We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …

In 2011, the Hungarian government introduced seniority pensions (Female40): females, who have been accumulating at … reduction. The elimination of other early retirement scheme in 2012 and slowly rising real wages made the program even more … popular: the lifetime benefit was maximized at the earliest retirement. Since 2016, real wages have been growing rather fast …

In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …