We study the effects of public pension systems on the retirement timing of older workers and, in turn, the health … consequences of delaying retirement by those workers. Causal inference relies on a social security reform in Israel that shifted … for employment, we find that working an additional full year at old age decreases longevity. This mortality effect occurs …

utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … expectancy magnifies the negative effect on the lifetime utility of those who suffer low longevity. Furthermore, when the income …

longevity. Health-demanding work leads to a faster accumulation of health deficits and is remunerated with a hazard markup on … in an extension of the model with regard to endogenous retirement. …