The double dividend of postponing retirement
AbstractEarly retirement seems to plague social security systems in a number of European countries. In this paper we argue that delaying retirement may have two positive effects: it is likely to partially restore the financial balance of the system, and it may foster redistribution among retirees. To obtain such a double dividend, the benefit rule of the initial social security scheme must have the following two characteristics. First, it operates redistribution within generations. Second, it is "biased" and induces early retirement. Copyright 2003 by Kluwer Academic Publishers
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -1696.
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Note: In : International Tax and Public Finance, 10, 419-434, 2003.
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