Bütler, Monika; Peijnenburg, Kim; Staubli, Stefan - 2013
We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a … subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means … disadvantages, giving up "free" wealth in the form of means-tested supplemental benefits. We find that the availability of means-tested …