory retirement, a change in the structure of labor income …