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Age Anchors and the Expected Retirement Age: An Experimental Study

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  • Niels Vermeer

    (Dutch Ministry of Finance, Netspar)

Abstract

This study examines the sensitivity of the expected retirement age to standard retirement ages in pension overviews (age anchors) via a survey. The results show that individuals expect to retire later when they are confronted with a higher age anchor. The effect of the age anchor on the expected retirement age is driven by women. At the same time, the null hypothesis that the age anchors do not have an effect on the expected retirement age of males cannot be rejected. Interestingly, different socioeconomic subgroups of women are all sensitive to age anchors. A salient age anchor (coinciding with a current or future statutory retirement age) appears to elicit a stronger effect on the expected retirement age than non-salient age anchors.

Suggested Citation

  • Niels Vermeer, 2016. "Age Anchors and the Expected Retirement Age: An Experimental Study," De Economist, Springer, vol. 164(3), pages 255-279, September.
    • Handle: RePEc:kap:decono:v:164:y:2016:i:3:d:10.1007_s10645-016-9276-1
    DOI: 10.1007/s10645-016-9276-1
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    Cited by:

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    2. NAGORE GARCIA Amparo & ROSSI Cristina & VAN SOEST Arthur, 2018. "Labour Market Decisions of the Self-Employed in the Netherlands at the Statutory Retirement Age," LISER Working Paper Series 2018-13, Luxembourg Institute of Socio-Economic Research (LISER).
    3. Tomasz Jedynak, 2022. "Does the Formulation of the Decision Problem Affect Retirement?—Framing Effect and Planned Retirement Age," IJERPH, MDPI, vol. 19(4), pages 1-30, February.
    4. Tomasz Jedynak, 2019. "The determinants of effective retirement age ? a cross-country analysis," Proceedings of Economics and Finance Conferences 8911262, International Institute of Social and Economic Sciences.
    5. Nagore García, Amparo & van Soest, Arthur, 2022. "Joint retirement behaviour and pension reform in the Netherlands," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).

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    More about this item

    Keywords

    Retirement; Labor supply; Behavioral economics;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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