Anne Katrine Borgbjerg er doktorsnemi í hagfræði við háskólann í Aarhus. Hún nýtir dönsk stjórnsýslugögn og nýjustu aðferðir í rannsóknum til að svara samfélagslega mikilvægum spurningum á sviði lífeyrismála, öldrunar og starfsloka. Rannsóknaráhugamál hennar beinast að hagfræði starfsloka, heilbrigðishagfræði og vinnumarkaðshagfræði.
Útdráttur:
The effect of pension wealth on the timing of retirement (or labor supply in late working life) is analyzed based on panel data covering over 25 years. We use variation in pension wealth due to (temporary) early career differences in firm-specific contribution rates to mandatory funded pension schemes as identifying variation and study labor supply decisions from age 55 onward. Larger pension wealth is found to lead to earlier withdrawal from the labor market. The effect is increasing with age and growing as incentives to make early withdrawals are improving. At age 63, the pension wealth elasticity is around 0.3; that is, an increase of around 100,000 DKK (or 15,000 USD) in pension wealth at age 55 decreases earnings by 1% at age 63. A large part of the reduction in earnings and employment reflects an increase in the number of individuals who are „self-supporting“ in the sense of neither being employed nor receiving public transfers. While mandated savings requirements may succeed in increasing retirement savings, individuals may respond by retiring earlier, an effect that is important to incorporate in reform discussions on how to incentivize individuals to save more and retire later.
