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The Effects of Increasing the Eligibility Age for Public Pension on Individual Labor Supply: Evidence from Japan

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  • Nobuhiko Nakazawa

Abstract

This work investigates the effects of increasing the eligibility age for public pension on workers’ retirement decisions, focusing on recent Japanese public pension reforms. In Japan, the pensionable age for Employees’ Pension Insurance benefits gradually increased from 60 to 65 years for males over the course of a decade. Using a large set of individual-level data and a regression discontinuity design, I find that raising the pensionable age for flat-rate benefits by one year increases male employment at the critical ages by about seven to eight percentage points. Individual labor supply at the critical ages is heterogeneous across degrees of closeness to the implementation date.

Suggested Citation

  • Nobuhiko Nakazawa, 2025. "The Effects of Increasing the Eligibility Age for Public Pension on Individual Labor Supply: Evidence from Japan," Journal of Human Resources, University of Wisconsin Press, vol. 60(1), pages 102-128.
    • Handle: RePEc:uwp:jhriss:v:60:y:2025:i:1:p:102-128
    Note: DOI: https://doi.org/10.3368/jhr.0421-11627R1
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    File URL: http://jhr.uwpress.org/cgi/reprint/60/1/102
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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • 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

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