scholarly journals Older peoples' willingness to delay social security claiming

2020 ◽  
pp. 1-16
Author(s):  
Raimond Maurer ◽  
Olivia S. Mitchell
Keyword(s):  
Social Security ◽  
Older Persons ◽  
Current System ◽  
Work Requirement ◽  
Lump Sum ◽  
Average Household Income ◽  
Time Work ◽  
Part Time ◽  
Social Security Benefits ◽  
Retirement Study

Abstract We have designed and implemented an experimental module in the 2014 Health and Retirement Study to measure older persons' willingness to defer claiming of Social Security benefits. Under the current system’ status quo where delaying claiming boosts eventual benefits, we show that 46% of the respondents would delay claiming and work longer. If respondents were instead offered an actuarially fair lump sum payment instead of higher lifelong benefits, about 56% indicate they would delay claiming. Without a work requirement, the average amount needed to induce delayed claiming is only $60,400, while when part-time work is stipulated, the amount is slightly higher, $66,700. This small difference implies a low utility value of leisure foregone, of under 20% of average household income.

scholarly journals The National Commission On Fiscal Responsibility And Reform: How Its Report Can Impact Marginal Tax Rates

2011 ◽  
Vol 9 (6) ◽  
pp. 25
Author(s):  
Steven R. Ferraro ◽  
Richard W. Powell
Keyword(s):  
Social Security ◽  
The United States ◽  
United States Government ◽  
National Commission ◽  
Tax Rates ◽  
Partial Loss ◽  
Fiscal Responsibility ◽  
Lump Sum ◽  
Marginal Tax Rates ◽  
Social Security Benefits

The United States government has a serious budget problem. In 2010 President Barack Obama created the National Commission on Fiscal Responsibility and Reform to deal with the problem by identifying policies to improve the fiscal situation. Among the Commissions recommendations was a proposal to modify payments under Social Security. For most recipients, the modifications would decrease Social Security benefits although benefits would increase for the poorest quintile of recipients. The purpose of this paper is to construct a model for evaluating the proposed shift in Social Security payments. From the perspective of Social Security recipients, the model shows the cutbacks as the partial loss of an annuity stream, as the loss of a lump sum that is capable of generating the partial annuity stream, and as a tax increase for the remainder of the recipients working years as they deposit a special tax into a retirement account designed to replace the lost benefits.

Late Career Job Loss and Retirement Behavior of Couples

2016 ◽  
Vol 39 (1) ◽  
pp. 7-28 ◽  
Author(s):  
Ajin Lee
Keyword(s):  
Social Security ◽  
Job Loss ◽  
Health And Retirement Study ◽  
Budget Constraints ◽  
Unexpected Earnings ◽  
Retirement Behavior ◽  
Using Data ◽  
Social Security Benefits ◽  
The Impact ◽  
Retirement Study

This article argues that wealth uncertainty influences when couples choose to retire. Using data from the Health and Retirement Study, I show that wives delay retirement when their husbands retire following a job loss. This effect is stronger when husbands are the primary earners, and couples are relatively poorer. This provides evidence of intra-household insurance that mitigates the impact of an unexpected earnings shock. I find that wives tend to delay retirement only until they become eligible for social security. This suggests that social security benefits can relax households’ budget constraints and allow wives to join their husbands in retirement.

In Debt and Approaching Retirement: Claim Social Security or Work Longer?

2018 ◽  
Vol 108 ◽  
pp. 401-406 ◽  
Author(s):  
Barbara A. Butrica ◽  
Nadia S. Karamcheva
Keyword(s):  
Older Adults ◽  
Social Security ◽  
Labor Force ◽  
Social Security Benefit ◽  
Older Americans ◽  
The Past ◽  
Using Data ◽  
Social Security Benefits ◽  
To Receive ◽  
Retirement Study

Over the past couple of decades, older Americans have become considerably more leveraged. This paper considers whether household debt affects the timing of retirement and Social Security benefit claiming. Using data from the Health and Retirement Study, we find that older adults with debt are more likely to work and less likely to receive Social Security benefits than those who are debt-free. Indebted adults are also more likely to delay fully retiring from the labor force and claiming their benefits. Among the sources of debt, mortgages have a stronger impact on older adults' behavior than do other sources of debt.

scholarly journals Perlindungan Hukum bagi Pekerja Paruh Waktu dalam Keselamatan dan Kesehatan Melalui Program Jaminan Sosial Tenaga Kerja

2021 ◽  
Vol 2 (2) ◽  
pp. 406-411
Author(s):  
I Kadek Surya Juliarnawa ◽  
I Puru Gede Seputra ◽  
Ni Made Puspasutari Ujianti
Keyword(s):  
Social Security ◽  
Health And Safety ◽  
Legal Protection ◽  
Operating Costs ◽  
Legal Basis ◽  
Time Work ◽  
Part Time ◽  
The Republic ◽  
Case Part ◽  
The Right

Nowadayas, the increasing of economic growth requires individuals to try to make ends meet. The employment relationship between the business owner and his workers is regulated in a work agreement. In the current covid-19 pandemic, many companies are implementing part-time work to reduce company operating costs. This research examines two main problems, namely the regulation of health and safety laws for certain time workers, and legal protection of social security for certain time workers. Normative legal research is used in this research by examining problems based on the applicable legal basis in the form of statutory regulations and supported by theories from experts. The results showed that the legal basis regarding health and safety for part-time workers is regulated in Article 99 paragraph (1) of Law no. 23 of 2003 concerning Employment which regulates that every worker and his family has the right to obtain employment social security. Then, employment social security is regulated in Law no. 40 of 2004 concerning the National Social Security System (SJSN) and Law no. 24 of 2011 concerning BPJS. The implementation of social security is based on simultaneous efforts that are family and mutual in nature according to the mandate of the Pancasila and the 1945 Constitution of the Republic of Indonesia. Based on the research results, it can be concluded that in this case part-time workers do not really understand the protection of their rights as workers within a certain period of time.  For this reason, this regulation on the protection of workers should be further disseminated to workers and business actors so that workers can obtain their rights in accordance with applicable regulations.  

Social security and the choice between full-time work, part-time work and retirement

1980 ◽  
Vol 14 (2) ◽  
pp. 245-276 ◽  
Author(s):  
A. Zabalza ◽  
C. Pissarides ◽  
M. Barton
Keyword(s):  
Social Security ◽  
Full Time ◽  
Time Work ◽  
Part Time ◽  
Part Time Work
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