longer and birth rates have declined. Postponing the full retirement age (FRA), when retirees are entitled to full pension …

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 …

model with stochastic life expectancy across generations and endogenous retirement decisions. The social optimum is shown to … imply that retirement age should be proportional to longevity. Moreover, increasing longevity calls for pre-funding even if … sharing and retirement incentives are analyzed. …

While the effect of social security systems on retirement decisions has received much attention, the impact of these … investment and retirement decisions in a simple analytical life-cycle model with full certainty and investigate how different … contributions and benefits increase human capital investment and postpone retirement. …

Germany recent reforms that aim at raising retirement age and cutting benefit levels should be complemented by increases in … ; tax-benefit linkage ; endogenous retirement ; population ageing …

We investigate the responsiveness of individual retirement decisions to changes in financial incentives. A reform … increased women's normal retirement age (NRA) in two steps from age 62 to age 63 first and then to age 64. At the same time … retirement at the previous NRA became possible at a benefit discount. Since the reform affected specific birth cohorts we can …