Pension Reforms and Women Retirement Plans

29 Pages Posted: 25 Nov 2008

See all articles by Tito Boeri

Tito Boeri

Bocconi University - Department of Economics; Centre for Economic Policy Research (CEPR); IZA Institute of Labor Economics

Agar Brugiavini

Ca Foscari University of Venice - Dipartimento di Economia

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Abstract

We analyse the effects of pension reforms on the planned retirement age of women by exploiting within country variation in pension wealth across cohorts of workers in Italy after the Amato and Dini reforms of the early 1990s, which introduced a "Notionally Defined Contribution" (NDC) method for calculating pension benefits. The effect of the change in the pension regime on retirement decisions is affected by the presence of gaps in careers of women. Binding constraints related to eligibility to pensions indeed reduce the responsiveness of women to changes in pension rules. This explains why, contrary to a priori expectations, men are often found to be more reactive than women to changes in pension rules.

Keywords: pensions, social security wealth and accrual, gaps in careers

JEL Classification: J14, J16, J26

Suggested Citation

Boeri, Tito and Brugiavini, Agar, Pension Reforms and Women Retirement Plans. IZA Discussion Paper No. 3821, Available at SSRN: https://ssrn.com/abstract=1305805 or http://dx.doi.org/10.1111/j.0042-7092.2007.00700.x

Tito Boeri (Contact Author)

Bocconi University - Department of Economics ( email )

Via Gobbi 5
Milan, 20136
Italy

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany

Agar Brugiavini

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

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