We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension...

An important segment of labour regulations concerns the protection aspects of social security. These regulations provide safety nets or fall back mechanisms to enable workers to cope with crises that affect households from time to time, such as illness, employment injury, death or old age. This...