Over the last fifteen years, France has experienced a reversal of older workers' labor force participation and employment rates. Changes in health, life expectancy or education levels over the period are trend variables and thus cannot explain this "U-shaped" time profile. Pension reforms and...

We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement...