Shattered Dreams: The Effects of Changing the Pension System Late in the Game
This paper assesses the impact of a dramatic reform of the Dutch pension system on mental health, savings behavior and retirement expectations of workers nearing retirement age. The reform means that public sector workers born on January 1, 1950 or later face a substantial reduction in their pension rights while workers born before this threshold date may still retire under the old, more generous rules. We employ a unique matched survey and administrative data set comprising male public sector workers born in 1949 and 1950 and find strong ex ante effects on mental health for workers who are affected by the reform. This effect increases as birth dates approach the threshold date. Furthermore, the effects differ in accordance with worker characteristics. Finally, we find that the response of those affected by the reform is to work longer and to save more.
(This abstract was borrowed from another version of this item.)
Volume (Year): 122 (2012)
Issue (Month): 559 (03)
|Contact details of provider:|| Postal: Office of the Secretary-General, Rm E35, The Bute Building, Westburn Lane, St Andrews, KY16 9TS, UK|
Phone: +44 1334 462479
Web page: http://www.res.org.uk/
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishers.co.uk/asp/journal.asp?ref=0013-0133|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Esteban Calvo & Kelly Haverstick & Steven A. Sass, 2007.
"What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?,"
Working Papers, Center for Retirement Research at Boston College
wp2007-18, Center for Retirement Research, revised Oct 2007.
- Calvo, Esteban & Haverstick, Kelly & Sass, Steven, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," MPRA Paper 5607, University Library of Munich, Germany.
- Dhaval Dave & Inas Rashad & Jasmina Spasojevic, 2006.
"The Effects of Retirement on Physical and Mental Health Outcomes,"
NBER Working Papers
12123, National Bureau of Economic Research, Inc.
- Dhaval Dave & R. Inas Rashad & Jasmina Spasojevic, 2008. "The Effects of Retirement on Physical and Mental Health Outcomes," Southern Economic Journal, Southern Economic Association, vol. 75(2), pages 497-523, October.
- Adeline Delavande & Susann Rohwedder, 2008. "Individuals’ Responses to Social Security Reform," Working Papers wp182, University of Michigan, Michigan Retirement Research Center.
- Douglas Staiger & James H. Stock, 1997.
"Instrumental Variables Regression with Weak Instruments,"
Econometric Society, vol. 65(3), pages 557-586, May.
- Douglas Staiger & James H. Stock, 1994. "Instrumental Variables Regression with Weak Instruments," NBER Technical Working Papers 0151, National Bureau of Economic Research, Inc.
- Tracy A. Falba & William T. Gallo & Jody L. Sindelar, 2008. "Work Expectations, Realizations, and Depression in Older Workers," NBER Working Papers 14435, National Bureau of Economic Research, Inc.
- Arie Kapteyn & Klaas de Vos, 1999.
"Social Security and Retirement in the Netherlands,"
in: Social Security and Retirement around the World, pages 269-303
National Bureau of Economic Research, Inc.
- Maarten Lindeboom & France Portrait & Gerard J. van den Berg, 2002.
"An econometric analysis of the mental-health effects of major events in the life of older individuals,"
John Wiley & Sons, Ltd., vol. 11(6), pages 505-520.
- Lindeboom, Maarten & Portrait, France & van den Berg, Gerard, 2002. "An econometric analysis of the mental-health effects of major events in the life of older individuals," Working Paper Series 2002:19, IFAU - Institute for Evaluation of Labour Market and Education Policy.
When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:122:y:2012:i:559:p:1-25. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.