We provide a long-term perspective on the individual retirement behaviour and on the future of retirement. In a … equilibrium with positive social security contribution rates and early retirement. Aging has two opposite effects: it leads to … the existence of crucial income effects: a decrease of the income of young people will induce them to postpone retirement …

Doubts about the ability of industrialized countries to continue to provide a sufficient level of retirement benefits … population, the redistributive feature of each system, and the existing retirement policy in each country. He concludes that an … aging population will lead to more pension spending; yet postponing retirement mitigates the impact of this, and may be the …