Retirement Expectations in the Aftermath of a Pension Reform

Noemi Oggero ()
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Noemi Oggero: University of Turin

Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, 2023, vol. 9, issue 1, No 12, 353-367

Abstract: Abstract In this paper we investigate the effects of a pension reform on workers’ retirement expectations. To assess whether individuals revise their expectations in the direction suggested by changes in legislation, we exploit the 2011 Italian pension reform. Using 2010 and 2012 data for a representative sample of the Italian population, we find that the reform worsened workers’ expectations on replacement rate. Yet, this is not consistent with the tightening of age requirements in a defined contribution context. One explanation is that workers may not be fully aware of the mechanism of a defined contribution pension system.

Keywords: Expectations; Pension reforms; Retirement; Information (search for similar items in EconPapers)
JEL-codes: D14 D84 H55 J26 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s40797-021-00179-8

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