New Evidence on Pensions, Social Security, and the Timing of Retirement

57 Pages Posted: 14 Aug 2012

See all articles by Andrew A. Samwick

Andrew A. Samwick

Dartmouth College - Department of Economics; National Bureau of Economic Research (NBER)

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Date Written: April 1998

Abstract

Using a unique dataset that links the economic and demographic information of households with the details of their pension formulas, I estimate the combined effect of Social Security and pension benefits on the probability of retirement in a cross-section of the population near retirement age. The accrual rate of retirement wealth is shown to be a significant determinant of the probability of retirement. Simulations of extensions in pension coverage comparable to those that occurred in the early postwar period can account for one fourth of the contemporaneous decline in labor force participation rates.

Suggested Citation

Samwick, Andrew A., New Evidence on Pensions, Social Security, and the Timing of Retirement (April 1998). NBER Working Paper No. w6534. Available at SSRN: https://ssrn.com/abstract=161439

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