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Early Social Security Claiming and Old-Age Poverty: Evidence from the Introduction of the Social Security Early Eligibility Age

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  • Gary V. Engelhardt
  • Jonathan Gruber
  • Anil Kumar

Abstract

We estimate the impact of the Social Security early entitlement age (EEA) on later-life income, poverty, and mortality by tracing birth cohorts of men who had access to different potential claiming ages from the Social Security Amendments of 1961, which introduced age 62 as the EEA. Based on 1968–2001 Current Population Survey data, the average claiming age fell by 1.4 years, and Social Security income fell for male-headed families by 2.4 percent at the mean and 6 percent at the 25th percentile. Total family income fell, and the poverty rate rose by about one percentage point. Finally, mortality rates fell modestly in retirement.

Suggested Citation

  • Gary V. Engelhardt & Jonathan Gruber & Anil Kumar, 2022. "Early Social Security Claiming and Old-Age Poverty: Evidence from the Introduction of the Social Security Early Eligibility Age," Journal of Human Resources, University of Wisconsin Press, vol. 57(4), pages 1079-1106.
    • Handle: RePEc:uwp:jhriss:v:57:y:2022:i:4:p:1079-1106
    Note: DOI: 10.3368/jhr.57.4.0119-9973R1
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    File URL: http://jhr.uwpress.org/cgi/reprint/57/4/1079
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    Cited by:

    1. Morrill, Melinda Sandler & Westall, John, 2019. "Social security and retirement timing: evidence from a national sample of teachers," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(4), pages 549-564, October.
    2. Jose Valderrama & Javier Olivera, 2023. "The effects of social pensions on mortality among the extreme poor elderly," LISER Working Paper Series 2023-05, Luxembourg Institute of Socio-Economic Research (LISER).

    More about this item

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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