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Title:Why forcing people to save for retirement may backfire PDF Logo
Authors:Buetler, Monika
Huguenin, Olivia
Teppa, Federica
Issue Date:2005
Series/Report no.:CESifo working papers 1458
Abstract:If individuals are unable or unwilling to borrow, a higher than desired second pillar pension capital may induce people to retire earlier than they would have in the absence of such a scheme. Individuals thus leave the workforce as soon as the retirement income is deemed sufficient and the pension plan avails withdrawal of benefits. We provide evidence using individual data from a selection of Swiss pension funds, allowing us to perfectly control for pension scheme details. Our findings suggest that affordability is a key determinant in the retirement decisions. The higher the accumulated pension capital, the earlier individuals tend to leave the workforce.
Subjects:occupational pension
retirement decision
duration models
JEL:H31
D91
J26
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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