Public Pension Benefits Claiming Behavior: New evidence from the Japanese Study on Aging and Retirement

Satoshi Shimizutani and Takashi Oshio

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: This paper explores the public pension claiming behavior of the Japanese. First, we perform financial simulations and estimate the expected utility, depicting the typical patterns of pension benefits in a lifecycle model. We show that the optimal retirement age depends on the beneficiaries' mortality risk, discount rate, initial wealth, and risk attitude. Second, we use individual-level data from the Japanese Study on Aging and Retirement to examine empirically the determinants of the take-up timing. We find supportive evidence that most of the factors examined in the simulation are indeed significantly associated with early claiming of pension benefits for wage earners.

Pages: 33 pages
Date: 2012-10
New Economics Papers: this item is included in nep-age, nep-dem and nep-upt
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Citations: View citations in EconPapers (4)

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https://www.rieti.go.jp/jp/publications/dp/12e068.pdf (application/pdf)

Related works:
Journal Article: Public Pension Benefits Claiming Behaviour: new Evidence from the Japanese Study on Ageing and Retirement (2016)
Journal Article: Public Pension Benefits Claiming Behaviour: new Evidence from the Japanese Study on Ageing and Retirement (2016)
Working Paper: Public Pension Benefits Claiming Behavior: New Evidence from the Japanese Study on Aging and Retirement (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:12068

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