Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/18822 
Year of Publication: 
2005
Series/Report no.: 
CESifo Working Paper No. 1458
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
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
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