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The Labor Consequences of Financializing Pensions

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Abstract

Income in retirement has become increasingly based on individual financial assets rather than from Social Security. Using OECD data, the authors show that the instability of financialized retirement systems is related to workers staying in the labor force longer than before, as well as higher rates of old age poverty.

Suggested Citation

  • Teresa Ghilarducci, Amanda Novello, 2017. "The Labor Consequences of Financializing Pensions," SCEPA working paper series. 2017-05, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepawp:2017-04
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    References listed on IDEAS

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    6. Chulhee Lee, 2003. "Labor Market Status of Older Males in the United States, 1880-1940," NBER Working Papers 9550, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Pension Policy; Government Expenditure; Retirement; Individual Assets;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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