Social security reforms and early retirement

Hans Fehr (), Wenche Irén Sterkeby and Øystein Thøgersen

Journal of Population Economics, 2003, vol. 16, issue 2, 345-361

Abstract: Many reform proposals of the social security systems in various OECD economies suggest to scale down the non-actuarial parts of the pension systems. These reforms have a flavor of increased efficiency at the costs of welfare losses for low-income individuals. Assessing the economic effects, we investigate five different reform proposals by means of a numerical overlapping generations model for the Norwegian economy. The model features an endogenous retirement age and heterogeneous individuals within generations. It turns out that the various reforms, which scale down the public non-actuarial pension system, lead to increases in the retirement age and steady-state welfare gains for all income classes. Copyright Springer-Verlag Berlin Heidelberg 2003

Keywords: JEL classification: H55; H23; E62; Key words: Social security; induced retirement; pensions (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (25)

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Working Paper: Social Security Reforms and Early Retirement (2000)
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DOI: 10.1007/s001480200122

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