We examine the impact of mandatory retirement on the retirement decisions of professors in Canada using administrative data. We find that the age distributions of professors at universities without mandatory retirement and those at universities with mandatory retirement at age 65 have diverged...

A premature death unexpectedly brings a life and a career to their end, leading to substantial welfare losses. We study the retirement decision in an economy with risky lifetime, and compare the laissez-faire with egalitarian social optima. We consider two social objectives: (1) the maximin on...