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Microeconometric Analysis of the Retirement Decision: The Netherlands

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  • Maarten Lindeboom

Abstract

It has been suggested that much of the dramatic decline in the participation rate of Dutch elderly has been caused by features of the Dutch retirement income support system. The Dutch system consists of several alternative schemes that can be used to retire early and these schemes are characterised by relatively weak eligibility conditions and generous replacement rates. This report assesses empirically the impact of the incentives embedded in these schemes on the retirement behaviour of older workers using micro data. The econometric model is estimated on a rich panel survey, specifically designed for ageing research. The results indicate strong incentive effects from Early Retirement schemes on the probability to retire. We also find that Disability Insurance replacement rates have a negative effect on the transition rate to Early Retirement. Early retirement replacement rates also affect the transition rates of the other exit routes. This indicates that income streams of ... Il a été suggéré que la baisse spectaculaire du taux de participation des personnes âgées aux Pays-Bas s'expliquait essentiellement par des particularités du système de retraites néerlandais. Celui-ci offre une gamme d'options alternatives qui pourraient être utilisées pour prendre une retraite anticipée et qui sont caractèrisées par des conditions d'éligibilité relativement faibles et des taux de remplacement généreux. Ce rapport évalue de manière empirique l'ampleur des effets incitatifs des institutions néerlandaises sur le comportement vis-à-vis de la retraite en utilisant un modèle micro-économique. Ce modèle est estimé à partir d'une enquête de panel étoffée, spécialement conçue pour la recherche sur le vieillissement. Les résultats indiquent que les systèmes de retraite anticipés ont de forts effets incitatifs sur la probabilité de prendre sa retraite. Nous constatons également que les taux de remplacement de la pension d'invalidité ont un effet négatif sur le taux de ...

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 207.

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Date of creation: 24 Jun 1998
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Handle: RePEc:oec:ecoaaa:207-en

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Cited by:
  1. Rob Euwals & Daniel van Vuuren & Ronald Wolthoff, 2005. "Early retirement behaviour in the Netherlands; evidence from a policy reform," CPB Discussion Paper 52, CPB Netherlands Bureau for Economic Policy Analysis.
  2. Tomi Kyyrä & Ralf A. Wilke, 2006. "Reduction in the Long-Term Unemployment of the Elderly: A Success Story from Finland Revised," Discussion Papers 396, Government Institute for Economic Research Finland (VATT).
  3. Annemiek van Vuren & Daniel van Vuuren, 2005. "Financial incentives in disability insurance in the Netherlands," CPB Discussion Paper 45, CPB Netherlands Bureau for Economic Policy Analysis.
  4. Eva Mueller & Ralf A. Wilke & Philipp Zahn, 2007. "Beschäftigung und Arbeitslosigkeit aelterer Arbeitnehmer, Eine mikrooekonometrische Evaluation der Arbeitslosengeldreform von 1997," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 227(1), pages 65-86, February.
  5. Maes, Marjan, 2008. "poverty persistence among belgian elderly: true or spurious?," Working Papers 2008/10, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
  6. Maes, Marjan, 2008. "Does the dismantlement of early retirement schemes increase unemployment in Belgium?," Working Papers 2008/57, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
  7. Mauro Mastrogiacomo & Nicole Bosch, 2006. "Income incentives to labour participation and home production; the contribution of the tax credits in the Netherlands," CPB Discussion Paper 59, CPB Netherlands Bureau for Economic Policy Analysis.
  8. Polanec, Sašo & Ahčan, Aleš & Verbič, Miroslav, 2010. "Retirement Decisions in Transition: Microeconometric Evidence from Slovenia," MPRA Paper 28460, University Library of Munich, Germany.
  9. Tuulia Hakola & Roope Uusitalo, 2001. "Let's Make a Deal - the Impact of Social Security Provisions and Firm Liabilities on Early Retirement," Discussion Papers 260, Government Institute for Economic Research Finland (VATT).
  10. Mauro Mastrogiacomo & Rob Alessie & Maarten Lindeboom, 2004. "Retirement behaviour of Dutch elderly households," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(6), pages 777-793.
  11. Marjan, MAES, 2008. "Financial and redistributive impact of reforming the old-age pension system in Belgium," Discussion Papers (ECON - Département des Sciences Economiques) 2008040, Université catholique de Louvain, Département des Sciences Economiques.
  12. Marjan, MAES, 2008. "Poverty persistence among Belgian elderly in the transition from work to retirement : an empirical analysis," Discussion Papers (ECON - Département des Sciences Economiques) 2008042, Université catholique de Louvain, Département des Sciences Economiques.
  13. Jan H.M. Nelissen, 2002. "Early Retirement: The Impact of Changes in the Benefit Level," Tinbergen Institute Discussion Papers 02-031/3, Tinbergen Institute.
  14. Hans G. Bloemen, 2007. "The Impact of Wealth on Job Exit Rates of Elderly Workers," Tinbergen Institute Discussion Papers 07-002/3, Tinbergen Institute.

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