effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that retirement behavior is strongly influenced by the level of disincentives. Further, disincentives …

Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the … legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …

The public pension system in Germany allows early retirement albeit at the cost of pension deductions. Deductions are … calculated under the assumption that life expectancy is independent of the age of retirement and apply equally for men and women … show that remaining lifetime and thus the perpetuity period vary with the age of retirement. In a survival analysis using …

, secondly, individuals face a voting process on the legal retirement age. The results suggest that governments attempting to … postpone the legal retirement age should increase the degree of intra-generational redistribution of the pension system in … some degree of redistribution to that aim. -- legal retirement age ; voting process ; degree of redistribution …

women, (b) maintain the existing retirement age but require older workers to work longer per-period hours. There are reasons …-off between later retirement versus increased work intensity, produce relevant background facts, and provide estimates of the … policy trade-offs. -- Older workers ; statutory retirement age ; hours of work …

.g., consumption smoothing. Third, it argues that the extending of the retirement age may counteract the aging of the population and …

of the marginal actuarially fair incentives in case of postponed retirement. Social Security then faces a trade …-off between giving enough incentives to make individuals actually delay retirement and giving little increase in pensions in order …. Furthermore, we analyze the interactions between wealth and retirement behavior …