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Pension Reforms and Women Retirement Plans

Author

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  • Boeri, Tito

    (Bocconi University)

  • Brugiavini, Agar

    (Università Ca’ Foscari di Venezia)

Abstract

We analyse the effects of pension reforms on the planned retirement age of women by exploiting within country variation in pension wealth across cohorts of workers in Italy after the Amato and Dini reforms of the early 1990s, which introduced a "Notionally Defined Contribution" (NDC) method for calculating pension benefits. The effect of the change in the pension regime on retirement decisions is affected by the presence of gaps in careers of women. Binding constraints related to eligibility to pensions indeed reduce the responsiveness of women to changes in pension rules. This explains why, contrary to a priori expectations, men are often found to be more reactive than women to changes in pension rules.

Suggested Citation

  • Boeri, Tito & Brugiavini, Agar, 2008. "Pension Reforms and Women Retirement Plans," IZA Discussion Papers 3821, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp3821
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    Cited by:

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    2. Sílvia Garcia-Mandicó & Sergi Jiménez-Martín, 2020. "Spillovers in pension incentives and the joint retirement behavior of Spanish couples," Working Papers 2020-13, FEDEA.
    3. Agar Brugiavini & Petru Crudu, 2023. "The Role of Disability Insurance on the Labour Market Trajectories of Europeans," Working Papers 2023:20, Department of Economics, University of Venice "Ca' Foscari".
    4. Hernik Joanna & Sagan Adam, 2023. "An Attempt to Measure and Model Women’s Attitudes to Saving for Retirement," Folia Oeconomica Stetinensia, Sciendo, vol. 23(1), pages 84-106, June.
    5. Barrett, Alan & Mosca, Irene, 2012. "Announcing an Increase in the State Pension Age and the Recession: Which Mattered More for Expected Retirement Ages?," IZA Discussion Papers 6325, Institute of Labor Economics (IZA).
    6. Marcella Corsi; Carlo D’Ippoliti, 2016. "Le pensioni tra efficienza economica e giustizia sociale: un connubio possibile (The pensions system between economic efficiency and social justice: A possible mix)," Moneta e Credito, Economia civile, vol. 69(274), pages 227-250.
    7. Patrick Aubert & Cindy Duc & Bruno Ducoudré, 2013. "French Retirement Reforms and Intragenerational Equity in Retirement Duration," De Economist, Springer, vol. 161(3), pages 277-305, September.
    8. Leombruni Roberto & Mosca Michele, 2013. "The lifetime gender gap in Italy. Does the pension system countervail labour market outcomes?," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201302, University of Turin.
    9. Christine Mayrhuber & Hedwig Lutz & Ingrid Mairhuber, 2021. "Erwerbsaustritt, Pensionsantritt und Anhebung des Frauenpensionsantrittsalters ab 2024. Potentielle Auswirkungen auf Frauen, Branchen und Betriebe," WIFO Studies, WIFO, number 67348, April.
    10. Nolan, Anne & Barrett, Alan, 2018. "Working Beyond 65 in Ireland," IZA Discussion Papers 11664, Institute of Labor Economics (IZA).
    11. Marcella Corsi & Carlo D’Ippoliti, 2009. "Poor Old Grandmas? A Note on the Gender Dimension of Pension Reforms," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 52(1), pages 35-56.

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    More about this item

    Keywords

    gaps in careers; social security wealth and accrual; pensions;
    All these keywords.

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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