possibility of delayed retirement ages. However, the postponement of retirement may not be universally feasible, since not all … workers may be willing and able to continue working past the standard retirement age, due to health status and other factors …. We model this uncertain retirement problem in an overlapping generations general equilibrium framework with flexible …

The present paper studies the growth and efficiency consequences of pension funding with individual retirement accounts … retirement plans. Three major findings are derived in our study: First, we quantify the commitment effect of social security for … gains are only attainable if accounts are voluntary and not mandatory. -- individual retirement accounts ; annuities …