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The Pension Acceptance Decision of Older Workers

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  • Richard V. Burkhauser

Abstract

This study focuses on factors related to an older worker's decision to accept a pension and on how this influences subsequent market work. A life-cycle model is used which emphasizes the asset nature of the pension decision and in particular includes changes in potential earnings streams due to the work restrictions imposed by a pension. The empirical results show that the timing of acceptance of a pension depends upon the actuarial value of the plan at different ages, not on payments in any one year. While health affects the pension decision, voluntary economic decision variables play a major role in the timing of pension acceptance for both the healthy and those in ill health.

Suggested Citation

  • Richard V. Burkhauser, 1979. "The Pension Acceptance Decision of Older Workers," Journal of Human Resources, University of Wisconsin Press, vol. 14(1), pages 63-75.
  • Handle: RePEc:uwp:jhriss:v:14:y:1979:i:1:p:63-75
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