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We evaluate the retirement incentives embedded in Canada's retirement income system with attention to where individuals are located in the income distribution. We find that larger social security benefits are available to individuals with lower earnings in their work history because of the...
Persistent link: https://www.econbiz.de/10015094911
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
This paper studies cost of living adjustments in pensions from the perspective of labor economics. Evidence from longitudinal data on pension and annuity incomes of retirees suggests that pension COLAs are less important in the 1980s than in the 1970s, but that through 1987 they continued to...
Persistent link: https://www.econbiz.de/10012475079
This study examines how elderly employment is associated with social security programs and how it responds to recent reforms in Japan. To this end, we employed a rich and longitudinal dataset of middle-aged and older individuals collected between 2005 and 2018. By incorporating various factors...
Persistent link: https://www.econbiz.de/10014322857
This is the introduction to and summary of Phase III of an international research project to study the relationship between social security provisions and retirement. The project relies on the work of a large group of economists in 12 countries who conduct the analysis for each of their...
Persistent link: https://www.econbiz.de/10012467394
Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid …
Persistent link: https://www.econbiz.de/10012480931
Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the …
Persistent link: https://www.econbiz.de/10012458544
This paper seeks to explain the key two stylized facts of fundamental reforms to social security systems worldwide: Why have so many countries reformed when traditional systems seem, at first glance, to have a higher probability of delivering a secure retirement income? Why have these reforms...
Persistent link: https://www.econbiz.de/10012461643