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Revisiting the effect of statutory pension ages on the participation rate

Author

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  • David Turner
  • Hermes Morgavi

Abstract

Many OECD governments have enacted, or are contemplating, future increases in statutory pension ages, sometimes provoking vociferous political opposition. Empirical cross-country estimation work consistently finds that coefficients on statutory pension ages are positive and highly statistically significant in explaining labour-force participation at older ages. There is also some consistency in the magnitude of the estimated effects across studies, although this magnitude seems surprisingly modest when translated into the implied effect on average retirement ages: an increase in statutory pension ages by one year is typically estimated to increase the average effective retirement age by only about two months.

Suggested Citation

  • David Turner & Hermes Morgavi, 2020. "Revisiting the effect of statutory pension ages on the participation rate," OECD Economics Department Working Papers 1616, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:1616-en
    DOI: 10.1787/3f430e2b-en
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    Cited by:

    1. Jarmila Botev & Balazs Egert & David Turner, 2022. "The Effect of Structural Reforms: Do They Differ between GDP and Adjusted Household Disposable Income?," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(12), pages 1-55, December.

    More about this item

    Keywords

    labour supply; older workers; participation; statutory retirement ages;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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