This study investigates whether many people fear an unexpectedshock in their financial situation around retirement and whether therelated expectations and realizations match each other. We use theDutch Social Economic Panel survey data, where expectations aboutthe next year's financial situation...

In the early 1990s, the Dutch social partners agreed upon transforming the generous and actuarially unfair PAYG early retirement schemes into less generous and actuarially fair capital funded schemes. The starting dates of the transitional arrangements varied by industry sector. In this study,...

Major events in the life of an elderly individual, such as retirement, a significant decrease in income, death of the spouse, disability, and a move toa nursing home, may affect the mental health status of the individual. Forexample, the individual may enter a prolonged depression. We...

This paper aims to assess the relative importance of differences in behaviouralresponses to financial incentives in explaining the observed variation in retirement behaviour across different types of households. We specify and estimate models for singles and married couples and estimate these on...

In a pension system with uniform policies for contribution and accrual, each participant has the same contribution rate and accrual rate independent of the age at the time of payment. This is not actuarially fair because the investment horizon of young participants is longer than the investment...