Social Security's Delayed Retirement Credit and the Labor Supply of Older Men
29 Pages Posted: 12 Dec 2006
Date Written: October 2006
Abstract
This paper presents estimates of the impact of Social Security's Delayed Retirement Credit on the employment rates of older men. The credit raises lifetime social security benefit payments for recipients who delay receiving benefits after age 65 and offers a rare and important test of whether labor supply incentives built in to the program can promote work at older ages. The results suggest that the increased incentives raised employment among workers over age 65. In addition, the recent increases in social security's Normal Retirement Age also appear to be pushing up labor supply.
Keywords: Social security, labor supply, aging, retirement
JEL Classification: J2, H55
Suggested Citation: Suggested Citation
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