In 2007 Germany has introduced a pension reform which increases the normal retirement age from currently age 65 to 67 … effective retirement age by about one year and redistribute towards future cohorts. However, it hardly reduces old-age poverty … since rich people are more flexible in adjusting retirement. Overall, the efficiency gains of the reform are very modest …

This paper explores the effect of letting individuals choose their retirement age in a world of uncertainty where there … finds that it is preferable to let people make their retirement decision after rather than before the uncertainty is lifted …

Flexible retirement - that is the opportunity to choose one’s own personal retirement age - serves as a hedge against … pension risk and provides insurance to workers facing health or productivity shocks. Flexible retirement and flexible pension … discusses three conditions to provide insurance through flexible retirement. First, it should be possible to adjust the pension …

scheme contains within-cohort redistribution and induces early retirement. Such a Pareto-improving reform entails the …-neutrality that stimulates later retirement further improves such a flexibility reform …

state pension age was increased to 61. This implies the early retirement age explained almost all excess retirements at age …

Using Italian data, we estimate an option value model to quantify the effect of financial incentives on retirement …

In the policy debate on increasing the statutory retirement age, the issue has been raised to make an exception for … retirement scheme for such occupations through higher taxes. A representative sample of Dutch adults answered several questions … confounding factors affecting the evaluations of the demanding nature of the jobs as well as their reasonable retirement age or …

We study retirement incentives with augmented option value model à la Stock and Wise (1990). We propose methodological … modelling of couples' incentives leads to very different patterns of retirement incentives – particularly for women. We apply … the new indicators to data from the Survey of Health, Ageing and retirement in Europe (SHARE) in Belgium and find two key …

system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement … analyze the implications of late full retirement and partial retirement for the occupational and state pension entitlements …. We pay particular attention to the retirement scenarios that are relevant for the current policy measures, aimed at …

Germany recent reforms that aim at raising retirement age and cutting benefit levels should be complemented by increases in …