The objective of the paper is to examine the retirement behaviour of Belgian workers in one-earner households who are automatically granted a more generous old-age pension benefits replacement rate, called the household replacement rate. Following a recommendation of the Belgian Pension Reform...

[Einleitung ...] Der Beitrag gibt im folgenden Abschnitt einen kurzen Überblick über den rechtlichen Kontext der Erwerbsminderungsrente und beschreibt die jüngsten Reformen im Detail. Dann dokumentieren wir ausgewählte Studien zur sozioökonomischen Lage von Erwerbsminderungsrentnerinnen und...

Die Unzulänglichkeiten der Alterssicherungssysteme in Deutschland und insbesondere der gesetzlichen Rentenversicherung, in ausreichendem Maße auf den demographischen Wandel zu reagieren und sich an diesen - im Sinne der Generationengerechtigkeit - anzupassen, sind seit Jahrzehnten bekannt. Der...

Das schwedische Rentensystem wird oft als Vorbild für Rentenreformen herangezogen. Durch eine umfassende Reform wurde 1994/1998 das seit 1960 bestehende öffentliche System ersetzt. Das neue System beinhaltet unter anderem individuelle Investmentkonten und eine Garantierente. Das reformierte...

This study analyzes the causal effect of an increase in the retirement age on health. We exploit a sizable cohort-specific pension reform for women using two complementary empirical approaches - a Regression Discontinuity Design and a Difference-in-Differences approach. The analysis is based on...

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)...

Das schwedische Rentensystem wird oft als Vorbild für Rentenreformen herangezogen. Durch eine umfassende Reform wurde 1994/1998 das seit 1960 bestehende öffentliche System ersetzt. Das neue System beinhaltet unter anderem individuelle Investmentkonten und eine Garantierente. Das reformierte...

Introduced 20 years ago as a part of the 2001 pension reform, the Riester pension is meant to function as an essential component of the German pension system with the aim of compensating for decreasing public pensions. However, data collected by the SOEP show that this objective has not yet been...

Sweden is often hailed as a model for far-reaching pension reform. The comprehensive 1994/1998 reform replaced the existing statutory system that had been in place since 1960 with a new system based on notional defined contributions, individual investment accounts, and a guarantee pension. The...

This study analyzes the causal effect of an increase in the retirement age on health. We exploit a sizable cohort-specific pension reform for women using two complementary empirical approaches - a Regression Discontinuity Design and a Difference-in- Differences approach. The analysis is based on...

Early retirement options are usually targeted at employees at risk of not reaching their regular retirement age in employment. An important at‐risk group comprises employees who have worked in demanding jobs for many years. This group may be particularly negatively affected by the abolition of...

This paper examines the empirical link between retirement and the supply of volunteer labor, using panel data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey. To identify the causal impact, we exploit a major reform of the Australian Age Pension which has significantly...

We study the effects of two exogenous modificationsin the Swedish pension system application formnudgingindividuals towards a fixed-term payout.Meanwhile, the set of available options and the default option-life annuity -were unchanged during the period under study. We examine the effects on...

The incidence of working for earnings beyond the normal pension age of 55 for females and 60 for males in urban China and Russia is investigated using micro-data for 2002, 2013, and 2018. Estimated logit models indicate that, in both countries, the probability of working after normal retirement...

This paper studies the elimination of traditional pensions and subsequent adoption of 401(k) plans by U.S. employers. Using thousands of firm-level natural experiments, it shows that unexpected losses in future compensation engendered by pension plan transitions induce premature retirement for...

Die Unzulänglichkeiten der Alterssicherungssysteme in Deutschland und insbesondere der gesetzlichen Rentenversicherung, in ausreichendem Maße auf den demographischen Wandel zu reagieren und sich an diesen - im Sinne der Generationengerechtigkeit - anzupassen, sind seit Jahrzehnten bekannt. Der...

Pension taxation has large budgetary and distributional effects, in particular in the light of ageing societies and the importance of pension benefits in old-age income. This paper investigates the impact of taxing public and mandatory occupational old-age pensions in the EU, focusing on both...

Increasing retirement ages in an automatic or scheduled way with increasing life expectancy at retirement is a popular pension policy response to continuous longevity improvements. The question addressed here is: to what extent is simply adopting this approach likely to fulfill the overall goals...

As the heterogeneity in life expectancy by socioeconomic status increases, pension systems become more regressive implying wealth transfers from short to long lived individuals. Various pension reforms aim to reduce these inequalities that are caused by ex-ante differences in life expectancy....

Purpose: The purpose of this paper is to examine whether cross-country differences in pensionable age explain such differences in economic activity of people at near-retirement age. Design/methodology/approach: The empirical study uses regression models for macro-panel encompassing 21 European...

Early retirement options are usually targeted at employees at risk of not reaching their regular retirement age in employment. An important at-risk group comprises employees who have worked in demanding jobs for many years. This group may be particularly negatively affected by the abolition of...

The aim of this paper is to assess the impact of reforms introduced in the operation of Polish open pension funds on management style, risk exposure and related investment performance. The article analyzes the impact of the reformed regulations on the herd behavior of fund managers. In...

This work documents a persistent life expectancy heterogeneity by gender and geography in Italy during the period 1995-2019. Based on deviations of life expectancy at age 65, it quantifies the implicit tax/subsidy mechanism triggered when pensions annuities are computed by adopting the same...

The broadly used pay-as-you-go (PAYG) pension system is intrinsically wrong. The essence of the problem is that the PAYG system distributes the yield of raising children, i.e., of human capital investment (which is essentially the pension contribution), in such a way that it disregards the...