The Double Dividend of Postponing Retirement

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  • 1 January 2002
    • preprint
      • Published in RePEc
Abstract
Early retirement seems to plague social security systems in a number of European countries. In this paper we argue that delaying retirement may have two positive effects: it is likely to partially restore the financial balance of the system, and it may foster redistribution among retirees. To obtain such a double dividend, the benefit rule of the initial social security scheme must have the following two characteristics. First, it operates redistribution within generations. Second, it is "biased" and induces early retirement. Copyright 2003 by Kluwer Academic Publishers (This abstract was borrowed from another version of this item.) (This abstract was borrowed from another version of this item.)

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