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Cited by 190Retirement, Disability, and EmploymentFinancial Literacy, Pension, Retirement AnalysisLabor market dynamics and wage inequality

Pension Incentives and the Pattern of Early Retirement

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Blundell, Richard, Meghir, Costas, Smith, Sarah·2002·The Economic Journal
DOI 10.1111/1468-0297.00031
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Abstract

This mix of state and private pension provision in the United Kingdom provides a rare degree of variation in pension incentives for retirement. Using a sample of individuals from the UK Retirement Survey, the paper models the probability of retirement in terms of the incentives underlying the individual's pension plan as well as other socio‐economic factors. It follows an option value approach and allows a separate role for pension wealth, for spouse's economic characteristics and for demographic characteristics. It distinguishes between SERPS and private schemes and models eligibility to disability. The results point to significant retirement incentive effects from the pension system.

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Authors
Blundell, R., Meghir, C., & Smith, S.
Affiliations
Institute for Fiscal Studies (GB)
ORCID
Venue
The Economic Journal
Publisher
Oxford University Press (OUP)
Published
2002-03-01
Volume
112
Issue
478
Pages
C153-C170
ISSN
  • 0013-0133 (ISSN-L)
  • 1468-0297
DOI
10.1111/1468-0297.00031
OpenAlex
W2004604284
Cited by
190
References
0
Citations by year
2025: 3 · 2024: 5 · 2023: 3 · 2022: 2 · 2021: 2 · 2020: 3 · 2019: 8 · 2018: 5 · 2017: 8 · 2016: 7 · 2015: 12 · 2014: 16 · 2013: 10 · 2012: 9
FWCI
26.21
Type
journal article
Language
en
Open access
Licence
doi.wiley.com/10.1002/tdm_license_1.1 (tdm, 4932 d)
Locations
  • The Economic Journal (publishedVersion)
  • SSRN Electronic Journal (submittedVersion)
  • UCL Discovery (University College London) (submittedVersion)
  • Explore Bristol Research (submittedVersion)
  • Bristol Research (University of Bristol) (submittedVersion)
Topics
  • Social Sciences › Demography › Retirement, Disability, and Employment
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Labor market dynamics and wage inequality
Keywords
early retirement, retirement incentives, pensions, public pensions, private pensions, pension wealth, disability retirement, UK pension system

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