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Life expectancy and claiming behavior in a flexible pension system

Dennis Fredriksen (dff@ssb.no), Christian Brinch and Ola Vestad
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Dennis Fredriksen: Statistics Norway, https://www.ssb.no/en/forskning/ansatte

Discussion Papers from Statistics Norway, Research Department

Abstract: We study the relationship between early claiming of pensions and incentives in the highly flexible Norwegian public pension system, measuring incentives to claim based on an estimated model for expected longevity. Despite a strong correlation between incentives and claiming decisions, the additional costs to public budgets arising from this selection turn out to be modest. Based on analyses exploiting only variation in expected pensions generated by variation in parental longevities and only claiming of pensions not in conjunction with retirement, we conclude that part of the selection is active: Some individuals claim pensions early because they gain from doing so.

Keywords: social security; pension benefits; retirement; annuity (search for similar items in EconPapers)
JEL-codes: H55 J14 J26 (search for similar items in EconPapers)
Pages: 54 pages
Date: 2017-05
New Economics Papers: this item is included in nep-age and nep-pbe
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Journal Article: Life Expectancy and Claiming Behavior in a Flexible Pension System (2018) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ssb:dispap:859

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