Impact of Social Security Reform on Labor Force Participation Rates of Pensioners and Nonpensioners: Evidence from Chile

Autor:	Alejandra Cox Edwards, Estelle James
Rok vydání:	2010
Předmět:	Social security Labour economics Pension Economics Payroll tax population characteristics Pension system human activities General Economics Econometrics and Finance health care economics and organizations Retirement age Test (assessment)
Zdroj:	Journal of Human Capital. 4:130-172
ISSN:	1932-8664 1932-8575
DOI:	10.1086/657080
Popis:	Recent research argues that pension systems influence the worker's decision to retire. The experience of Chile, which radically changed its pension system in 1981, offers an opportunity to test this hypothesis. Chile shifted from a defined-benefit plan to an actuarially fair defined-contribution plan, exempted pensioners from the pension payroll tax, and tightened early retirement restrictions. We estimate the impact of the 1981 reform on the probability of dropping out of the labor force. We find large effects: Labor force participation rose dramatically among older men who approached retirement age after 1981, in contrast to the decline observed before.
Databáze:	OpenAIRE
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