context of work and retirement patterns in Indonesia, Korea, the United States, and the United Kingdom. As is common in many … developing countries, China can be characterized as having two retirement systems: a formal system, under which urban employees … receive generous pensions and face mandatory retirement by age 60, and an informal system, under which rural residents and …

This paper suggests that pension characteristics are simultaneously determined along with workers’ retirement ages …. Both the age of pension eligibility and actual retirement age are determined by the productivity and marginal disutility of … retirement that treat pensions as exogenous, implying that prior empirical work may have overestimated the responsiveness of …