The Retirement Effect of Old-age Pension and Early Retirement Schemes in OECD Countries

2005 ◽  
pp. 147-160 ◽  
Author(s):  
Keyword(s):  
Old Age ◽  
Early Retirement ◽  
Oecd Countries

Altersrenten und sozialer Ausgleich in Deutschland und Österreich – ein Vergleich anhand von Modellrechnungen

2021 ◽  
Vol 70 (99) ◽  
pp. 2-25
Author(s):  
Florian Blank ◽  
Erik Türk
Keyword(s):  
Old Age ◽  
Early Retirement ◽  
Ideal Type ◽  
Public Pension ◽  
Pension Insurance ◽  
Model Calculations ◽  
Pension Schemes ◽  
Old Age Pensions ◽  
Life Courses ◽  
Stable Employment

Die Gegenüberstellung der Rentenansprüche für einheitliche, idealtypische Biografien ermöglicht den Vergleich von Unterschieden der Rentensysteme selbst. Die von der OECD erstellten Modellbiografien mit durchgehenden Erwerbsverläufen, abschlagsfreiem Renteneintritt und stabilen Einkommenspositionen bilden den Ausgangspunkt für den Vergleich der Rentenversicherungen Deutschlands und Österreichs. Die Vorgehensweise der OECD wird dargestellt, sofern erforderlich korrigiert, aktualisiert und weiterentwickelt. Zusätzlich werden Arbeitslosigkeit, vorzeitiger Renteneintritt sowie Kindererziehungszeiten berücksichtigt. Durch diese Ergänzungen werden eine höhere Realitätsanbindung erreicht und Elemente des sozialen Ausgleichs einbezogen. Es zeigt sich, dass die österreichische Pensionsversicherung in jeder Konstellation deutlich höhere Leistungen gewährt, die Elemente des sozialen Ausgleichs den Abstand teils vergrößern, teils verringern. Abstract: Old-age Pensions and Social Equalization in Germany and Austria – a Comparison Using Model Calculations A comparison of pension entitlements based on ideal-type biographies allows for an identification of differences between pensions systems. We compare public pension schemes in Germany and Austria, starting with the OECD’s model biographies. These biographies are signified by stable employment careers and income positions, and regular retirement without deductions. The OECD’s approach is discussed, revised, updated, and amended. Periods of unemployment and childcare and early retirement are included. This leads to more realistic life courses and means an inclusion of redistributive measures. The Austrian pension insurance delivers higher benefits in every constellation discussed; redistributive elements partly increase, partly reduce differences.

scholarly journals RETIREMENT TIMING AND POST-RETIREMENT HEALTH: QUASI-EXPERIMENTAL EVIDENCE FROM DENMARK

2019 ◽  
Vol 3 (Supplement_1) ◽  
pp. S902-S902
Author(s):  
Jeevitha Y Qvist
Keyword(s):  
Old Age ◽  
Early Retirement ◽  
Causal Effect ◽  
Welfare States ◽  
Welfare Policies ◽  
Adverse Health Outcomes ◽  
Retirement Timing ◽  
Working Age ◽  
Quasi Experimental ◽  
The Government

Abstract A growing concern among policy makers in the European welfare states is that the proportion of the population in the working age has decreased over the last decades. In response to these demographic trends, many European countries have introduced reforms that roll back welfare policies that enables early retirement in order to sustain the current standards of living. However, scholars have voiced the concern that reforms which prevent early retirement could cause a rise in health inequality in old age because some people are not able to extend their working life. There are two contradictory views on post-retirement health. Retirement can either be seen as a kind of identity crisis, leading to less motivation to maintain health or retirement can be seen as a health preserving transition, enabling individuals to relieve stress and be more aware of their health. So far, empirical evidence on the effect of retirement timing on post-retirement health is inconclusive about the causal nature of this relationship. To estimate the causal effect of retirement timing on post-retirement health, this paper uses month of birth variation in incentives to postpone early retirement in the cohort born in 1939 that was created by a reform of the Danish retirement legislation, which the government introduced in 1999. The results suggest that people who retire at the age of 60 have more adverse health outcomes in old age than people who retire later, but this difference does not appear to be caused by differences in retirement timing.

Older adults’ integration in the labour market: a global view

2019 ◽  
pp. 1-19 ◽  
Author(s):  
Axel Börsch-Supan ◽  
Felizia Hanemann ◽  
Brian Beach ◽  
Didier Halimi ◽  
Susana Harding ◽  
...  
Keyword(s):  
Old Age ◽  
Early Retirement ◽  
Labour Force ◽  
Later Life ◽  
Labour Force Participation ◽  
Developed Countries ◽  
Older Employees ◽  
Part Time ◽  
The Impact ◽  
Country Specific

Abstract What governs labour force participation in later life and why is it so different across countries? Health and labour force participation in older ages are not strongly linked, but we observe a large variation across countries in old-age labour force participation. This points to the important role of country-specific regulations governing pension receipt and old-age labour force participation. In addition to the statutory eligibility age for a pension, such country-specific regulations include: earnings tests that limit the amount of earnings when pension benefits are received; the amount of benefit deductions for early retirement; the availability of part-time pensions before normal retirement; special regulations that permit early retirement for certain population groups; and either subsidies or extra costs for employers if they keep older employees in their labour force. This paper asks two questions: Can we link a relatively low labour force participation at ages 60–64 to country-specific regulations that make early retirement attractive? and Can we link a relatively high labour force participation at ages 65–74 to country-specific regulations that make late retirement attractive? To answer these questions, we compared the experiences in a set of developed countries around the world in order to understand better the impact of country-specific rules and laws on work and retirement behaviour at older ages and, by consequence, on the financial sustainability of pension systems.

Elephants on the move. Patterns of public pension reform in OECD countries

2000 ◽  
Vol 8 (3) ◽  
pp. 353-378 ◽  
Author(s):  
Karl Hinrichs
Keyword(s):  
Old Age ◽  
Social Insurance ◽  
Pension Reform ◽  
Universal Coverage ◽  
Oecd Countries ◽  
Public Pension ◽  
Occupational Pension ◽  
Old Age Security ◽  
Pension Schemes ◽  
The 1960S

Among OECD countries there are two clusters of old-age security systems: (1) ‘Social insurance’ countries had, by the end of the 1960s, fashioned the core of old-age security as public, contributory, earnings-related and unfunded insurance schemes; (2) a diverse collection of countries that, after 1970, topped up their basic pension arrangements with funded occupational pension schemes with (almost) universal coverage. ‘Social insurance’ countries, on which this essay focuses, reveal at least six common trends in pension reform, all about improving the financial sustainability of public schemes. Although the repertoire of incremental adjustment strategies is quite limited, policy changes since the early 1980s have not led to a clear convergence among ‘social insurance’ countries (or across the two clusters). Their original diversity has been somewhat diminished, but it has for the most part merely taken a different form. Public pension reforms regularly harmed (future) beneficiaries. Nevertheless, most reforms were actually based on broad political consensus. The success of attempts to introduce retrenchment policies depends on prior negotiation with – and support obtained from – collective actors above and beyond a simple parliamentary majority. This peculiar prerequisite ensures success in the sense of a sustained implementation of the measures taken and of actual improvement in public trust in ‘reliable’ pension schemes.

scholarly journals Die Auswirkungen bedarfsabhängiger Leistungen: Ergänzungsleistungen in der Schweiz

2012 ◽  
Vol 13 (3) ◽  
pp. 179-195
Author(s):  
Monika Bütler ◽  
Lukas Inderbitzin ◽  
Jonathan F. Schulz ◽  
Stefan Staubli
Keyword(s):  
Old Age ◽  
Early Retirement ◽  
Long Term Care ◽  
Disability Insurance ◽  
Disability Benefits ◽  
Term Care ◽  
Old Age Security ◽  
Lump Sum ◽  
Long Term Care Insurance

AbstractAs in many other countries, means tested benefits constitute an important part of the Swiss old age security system and disability insurance. In contrast to universal benefits, such targeted transfers are intended to only support the ones in need and thereby lead to low level of public expenses. However, individuals face strong incentives at various stages in life to adapt their behavior in order to become eligible. Using the Swiss Erg¨anzungsleistungen as an example, we argue that means tested benefits increase the incentive to apply for disability benefits, raise the attractiveness of early retirement, and induce individuals to favor a lump sum payment over an annuity. Moreover, they decrease the incentive to purchase private long-term care insurance.

Old-age insurance pension: employee retirement culture

2021 ◽  
pp. 214-222
Author(s):  
M.I. Averyanova
Keyword(s):  
Law Enforcement ◽  
Old Age ◽  
Early Retirement ◽  
Working Life ◽  
Length Of Service ◽  
The Past ◽  
Main Factors

The formation of pension rights to an old-age insurance pension is carried out during the entire working life of the employee (and this is usually three to four decades). The main factors that are important for the appointment of an old-age insurance pension, as well as for calculating its size, are still the length of service (for early retirement — professional) and the amount of earnings of the employee. In light of the fact that over the past decade, the rules of the pension legislation repeatedly substantially changed and when making the employees old-age pension (especially early), as evidenced by law enforcement practice, identified the problem of proving the employee's pension rights, the conclusion about the need to improve the pension culture of the employee is formulated.

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