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Early Retirement Policy in the Presence of Competing Exit Pathways: Evidence from Pension Reforms in Finland

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  • Tomi Kyyrä

Abstract

type="main" xml:id="ecca12100-abs-0001" xml:lang="en"> I study the effects of changes in the eligibility age thresholds for unemployment and part-time pensions, and the effect of tightening medical criteria for disability pension eligibility in Finland. Particular attention is paid to the spillover effects of the pension reforms. These pension reforms jointly raised the average age at which workers leave employment by 3.9 months, mainly due to a sharp drop in disability pension enrolment from age 58 upwards and a lower incidence of unemployment at younger ages. These effects are heterogeneous, much of which is attributable to the spillover effects that vary across individuals.

Suggested Citation

  • Tomi Kyyrä, 2015. "Early Retirement Policy in the Presence of Competing Exit Pathways: Evidence from Pension Reforms in Finland," Economica, London School of Economics and Political Science, vol. 82(325), pages 46-78, January.
    • Handle: RePEc:bla:econom:v:82:y:2015:i:325:p:46-78
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    File URL: http://hdl.handle.net/10.1111/ecca.2014.82.issue-325
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    Cited by:

    1. Terhi Ravaska, 2023. "Do reduced working hours for older workers have health consequences and prolong work careers?," Working Papers 6, Finnish Centre of Excellence in Tax Systems Research.
    2. Kyyrä, Tomi & Pesola, Hanna, 2020. "Long-term effects of extended unemployment benefits for older workers," Labour Economics, Elsevier, vol. 62(C).
    3. Agar Brugiavini & Petru Crudu, 2023. "The Role of Disability Insurance on the Labour Market Trajectories of Europeans," Working Papers 2023:20, Department of Economics, University of Venice "Ca' Foscari".
    4. Aart‐Jan Riekhoff & Kati Kuitto & Liisa‐Maria Palomäki, 2020. "Substitution and spill‐overs between early exit pathways in times of extending working lives in Europe," International Social Security Review, John Wiley & Sons, vol. 73(2), pages 27-50, April.
    5. Ravaska, Terhi, 2023. "Do reduced working hours for older workers have health consequences and prolong work careers?," Working Papers 153, VATT Institute for Economic Research.
    6. Yashiro, Naomitsu & Kyyrä, Tomi & Hwang, Hyunjeong & Tuomala, Juha, 2020. "Technology, Labour Market Institutions and Early Retirement: Evidence from Finland," IZA Discussion Papers 13990, Institute of Labor Economics (IZA).
    7. Kyyrä, Tomi & Pesola, Hanna & Rissanen, Aarne, 2017. "Unemployment Insurance in Finland: A Review of Recent Changes and Empirical Evidence on Behavioral Responses," Research Reports 184, VATT Institute for Economic Research.
    8. Kanabar, Ricky & Nivalainen, Satu & Järnefelt, Noora, 2023. "‘Relabelling’ of individual retirement pension in Finland: application and behavioural responses using Finnish register data," ISER Working Paper Series 2023-05, Institute for Social and Economic Research.

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