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Does Early Access to Pension Wealth Improve Health?

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  • Kim, Seonghoon

    (Singapore Management University)

  • Koh, Kanghyock

    (Korea University)

Abstract

We examine the health impacts of early access to public pension wealth by exploiting a unique policy in Singapore allowing individuals to withdraw a proportion of their pension savings after their 55th birthday. For the identification, we employ a regression discontinuity design by comparing individuals before and after their 55th birthday. To address anticipated and lagged health impacts, we adopt the donut regression discontinuity approach. Using nationally representative monthly panel data, we find that early access to pension wealth improves self-reported overall health.

Suggested Citation

  • Kim, Seonghoon & Koh, Kanghyock, 2020. "Does Early Access to Pension Wealth Improve Health?," IZA Discussion Papers 13184, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp13184
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    Cited by:

    1. Chlond, Bettina & Goeschl, Timo & Kesternich, Martin, 2022. "More money or better procedures? Evidence from an energy efficiency assistance program," ZEW Discussion Papers 22-020, ZEW - Leibniz Centre for European Economic Research.
    2. Mattia Filomena & Matteo Picchio, 2023. "Retirement and health outcomes in a meta‐analytical framework," Journal of Economic Surveys, Wiley Blackwell, vol. 37(4), pages 1120-1155, September.
    3. Kim, Jinyoung & Kim, Seonghoon & Koh, Kanghyock, 2022. "Labor market institutions and the incidence of payroll taxation," Journal of Public Economics, Elsevier, vol. 209(C).
    4. Kim, Seonghoon & Koh, Kanghyock, 2021. "The effects of income on health: Evidence from lottery wins in Singapore," Journal of Health Economics, Elsevier, vol. 76(C).
    5. Oh, Byeung-Kuk, 2024. "Retirement and healthcare utilization: Evidence from pension eligibility ages in South Korea," The Journal of the Economics of Ageing, Elsevier, vol. 27(C).
    6. Kim, Seonghoon & Wang, Lanjie, 2024. "Navigating Unemployment without Unemployment Insurance: Evidence from Singapore," IZA Discussion Papers 17299, Institute of Labor Economics (IZA).
    7. Seonghoon Kim & Kanghyock Koh, 2022. "Health insurance and subjective well‐being: Evidence from two healthcare reforms in the United States," Health Economics, John Wiley & Sons, Ltd., vol. 31(1), pages 233-249, January.

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    More about this item

    Keywords

    early access to pension wealth; regression discontinuity design; health;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving

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