TIME INCONSISTENCY AND DELAYED RETIREMENT DECISION: THE FRENCH PENSION BONUS

Steve Briand ()
Additional contact information
Steve Briand: LSAF - Laboratoire de Sciences Actuarielle et Financière - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon

Post-Print from HAL

Abstract: With the increase in life expectancy and demographic shocks, several public policies in the last decades aim to encourage individuals to postpone retirement. One of them, the pension bonus, gives an increased pension if individuals retire beyond their Full Retirement Age. Previous ex post analyses found that the responsiveness to this type of financial incentives, which encourage to postpone retirement, is heterogeneous among agents and that the global effect is rather limited. Deriving from previous research in Behavioural Economics, this article analyses the impact of time inconsistency in the decision to delay retirement to get the bonus. Using public national survey data, short-term and long-term impatience are measured with questions on retiring motivations. After controlling for the endogeneity of the bonus knowledge, econometric results show that time-inconsistent agents are less likely to retire with the bonus.

Date: 2018-06-11
New Economics Papers: this item is included in nep-age
Note: View the original document on HAL open archive server: https://hal.science/hal-02004085v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in CHAIRS DAYS: Insurance, Actuarial Science, Data and Models, Jun 2018, Paris, France

Downloads: (external link)
https://hal.science/hal-02004085v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02004085

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().