This study conducts a financial projection of the basic pension in Korea, which provides cash assistance to the bottom 70% of elderly individuals aged 65 and over. The projection is carried out under both expansion and selective eligibility criteria, with particular emphasis on the latter....

We study the effects of retirement on cognitive functioning among women aged 63 to 67 by exploiting a German retirement reform that raised the early retirement age for women born after 1951 by three years, from 60 to 63. Our indicators of cognitive functioning are experimental measures (word...

We explore the importance and nature of elderly couples' labor market interlinkages, and how such linkages shape the response to welfare reforms. To this end, we build a life cycle model with dual-earner households, featuring heterogeneous age gaps, non-separable leisure preferences, and...

We study the influence of family members, neighbors and coworkers on retirement behavior. To estimate causal retirement spillovers between individuals, we exploit a pension reform in the Netherlands that creates exogenous variation in peers' retirement ages, and we use administrative data on the...

The aim of this study is to assess the impact of the ongoing harmonisation of the retirement age for women with that for men on women's labour supply in Austria. According to the current legal framework, the standard retirement age for women will be gradually raised from 60 to 65 years from 2024...

Capturing the heterogeneity of life courses improves the accuracy, detail and policy relevance of population and labour force projections. Our study uses the microsimulation model microDEMS for Austria, which simulates individual life courses at a high level of detail and in their family...

We provide novel evidence about the incentive and welfare effects of an increase in the generosity of disability benefits. Importantly, a unique policy variation in Germany allows us to isolate the income effect of a change in benefit generosity. We leverage this quasi-experimental policy...

We provide novel evidence about the incentive and welfare effects of an increase in the generosity of disability benefits. Importantly, a unique policy variation in Germany allows us to isolate the income effect of a change in benefit generosity. We leverage this quasi-experimental policy...

We provide novel evidence about the incentive and welfare effects of an increase in the generosity of disability benefits. Importantly, a unique policy variation in Germany allows us to isolate the income effect of a change in benefit generosity. We leverage this quasi-experimental policy...

This study provides novel evidence about the pension wealth elasticity of employment. For the identification we exploit reform-induced variation of pension wealth that is related to the number of children but which does not affect the implicit tax rate of employment. We use a...

We evaluate a comprehensive reform of Norwegian early retirement institutions in 2011 through the lens of a parsimonious random utility choice model. The reform radically changed work incentives and/or pension access-age for some (but not all) workers. We find that improved work incentives...

This paper analyzes behavioral responses to a 2014 reform in the German public pension system that lowered the full retirement age (FRA) of individuals with a long contribution history by up to two years and framed the new FRA as reference age for retirement. Using administrative data from...

This paper analyzes behavioral responses to a 2014 reform in the German public pension system that lowered the full retirement age (FRA) of individuals with a long contribution history by up to two years and framed the new FRA as reference age for retirement. Using administrative data from...

An accident, a chronic illness, or even a congenital disability are common causes of a loss of earning capacity. Although the loss of earned income is insured through the reduced earning capacity pension in the statutory pension insurance scheme, the amount received is so low that people with...

This study provides novel evidence about the pension wealth elasticity of employment. For the identification we exploit reform-induced variation of pension wealth that is related to the number of children but which does not affect the implicit tax rate of employment. We use a...

Using the differentiated increase in retirement age across cohorts introduced by the 2010 French pension reform, we estimate the health-consumption effects of a 4-month increase in retirement age. We focus on individuals who were close to retirement age but not retired yet by the time the reform...

This report contains a case study for the Study supporting the Impact assessment of the future European Social Fund proposal. Achieving structural change: conditions for success in the areas of ESF intervention. The reform under assessment focuses on the 2015 pension reform in Finland, and...

This paper examines the evolution and challenges of Kosovo's pension system. Since its inception, a basic pension and mandatory individual accounts have formed the key element of Kosovo's pension system. Over the years, the pension system has expanded to include a variety of merit pensions,...

Zu den wichtigsten Sicherheitsversprechen der Sozialpolitik gehört eine auskömmliche Rente. Doch schon heute erleben viele Menschen beim Übergang in die Rente erhebliche Einschränkungen ihres Lebensstandards, und die zukünftige Finanzierung des Sicherheitsversprechens wird kontrovers...

In many countries, the regulations governing pension systems, hiring procedures, and job contracts differ between the public and private sectors. Public sector employees tend to have longer tenures and higher wages compared to workers in the private sector. As such, social security reforms can...

The Social Security "full retirement age" (FRA) is the age at which retirement income benefits are available without reduction for early commencement. Presently, that age is 67 for those born in 1960 or later. This paper is about the unfair and unnecessary threat to reduce Social Security...

This study conducts a financial projection of the basic pension in Korea, which provides cash assistance to the bottom 70% of elderly individuals aged 65 and over. The projection is carried out under both expansion and selective eligibility criteria, with particular emphasis on the latter....

This paper examines reform measures for the National Pension System, analyzing their fiscal impacts. Despite past reforms adjusting contribution and replacement rates, the system faces ongoing sustainability challenges. We forecast that the reserve fund, peaking at 1,972.0 trillion KRW in 2039,...

We highlight the strong connection between developing fully-funded, individually-owned, collectively-managed, mandatory/incentivized (FICMI) pension schemes and the development of domestic stock markets. We do so by building a stylized model and complementing the analysis with cross-country...

This paper investigates the welfare effects of two types of pension reforms aimed at addressing challenges due to aging populations. The study uses a framework by Kolsrud et al. (2024), decomposing welfare into consumption smoothing and fiscal externality effects. Norwegian administrative data...

This study uses data from the Singapore Life Panel to investigate the effects of age-related policy reforms on older adult labor supply behaviors in Singapore. We first evaluate the impact of the Retirement and Re-employment Act (RRA) reform in 2017, which raised the maximum re-employment age...

Recently, mandatory pension contributions in the private sector in Iceland were increased substantially while remaining unchanged in the public sector. This constituted a large natural experiment. We study the effects of this experiment on households’ voluntary saving using administrative...