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How raising the full retirement age affects women’s early retirement choices: insights from the interaction of two policies

Author

Listed:
  • Elena Bassoli

    (ETH Zurich; Ca’ Foscari University of Venice)

  • Ylenia Brilli

    (Ca’ Foscari University of Venice; CHILD-Collegio Carlo Alberto)

Abstract

This paper analyzes how a reform increasing statutory retirement age from 60 to 64 affected women's incentives for early retirement. In Italy, women can anticipate retirement at 57 (with 35 contribution years), but subject to an annuity penalization. Using Italian administrative data, we compare women eligible for the early retirement scheme before and after the reform, finding a small effect on women's retirement age, but a substantial negative effect on annuity. Effects are stronger for women with low labor market attachment or working full-time, suggesting that reconciliation of paid and unpaid works is an important driver of early retirement choices.

Suggested Citation

  • Elena Bassoli & Ylenia Brilli, 2025. "How raising the full retirement age affects women’s early retirement choices: insights from the interaction of two policies," Working Papers 2025: 30, Department of Economics, University of Venice "Ca' Foscari".
    • Handle: RePEc:ven:wpaper:2025:30
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    JEL classification:

    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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