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The Role of Pension Systems in Retirement across Development

Author

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  • Bosch, Mariano
  • Rojas Valero, Paola Nelly

Abstract

Using census microdata from 78 countries, we study how pension systems shape labor supply at older ages. While male employment rates are similar in midlife, they diverge sharply later in life: by age 75, 54% of men remain employed in low-income countries compared with 8% in high-income ones, with even larger gaps among those with lower education. Patterns for women are similar. Exploiting variation in retirement ages and pension coverage, we find that a 10-percentage-point increase in coverage reduces post-retirement employment by 2.1 percentage points. Limited pension access keeps many lower educated workers from retiring, driving global disparities in late-life employment.

Suggested Citation

  • Bosch, Mariano & Rojas Valero, Paola Nelly, 2026. "The Role of Pension Systems in Retirement across Development," IDB Publications (Working Papers) 14576, Inter-American Development Bank.
    • Handle: RePEc:idb:brikps:14576
    DOI: http://dx.doi.org/10.18235/0014017
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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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