The double dividend of postponing retirement

Cremer, Helmuth;Pestieau, Pierre
(2003) International Tax and Public Finance — Vol. 10, n° 4, p. 419-434 (2003)

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Authors
  • Cremer, Helmuth
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  • Pestieau, PierreUliège
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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.
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Cremer, H., & Pestieau, P. (2003). The double dividend of postponing retirement. International Tax and Public Finance, 10(4), 419-434. https://doi.org/10.1023/A:1024671130647 (Original work published 2003)