Pensions for an Aging Population

Peter A. Diamond ()

No 11877, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: After presenting the Gruber-Wise analysis showing a strong effect on retirement of implicit taxes from pension rules, it is shown that there is no effect of these implicit taxes on unemployment. This supports the argument for avoiding high implicit taxes on continued work. Also discussed are methods for adjusting benefits and taxes for increases in life expectancy, with particular attention to increasing "the retirement age." Calculations are presented showing the decreases in benefits for an increase in the normal retirement age in the US and the years of service for a full benefit in France.

JEL-codes: H55 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-lab, nep-pbe and nep-pub
Date: 2005-12
Note: AG PE
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