Age Anchors and the Expected Retirement Age: An Experimental Study

Niels Vermeer ()
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Niels Vermeer: Dutch Ministry of Finance, Netspar

De Economist, 2016, vol. 164, issue 3, No 2, 255-279

Abstract: Abstract This study examines the sensitivity of the expected retirement age to standard retirement ages in pension overviews (age anchors) via a survey. The results show that individuals expect to retire later when they are confronted with a higher age anchor. The effect of the age anchor on the expected retirement age is driven by women. At the same time, the null hypothesis that the age anchors do not have an effect on the expected retirement age of males cannot be rejected. Interestingly, different socioeconomic subgroups of women are all sensitive to age anchors. A salient age anchor (coinciding with a current or future statutory retirement age) appears to elicit a stronger effect on the expected retirement age than non-salient age anchors.

Keywords: Retirement; Labor supply; Behavioral economics (search for similar items in EconPapers)
JEL-codes: D03 J26 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s10645-016-9276-1

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