www.iza.org/en/webcontent/publications/papers/viewAbstract?dp_id=7269

www.parliament.uk/briefing-papers/SN02209

B. “Public service pension age – 2010 onwards,” by Djuna Thurley (SN06581, March 2013, .pdf format, 17p.).

www.parliament.uk/briefing-papers/SN06581

C. “Social care reform: funding care for the future,” by Manjit Gheera and Robert Long (SN06391, March 2013, .pdf format, 16p.).

www.parliament.uk/briefing-papers/SN06391

www.ifs.org.uk/publications/6622

Abstract:

Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity with falling rates of return to capital and increasing wages. This decreases welfare for middle aged agents with assets accumulated for retirement. This paper addresses three important adjustments channels to dampen these detrimental effects of ageing: investing abroad, endogenous human capital formation and increasing the retirement age. Although non of these suggestions is new in itself, we examine their effects jointly in one coherent model. Our quantitative finding is that openness has a relatively mild effect. In contrast, endogenous human capital formation in combination with an increase in the retirement age has strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in 2010 are reduced by about 3 percentage points.

www.nber.org/papers/w18856

research.dwp.gov.uk/asd/asd5/report_abstracts/ihr_abstracts/ihr_013.asp

www.cbo.gov/publication/43834

crr.bc.edu/working-papers/sticky-ages-why-is-age-65-still-a-retirement-peak/

B. “Accumulation and Decumulation Strategies in the Wake of the Financial Crisis,” by Richard W. Kopcke, Anthony Webb, and Josh Hurwitz (WP No. 2013-1, January 2013, .pdf format, 19p.). Note: Links to the abstract and full-text can be found at:

crr.bc.edu/working-papers/rethinking-optimal-wealth-accumulation-and-decumulation-strategies-in-the-wake-of-the-financial-crisis/

C. “Employee Mobility and Employer-Provided Retirement Plans,” by Gopi Shah Goda, Damon Jones and Colleen Flaherty Manchester (WP No. 2012-28, November 2012, .pdf format, 47p.). Note: Links to the abstract and full-text can be found at:

crr.bc.edu/working-papers/employee-mobility-and-employer-provided-retirement-plans/

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=860

B. “Mismeasurement of Pensions Before and After Retirement: The Mystery of the Disappearing Pensions with Implications for the Importance of Social Security as a Source of Retirement Support,” by Alan L. Gustman, Thomas L. Steinmeier and Nahid Tabatabai (WP 2012-268, September 2012, .pdf format, 36p.). Note: Links to the abstract and full-text can be found at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=856

C. “Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and the Physical Challenges of Work,” by David Neumark and Joanne Song (WP 2012-265, September 2012, .pdf format, 36p.). Note: Links to the abstract and full-text can be found at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=858

Abstract:

Projected demographic changes in industrialized countries will reduce the share of the working-age population. Analyses based on standard OLG models predict that these changes will increase the capital-labor ratio. Hence, rates of return to capital decrease and wages increase with adverse welfare consequences for current middle aged asset rich agents. This paper addresses three important adjustments channels to dampen these detrimental effects of demographic change: investing abroad, endogenous human capital formation and increasing the retirement age. Our quantitative finding is that openness has a relatively mild effect. In contrast, endogenous human capital formation in combination with an increase in the retirement age has strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in 2010 are reduced by about 3 percentage points.

www.ecb.eu/pub/pdf/scpwps/ecbwp1476.pdf

Abstract:

Cross-country variation in average retirement age is usually attributed to institutional differences that affect individuals’ incentives to retire. We suggest a different approach. Since workers in different occupations naturally retire at different ages, the composition of occupations within an economy matters for its average retirement age. Using U.S. data we infer the average retirement age by occupation, which we then use to predict the retirement age of 38 countries according to the occupational composition of these countries. Our findings suggest that the differences in occupational composition explain up to 39.2% of the observed cross-country variation in retirement age.

www.snb.ch/n/mmr/reference/working_paper_2012_06/source

www.parliament.uk/briefing-papers/SN00961