. It is likely that the individual level of wealth will become an increasingly important factor in the retirement decision … effect of wealth on the probability to retire (early). -- retirement ; life cycle models ; saving …In the literature theoretical models have appeared that predict a positive impact of the level of individual wealth on …

This research analyses retirement behaviour in Austria based on a combined administrative dataset. Data from the … comprehensive microsimulation model of the Austrian pension system is developed and applied to calculate retirement benefit … constructed. Specifically, social security wealth, accrual rate, peak and option values are computed for more than 300 …

This research analyses retirement behaviour in Austria based on a combined administrative dataset. Data from the … comprehensive microsimulation model of the Austrian pension system is developed and applied to calculate retirement benefit … constructed. Specifically, social security wealth, accrual rate, peak and option values are computed for more than 300 …

observed trend towards early retirement. In a world of laissez-faire or of first-best efficiency, there would be no such … variables are not observable, the optimal policy does imply a distortion of the retirement decision. Consequently, the … inducement of early retirement may be part of the optimal tax-transfer policy. We consider a model in which individuals differ in …