Pensions for aging population
By: Peter A. Diamond
Contributors: Massachusetts Institute of Technology. Dept. of Economics
Series: Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 05-33; Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 05-33.
Publisher: Massachusetts Institute of Technology, Dept. of Economics
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Number of pages: 28
Description: After presenting the Gruber-Wise analysis showing a strong effect on retirement of implicit taxes from pension rules, it is shown that there is no effect of these implicit taxes on unemployment. This supports the argument for avoiding high implicit taxes on continued work. Also discussed are methods for adjusting benefits and taxes for increases in life expectancy, with particular attention to increasing the retirement age. Calculations are presented showing the decreases in benefits for an increase in the normal retirement age in the US and the years of service for a full benefit in France. Keywords: social security, retirement, unemployment, life expectancy, normal retirement age. JEL Classifications: H550.
Notes: "December 1, 2005."

Includes bibliographical references (p. 28).

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