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Impacts from Delaying Access to Retirement Benefits on Welfare Receipt and Expenditure: Evidence from a Natural Experiment

Umut Oguzoglu (), Cain Polidano () and Ha Vu ()

No 10014, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Governments are responding to fiscal pressures associated with aging populations by increasing the eligibility age for publicly-funded retirement benefits. However, recent studies show large resulting increases in the receipt of alternative payments, which raises concern that welfare savings are offset by increased inflows into alternative payments. Using administrative data to examine the impacts of female eligibility age increases in Australia, we find little evidence of this. Instead, most of the increase in receipt is because the delay mechanically extends the receipt time of people already on alternative payments. The implication is that fiscal savings are not being jeopardized by opportunistic behaviour.

Keywords: welfare substitution; retirement; aging population (search for similar items in EconPapers)
JEL-codes: H53 J26 J01 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-pbe
Date: 2016-06
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