This paper identifies and estimates the impact of early retirement on the probability to die within five years, using … civil servants became eligible for retirement earlier than expected during a short time window. This exogenous policy change … is used to instrument the retirement choice in a model that explains the probability to die within five years. Exploiting …

responding to changes in their financial incentives to work. Taken together, our results suggest that the fiscal strengthening …

that financial incentives for early retirement stem mainly from the Austrian tax system and not from the pension system … constitutes an incentive for people to retire. We show that there are almost no financial incentives within the Austrian pension …

We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …

analytically characterize Pareto efficient policies when the main tension is between redistribution and provision of incentives …: while it may be more efficient to have highly productive individuals work more and retire older, earlier retirement may be … needed to give them incentives to fully realize their productivity while they work. We show that, under plausible conditions …

there are financial incentives for early retirement, which may arise due to the Austrian tax system. Additionally, we show …This paper takes a closer look at the existing early retirement schemes in Austria and analyses whether early … retirement imposes a financial burden on the pension system (actuarial neutrality). Additionally, we compute incentive …

, we analyze the financial incentives for working longer and postponing claiming pension benefits and we assess the …