Heterogenous life expectancy, adverse selection, and retirement behaviour

Arbeitspapier

This article surveys the literature on selection effects in retirement behavior. More specifically, we consider early retirement schemes with actuarially fair adjustments based on average life expectancy. To this end, we recapitulate the theoretical literature on selection effects and resulting optimal benefit rule design. Yet, the emphasis is on the results of the heterogeneous empirical literature. Indeed, there is evidence of individuals incorporating private information about their life expectancy into retirement decisions. But other determinants of retirement choice turn out significant, too, e.g. health, changes in family structure, or sheer affordability. The literature does not provide clear results concerning the relative magnitude of these effects.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Diskussionsbeiträge ; No. 13

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Social Security and Public Pensions ; Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions ; Asymmetric and Private Information; Mechanism Design
• Thema: Flexible Altersgrenze ; Arbeitsangebot ; Sterblichkeit ; Adverse Selection ; Schätzung ; Theorie ; Deutschland

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Heidler, Matthias ; Raffelhüschen, Bernd ; Leifels, Arne
• Ereignis: Veröffentlichung
• (wer): Albert-Ludwigs-Universität Freiburg, Forschungszentrum Generationenverträge (FZG)
• (wo): Freiburg i. Br.
• (wann): 2006

Weitere Informationen

• Handle: http://hdl.handle.net/10419/38851
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ