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The retirement decision of couples: are the choices interdependant?

Author

Listed:
  • B. SÉDILLOT

    (Insee)

  • E. WALRAET

    (Insee)

Abstract

Most of the retirement decision models consider retirement as an individual trade-off between consumption and leisure and do not take the spouse situation into account. However, several elements could account for an interdependance between the spouses retirement decisions : complementarity for leisure (for each individual, the value of leisure could be enhanced if the leisure is shared with his/her spouse), similarity of the tastes of the spouses, family dimension of pension rules (in particular through the channel of survivor benefits ). Our objective is to assess the importance of the couple dimension in retirement decisions in France. We first simulate the sensitivity of retirement decisions to the complementarity for leisure. We then proceed to a descriptive and econometric analysis of joint retirement among couples. Our results support the idea of some interdependency in the retirement decisions, particularly for women. They also confirm that the strong penalties for precocious retirement for workers of the private sector limit the impact of this phenomenon.

Suggested Citation

  • B. Sédillot & E. Walraet, 2002. "The retirement decision of couples: are the choices interdependant?," Documents de Travail de l'Insee - INSEE Working Papers g2002-03, Institut National de la Statistique et des Etudes Economiques.
    • Handle: RePEc:nse:doctra:g2002-03
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    File URL: https://www.bnsp.insee.fr/ark:/12148/bc6p06zqq14/f1.pdf
    File Function: Document de travail de la DESE numéro G2002-03
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    More about this item

    Keywords

    social security; couples; labour supply;
    All these keywords.

    JEL classification:

    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • 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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