Get 20M+ Full-Text Papers For Less Than $1.50/day. Subscribe now for You or Your Team.

Learn More →

The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries

The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries RESUMÉ The retirement effects of old-age pension systems and other social transfer programmes in OECD countries This paper examines the impact of old-age pension systems and other social transfer programmes on the retirement decision of older males in OECD countries. For each of the 55-59, 60-64 and 65+ age groups, a new panel dataset (22 OECD countries over 1969-1999 or shorter periods in some cases) of retirement incentives embedded in those smes is constructed for an illustrative worker. The main focus is on the implicit tax rate on working for five more years, which sums up various dimensions of retirement incentives such as the pension accrual rate but also, to a lesser extent, the availability and generosity of benefits. There is currently wide dispersion across OECD countries in implicit tax rates on continued work embedded in old-age pension and early retirement smes: they are high in most Continental European Countries, compared with Japan, Korea, English-speaking and dic countries. Simple cross-country correlations and panel data econometric estimates both show that implicit taxes on continued work have sizeable effects on the departure of older male workers from the labour force. For the 55-59 age group, there is clear evidence that http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png OECD Economics Department Working Papers The Organisation for Economic Co-operation and Development (OECD)

The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries

The Organisation for Economic Co-operation and Development (OECD) — Nov 25, 2003

Loading next page...
 
/lp/the-organisation-for-economic-co-operation-and-development-oecd/the-retirement-effects-of-old-age-pension-and-early-retirement-schemes-l3t72aUcfa

References (34)

Datasource
The Organisation for Economic Co-operation and Development (OECD)
Copyright
Copyright © OECD Publishing
Publisher site
See Article on Publisher Site

Abstract

RESUMÉ The retirement effects of old-age pension systems and other social transfer programmes in OECD countries This paper examines the impact of old-age pension systems and other social transfer programmes on the retirement decision of older males in OECD countries. For each of the 55-59, 60-64 and 65+ age groups, a new panel dataset (22 OECD countries over 1969-1999 or shorter periods in some cases) of retirement incentives embedded in those smes is constructed for an illustrative worker. The main focus is on the implicit tax rate on working for five more years, which sums up various dimensions of retirement incentives such as the pension accrual rate but also, to a lesser extent, the availability and generosity of benefits. There is currently wide dispersion across OECD countries in implicit tax rates on continued work embedded in old-age pension and early retirement smes: they are high in most Continental European Countries, compared with Japan, Korea, English-speaking and dic countries. Simple cross-country correlations and panel data econometric estimates both show that implicit taxes on continued work have sizeable effects on the departure of older male workers from the labour force. For the 55-59 age group, there is clear evidence that

Journal

OECD Economics Department Working PapersThe Organisation for Economic Co-operation and Development (OECD)

Published: Nov 25, 2003

There are no references for this article.