The Effects of the Early Retirement Age on Retirement Decisions

Andrea Weber and Dayanand Manoli

No 11491, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We present quasi-experimental evidence on the effects of increasing the Early Retirement Age (ERA) on older workers' retirement decisions. The analysis is based on social security reforms in Austria in 2000 and 2004, and administrative data allows us to distinguish between pension claims and job exits. Using a Regression Kink Design, we estimate that, within a birth cohort, a 1.0 year increase in the ERA leads to a 0.4 year increase in the average job exiting age and a 0.5 year increase in the average pension claiming age. When the ERA increases, many older workers remain in their jobs longer.

Keywords: Early retirement age; Pension reform; Regression kink design (search for similar items in EconPapers)
JEL-codes: H55 J22 J26 (search for similar items in EconPapers)
Date: 2016-09
New Economics Papers: this item is included in nep-age, nep-dem, nep-eur and nep-pbe
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Citations: View citations in EconPapers (55)

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Working Paper: The Effects of the Early Retirement Age on Retirement Decisions (2016)
Working Paper: The Effects of the Early Retirement Age on Retirement Decisions (2016)
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