It is argued that the tax on continued activity should be removed by implementing actuariallyfair schemes. However, these schemes cannot fund the expected Social Security deficit. This paper proposes to give individuals a fraction of the actuarially-fair incentives in the case of postponed...

It is often argued that the tax on continued work should be removed by implementing actuarially fair schemes. However, these schemes cannot help fund the expected Social Security deficit. This paper proposes to give individuals only a fraction of the marginal actuarially fair incentives in case...

Social Security provisions impose a tax on continued work whereas delaying the retirement age would be favorable for the financial stability of the system. It is often argued that this tax could be removed by implementing actuarially fair schemes. However, by defimtion, actuarially fair benefits...