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Rewards to Continued Work: The Economic Incentives For Postponing Retirement

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Author Info
Olivia S. Mitchell
Gary S. Fields

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Abstract

Using a new data file on pay and pensions, this paper presents and discusses new empirical evidence on how olde rworkers' income opportunities change as they age. It also develops a detailed description of private pension structures and the ways in which pensions reward deferred retirement. The data imply that the present discounted value of total lifetime income rises when people postpone retirement, but the size of the income increment varies with age. The data also show that some pension plans encourage early retirement while others penalize it.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 1204.

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Date of creation: Sep 1983
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Handle: RePEc:nbr:nberwo:1204

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  1. Olivia S. Mitchell & Gary S. Fields, 1981. "The Effects of Pensions and Earnings on Retirement: A Review Essay," NBER Working Papers 0772, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Olivia S. Mitchell & Gary S. Fields, 1983. "The Economics of Retirement Behavior," NBER Working Papers 1128, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Hall, Robert E, 1982. "The Importance of Lifetime Jobs in the U.S. Economy," American Economic Review, American Economic Association, vol. 72(4), pages 716-24, September. [Downloadable!] (restricted)
  4. Gordon, Roger H. & Blinder, Alan S., 1980. "Market wages, reservation wages, and retirement decisions," Journal of Public Economics, Elsevier, vol. 14(2), pages 277-308, October. [Downloadable!] (restricted)
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  5. Gary S. Fields & Olivia S. Mitchell, 1984. "The Effects of Social Security Reforms on Retirement Ages and RetirementIncomes," NBER Working Papers 1348, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Gary S. Fields & Olivia S. Mitchell, 1982. "Economic Determinants of the Optimal Retirement Age: An Empirical Investigation," NBER Working Papers 0876, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-18.

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