We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort … defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows …

Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the … legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …