January 2022
12Jan

US. 5 Benefits of Delaying Retirement

Delaying retirement can be a major sacrifice, especially if you're eager to leave behind the working world and start enjoying a life of leisure as a senior. But it's also a sacrifice worth making in many cases. There are five huge benefits of putting off your departure from your job, all of which should be carefully considered before you decide to give notice.   1. You can make a delayed Social Security claim The longer you wait to start your Social Security checks,...

January 12, 2022
News, Slider, , ,
Read more...

December 2021
23Dec

Aging, Retirement and Economic Growth

By Chao Ma & Xiangbo Liu This paper aims at examining the effects of an increase in life expectancy on long-run growth boosted through endogenous human capital accumulation. We first justify the negative growth effects of population aging by developing a three-period overlapping generation (OLG) model with private and public education systems and a social security scheme of a pay-as-you-go (PAYG) nature. In our model, government expenditure structure is allowed to adapt to demographic shifts for the purpose of maintaining...

December 23, 2021
Aging, Articles, ,
Read more...
20Dec

UK. Demands to delay rises in the state pension age

Plans to raise the state pension age from 66 should be shelved because we are not living as long as previously expected, a new report has suggested. Current plans would see the age at which people are eligible for the state pension go up to 67 by 2028, and then eventually to 68. Consultant LCP says life expectancy has stalled and no changes should be made for 30 years. The government has just launched its latest review of the state pension age. At...

December 20, 2021
News, Slider, , ,
Read more...
16Dec

Switzerland. Pension reform passes in parliament but set to be challenged to vote

By SWI The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well as an increase in value-added tax. Both chambers of parliament on Wednesday agreed on a series of compromises, but left-wing political parties and trade unionsExternal link have vowed to challenge the reform in a nationwide vote. They argue women have to bear the brunt of the reform as their official retirement age will be set at 65, in line...

December 16, 2021
News, Op-Ed, , ,
Read more...
11Dec

Reforms of an Early Retirement Pathway in Germany and Their Labor Market Effects

By Regina T. Riphahn & Rebecca Schrader 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 investigate behavioral responses to the reforms using administrative data and difference-indifferences strategies. We find strong and...

December 11, 2021
Articles, Pension design, , ,
Read more...

November 2021
19Nov

Early Retirement of Employees in Demanding Jobs: Evidence from a German Pension Reform

By Johannes Geyer, Svenja Lorenz, Thomas Zwick & Mona Bruns 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 early retirement options. To measure differences in labor market reactions of employees in low- and high-demand jobs, we exploit the quasi-natural experiment of a cohort-specific...

November 19, 2021
Articles, , ,
Read more...
13Nov

The Rising Age of Retirement and Life Expectancy

For many people retirement is something to look forward to, with it being a new stage to life with no work and endless opportunities. Our Life Plan has predicted how old individuals will be when they retire up to 29 years into the future. They have looked into the rising age of retirement across 36 OECD countries, revealing that some workers can expect to be 82 when they retire. The team has also predicted how long these individuals can expect to...

November 13, 2021
Aging, Books, Books, Reports, ,
Read more...
05Nov

The Skill-Specific Automatability of Aging Workers and Retirement Decisions

By Zeewan Lee Much of the discourse on the impact of automation on labor supply tends to assess the labor force as a whole, thereby disregarding the marginal effect on aging workers. In lights of the growing technological changes, we assess the linkage between the automatability of workers and retirement timing. Based on the theoretical model of task-based technological changes and drawing data from the Health and Retirement Study and O*NET, we create an Automatability Index based on workers’ primary...

November 5, 2021
Aging, Articles, Innovation, Labor Market, , ,
Read more...

October 2021
26Oct

COVID caused more than 3 million Americans to retire early, a new Fed analysis finds

More than 3 million Americans decided to retire earlier than they would have due to the COVID-19 pandemic, according to a new analysis. Miguel Faria E Castro, a senior economist at the St. Louis Fed, compared retirees to the baby-boomer trend to distinguish between “normal” and “excess” retirements. As of August, he found, there were slightly over 3 million excess retirements, which is more than half of the 5.25 million people who have left the labor force since the beginning...

October 26, 2021
News, Slider, , , ,
Read more...