In Money, We Survive: The Effects of Social Security Retirement Income on Longevity

Hamid Noghanibehambari and Jason Fletcher

No 34199, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: An old and debated line of research examines the income-mortality relationship and finds mixed evidence. In this paper, we re-evaluate previous studies using a new dataset and implementing a difference-in-difference model based on a Notch in Social Security retirement benefits to overcome selection and endogeneity issues. We employ Social Security Administration death records and find a positive income-longevity relationship. Moreover, we find more pronounced effects among low-educated individuals and people from low socioeconomic status families. Analyses using census data suggest that part of the reductions in retirement income are offset by wage income due to post-retirement labor force participation. Past age 80, the net adverse effects of the policy on both income and longevity become more pronounced.

JEL-codes: H40 H50 I1 I18 J1 (search for similar items in EconPapers)
Date: 2025-09
New Economics Papers: this item is included in nep-age, nep-hea, nep-inv, nep-lab and nep-pbe
Note: AG DAE EH PE
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