This paper adds to the empirical literature on health as an important determinant of employment at older ages by exploring the role in the health-employment nexus of the wage rates of 50 to 64-year-old workers. To do so, we use individual-level panel data from the Survey of Health, Ageing and...

This paper examines the impact of participants' age distribution on the asset allocation of Dutch pension funds, using a unique data set of pension fund investment plans for 2007. Theory predicts a negative effect of age on (strategic) equity exposures. We observe that pension funds do indeed...

The paper provides a perspective on the development of the Belgian disability insurance system. Using both survey and administrative data, it sketches a picture of the (changing) factors leading towards disability, as well as the outcomes in terms of program participation. The paper shows the...

In this study, we analyse the actuarial features of the Italian pension system after the 1995 reform. We consider both the old defined benefit, the pro-rata and the new notional defined contribution pension rules applied to private sector employees born between 1945 and 2000. In the...

In this paper we use the actual rules and formulas of an occupational pension fund, the state pension fund and the tax system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement scenarios. We then vary the parameters of the pension...

The paper studies retirement behavior of wage‐earners in Belgium – for the first time using rich survey data to explore retirement incentives as faced by individuals. Specifically, we use SHARE data to estimate a model à la Stock and Wise (1990). Exploring the longitudinal nature of...

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Population aging and the poor performance of financial markets during recent years put the sustainability of pension arrangements in many Western countries under pressure. In order to investigate whether the Dutch will be able to cope with possible cutbacks in the generosity of pensions, we...

This paper adds to the empirical literature of health as a potential endogenous explanatory variable in wage equations by addressing problems such as unobserved heterogeneity, sample selection and measurement error (in the health variable) in one comprehensive framework. Moreover, by using...

Using data on individuals of 50 and older from 11 European countries, we analyze two economic aspects of subjective well-being of older Europeans: satisfaction with household income, and job satisfaction. Both have been shown to contribute substantially to overall well-being (satisfaction with...