Public Pension Benefits Claiming Behavior: New Evidence from the Japanese Study on Aging and Retirement
Satoshi Shimizutani,
諭 清水谷,
Takashi Oshio and
隆士 小塩
No 573, CIS Discussion paper series from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University
Abstract:
This paper explores the public pension claiming behavior of the Japanese. First, we perform financial simulations and estimate the expected utility, depicting the typical patterns of pension benefits over a life cycle. We show that the optimal retirement age depends on the beneficiaries’ mortality risk, discount rate, initial wealth, and risk attitude. Second, we use individual-level data from the Japanese Study on Aging and Retirement to examine empirically the determinants of the take-up timing. We find supportive evidence that most of the factors examined in the simulation are indeed significantly associated with early claiming of pension benefits for wage earners.
Keywords: Claiming behavior; Pension benefit; Survival probability; Risk attitude; Japanese Study on Aging and Retirement (search for similar items in EconPapers)
JEL-codes: H55 J26 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2012-10
New Economics Papers: this item is included in nep-age, nep-cmp, nep-dem and nep-pub
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Citations: View citations in EconPapers (5)
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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/23240/cis_dp573.pdf
Related works:
Journal Article: Public Pension Benefits Claiming Behaviour: new Evidence from the Japanese Study on Ageing and Retirement (2016) 
Journal Article: Public Pension Benefits Claiming Behaviour: new Evidence from the Japanese Study on Ageing and Retirement (2016) 
Working Paper: Public Pension Benefits Claiming Behavior: New evidence from the Japanese Study on Aging and Retirement (2012) 
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Persistent link: https://EconPapers.repec.org/RePEc:hit:cisdps:573
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