The Double Dividend of Postponing Retirement

Helmuth Cremer and Pierre Pestieau

International Tax and Public Finance, 2003, vol. 10, issue 4, 419-34

Abstract: Early retirement seems to plague social security systems in a number of European countries. In this paper we argue that delaying retirement may have two positive effects: it is likely to partially restore the financial balance of the system, and it may foster redistribution among retirees. To obtain such a double dividend, the benefit rule of the initial social security scheme must have the following two characteristics. First, it operates redistribution within generations. Second, it is "biased" and induces early retirement. Copyright 2003 by Kluwer Academic Publishers

Date: 2003
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Working Paper: The double dividend of postponing retirement (2003)
Working Paper: The Double Dividend of Postponing Retirement (2003)
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