contributions boosted in many nations. Yet our research on old-age system reforms does not require raising mandatory retirement ages … or contributions. Instead, we offer ways to enhance incentives for people to work longer and delay retirement. There are … good reasons to incentivize older people to work longer and delay retirement. These include rising longevity, the shrinking …

This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase … voluntarily claim about half a year later if the lump sum were paid for claiming any time after the Early Retirement Age, and … about two-thirds of a year later if the lump sum were paid only for those claiming after their Full Retirement Age. Overall …