explaining the observed variation in retirement behaviour across different types of households. We specify and estimate models … to decompose the observed differences in retirement trends of the different demographic subgroups into differences in … preferences and differences in theavailability and generosity of the retirement options. …

How much retirement income is needed in order to maintain one's living standard at old age? As it is difficult to find … replacement rate vis- a-vis income in the pre-retirement period. We subject indications regarding satisfaction with current income … the year of entry into retirement as a rather robust result, while replacement rates keeping the living standard unchanged …

is virtually zero and that of financial assets wealth is positive, increasing the retirement probability. The … substitution effect of earned income is negative, thus decreasing the retirement probability. The retirement decision is strongly … state persistent for up to three years after the initial retirement decision and the state persistence of retirement is …

to the statutory retirement age. In a first section we look at the income mix of early retirees and senior workers from a …