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Microeconometric Analysis of the Retirement Decision: The Netherlands

Listed author(s):
  • Maarten Lindeboom

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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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
Handle: RePEc:oec:ecoaaa:207-en
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