Social Security's Delayed Retirement Credit and the Labor Supply of Older Men

29 Pages Posted: 12 Dec 2006

See all articles by Jonathan F. Pingle

Jonathan F. Pingle

Board of Governors of the Federal Reserve

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

Pingle, Jonathan F., Social Security's Delayed Retirement Credit and the Labor Supply of Older Men (October 2006). FEDS Working Paper No. 2006-37, Available at SSRN: https://ssrn.com/abstract=951209 or http://dx.doi.org/10.2139/ssrn.951209

Jonathan F. Pingle (Contact Author)

Board of Governors of the Federal Reserve

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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