retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario …

This paper provides a two-part empirical analysis on how actuarial reduction rates for early retirement affect current … pension payments in Germany and to what extent the existence and the magnitude of such reduction rates influence people …’s retirement planning. First, when looking at administrative records, early retirement shows a high prevalence at the extensive and …

This paper analyzes behavioral responses to a reform in the German public pension system that allowed individuals with … a long contribution history to retire without deductions before reaching the regular retirement age. Following the 2014 … reform, individuals with 45 contribution years could retire without deductions as early as age 63 instead of age 65. Using …

This paper analyzes behavioral responses to a reform in the German public pension system that allowed individuals with … a long contribution history to retire without deductions before reaching the regular retirement age. Following the 2014 … reform, individuals with 45 contribution years could retire without deductions as early as age 63 instead of age 65. Using …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ …In aging societies, information on how to reform pension systems is essential to policy makers. This study scrutinizes … retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that retirement behavior is strongly influenced by the level of disincentives. Further, disincentives …In aging societies, information on how to reform pension systems is essential to policy makers. This study scrutinizes …

This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase … voluntarily claim about half a year later if the lump sum were paid for claiming any time after the Early Retirement Age, and … about two-thirds of a year later if the lump sum were paid only for those claiming after their Full Retirement Age. Overall …

In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …

This paper provides a two-part empirical analysis on how actuarial reduction rates for early retirement affect current … pension payments in Germany and to what extent the existence and the magnitude of these reduction rates influence people s … retirement planning. First, by evaluating a large dataset of administrative records it becomes evident that early retirement …

We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement … reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use … early retirement with benefit discounts. Reform 2 (ERA) increased the age of early retirement stepwise from 60 to 63. We …