How social security reform affects retirement and pension claiming
By: Lalive, R., Magesan, A. and Staubli, S
.
Material type: 
BookPublisher: American Economic Journal: Economic Policy Description: 15(3), Aug, 2023: p.115-150.Subject(s): Social security reform, Retirement, Pension
In:
American Economic Journal: Economic PolicySummary: A reform increasing the full retirement age (FRA) by one year leads to larger than expected delays in pension claiming and retirement, while making late claiming more lucrative leads to a smaller than expected delay in pension claiming. Survey evidence shows people view the FRA as the "normal" retirement age and prefer to couple pension claiming and retirement decisions together, even though these two decisions are not coupled through social security provisions. Two mechanisms are at work: reference dependence with loss aversion in pension claiming, and spillovers from pension claiming on retirement choices. The FRA increase leads to large government savings.- Reproduced
https://www.aeaweb.org/articles?id=10.1257/pol.20200686
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
Articles
|
Indian Institute of Public Administration | 15(3), Aug, 2023: p.115-150 | Available | AR130121 |
A reform increasing the full retirement age (FRA) by one year leads to larger than expected delays in pension claiming and retirement, while making late claiming more lucrative leads to a smaller than expected delay in pension claiming. Survey evidence shows people view the FRA as the "normal" retirement age and prefer to couple pension claiming and retirement decisions together, even though these two decisions are not coupled through social security provisions. Two mechanisms are at work: reference dependence with loss aversion in pension claiming, and spillovers from pension claiming on retirement choices. The FRA increase leads to large government savings.- Reproduced
https://www.aeaweb.org/articles?id=10.1257/pol.20200686
There are no comments for this item.