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Erscheinungsjahr: 
2026
Schriftenreihe/Nr.: 
CESifo Working Paper No. 12386
Verlag: 
Munich Society for the Promotion of Economic Research - CESifo GmbH, Munich
Zusammenfassung: 
We analyze how pension wealth influences retirement timing using 25 years of Danish administrative panel data on wealth and labor market status. Exploiting early-career variation in firm-specific mandatory pension contribution rates, we study labor supply decisions from age 55 onward. Greater pension wealth accelerates labor market exit: at age 63, the elasticity is about 0.3 — an additional 100,000 DKK (15,000 USD) at age 55 reduces earnings by 1% at age 63. Effects intensify near statutory retirement age, driven by self-support and early occupational pension withdrawals. Mandatory savings raise retirement wealth but induce earlier exit, underscoring key behavioral responses for pension policy design.
Schlagwörter: 
pension wealth
retirement
labor supply
mandated savings
JEL: 
J32
J26
J22
D14
Dokumentart: 
Working Paper
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