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We evaluate the retirement incentives embedded in Canada's retirement income system with attention to where individuals … fell substantially after 2011. Our regression estimates confirm the importance of incentives on retirement behavior, with … that changes to the actuarial adjustment had some impact on retirement rates by lowering the implicit tax on work. The …
Persistent link: https://www.econbiz.de/10015094911
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 …
Persistent link: https://www.econbiz.de/10013388828
We examine the labor supply impact of a 2016 policy that allows retirement-eligible individuals covered by Peru …'s private pension system to receive retirement benefits as a lump sum rather than as an annuity. We present a theoretical model …) more attractive relative to informal employment (not requiring pension participation); it also encourages early retirement …
Persistent link: https://www.econbiz.de/10014528419
social security reforms. We further estimated the association of ITAX with an individual's decisions concerning retirement … forms on retirement based on the estimated regression parameters. The results showed that a higher ITAX drove individuals …
Persistent link: https://www.econbiz.de/10014322857
Health and Retirement Study, we compare respondents' observed Social Security claiming ages and benefits with subjective …
Persistent link: https://www.econbiz.de/10014247944
much more attractive thanks to three factors: a more generous delayed retirement credit, improvements in mortality, and …
Persistent link: https://www.econbiz.de/10013537737
This paper explores the determinants of the level of, and trends over time in, Japan's household saving rate, with emphasis on the impact of the age structure of the population, and makes projections about future trends therein. The paper finds that Japan's household saving rate has not always...
Persistent link: https://www.econbiz.de/10015145132
return on risky investments. The model also incorporates endogenous retirement and a realistic social security system … of an aging population (extending the age of retirement or cutting social security benefits) have similar magnitudes and …
Persistent link: https://www.econbiz.de/10013362004
Budget set kinks are much studied in economics, including in the context of "bunching" estimators that assume individuals react to the true marginal tax rate. We document that individuals disproportionately "left-bunch" below kinks in the context of the Social Security Earnings Test where...
Persistent link: https://www.econbiz.de/10015326489
We estimate the impact of public pension systems on labor supply far from the normal retirement age by exploiting …
Persistent link: https://www.econbiz.de/10013334402