Social Security and Retirement during Transition: Microeconometric Evidence from Slovenia
This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
| Attachment | Size | Hits | Last download |
|---|---|---|---|
| 1732.pdf | 368.13 KB | 265 | 1 day 4 hours ago |
This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
978-92-9079-825-5-en-1556
[list_price] => 0.00000 [cost] => 0.00000 [sell_price] => 12.00000 [weight] => 300 [weight_units] => g [length] => 0 [width] => 0 [height] => 0 [length_units] => cm [pkg_qty] => 0 [default_qty] => 1 [unique_hash] => bdf092fce7b45b54309c2962548b756d [ordering] => 0 [shippable] => 1 [tags] => Array ( ) [path] => book/social-security-and-retirement-during-transition-microeconometric-evidence-slovenia [field_book_isbn] => Array ( [0] => Array ( [value] => 978-92-9079-825-5 [safe] => 978-92-9079-825-5 ) ) [field_price] => Array ( [0] => Array ( [value] => 12 ) ) [field_book_series] => Array ( [0] => Array ( [value] => 101 [safe] => 101 ) ) [field_book_number] => Array ( [0] => Array ( [value] => 58 [safe] => 58 [view] => 58 ) ) [field_book_short_title] => Array ( [0] => Array ( [value] => [safe] => [view] => ) ) [field_book_author_external] => Array ( [0] => Array ( [value] => Aleš Ahčan and Sašo Polanec [safe] => Aleš Ahčan and Sašo Polanec ) ) [field_book_old_path] => Array ( [0] => Array ( [value] => 1732 [safe] => 1732 ) ) [field_book_downloads] => Array ( [0] => Array ( [value] => 212 [safe] => 212 ) ) [field_book_pages] => Array ( [0] => Array ( [value] => 29 [view] => 29 ) ) [field_book_price_pdf] => Array ( [0] => Array ( [value] => 0.00 ) ) [field_book_published] => Array ( [0] => Array ( [value] => 2008-10-09 00:00:00 [timezone] => Europe/Brussels [timezone_db] => Europe/Brussels [date_type] => datetime ) ) [field_book_publication_date] => Array ( [0] => Array ( [value] => 2008-10-09T00:00:00 [timezone] => Europe/Brussels [timezone_db] => Europe/Brussels [date_type] => date [view] => 09 October 2008 ) ) [field_book_author] => Array ( [0] => Array ( [nid] => [view] => ) ) [field_image_cache] => Array ( [0] => ) [field_type] => Array ( [0] => Array ( [value] => BOOK [format] => [safe] =>BOOK
[view] => Printed book ) [1] => Array ( [value] => [format] => [safe] => [view] => ) [2] => Array ( [value] => [format] => [safe] => [view] => ) ) [print_display] => 1 [print_display_comment] => 0 [print_display_urllist] => 1 [signup] => 0 [uc_order_product_id] => [0] => [taxonomy] => Array ( [taxonomy_term_38] => Array ( [title] => Social welfare policies [href] => taxonomy/term/38 [attributes] => Array ( [rel] => tag [title] => ) ) [taxonomy_term_101] => Array ( [title] => ENEPRI Research Reports [href] => catalog/101 [attributes] => Array ( [rel] => tag [title] => Produced by the European Network of Economic Policy Research Institutes, which is composed of leading socio-economic research institutes from throughout the EU and managed by CEPS, this series presents the findings and conclusions of research undertaken in the context of ENEPRI research projects. ) ) ) [files] => Array ( [1644] => stdClass Object ( [fid] => 1644 [uid] => 1 [filename] => 1732.pdf [filepath] => files/book/1732.pdf [filemime] => application/pdf [filesize] => 376967 [status] => 1 [timestamp] => 2009-09-09 14:33:53 [nid] => 1556 [vid] => 1556 [description] => 1732.pdf [list] => 1 [weight] => 0 ) ) [flatrate] => Array ( ) [shipping_type] => small_package [shipping_address] => stdClass Object ( [first_name] => Radoslav [last_name] => Minkov [company] => CEPS [street1] => place du Congres 1 [street2] => [city] => Brussels [zone] => 94 [postal_code] => 1000 [country] => 56 [phone] => ) [usps] => [weightquote] => Array ( ) [build_mode] => 0 [readmore] => 1 [content] =>This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
| Attachment | Size | Hits | Last download |
|---|---|---|---|
| 1732.pdf | 368.13 KB | 265 | 1 day 4 hours ago |
This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
978-92-9079-825-5-en-1556
[list_price] => 0.00000 [cost] => 0.00000 [sell_price] => 12.00000 [weight] => 300 [weight_units] => g [length] => 0 [width] => 0 [height] => 0 [length_units] => cm [pkg_qty] => 0 [default_qty] => 1 [unique_hash] => bdf092fce7b45b54309c2962548b756d [ordering] => 0 [shippable] => 1 [tags] => Array ( ) [path] => book/social-security-and-retirement-during-transition-microeconometric-evidence-slovenia [field_book_isbn] => Array ( [0] => Array ( [value] => 978-92-9079-825-5 [safe] => 978-92-9079-825-5 ) ) [field_price] => Array ( [0] => Array ( [value] => 12 ) ) [field_book_series] => Array ( [0] => Array ( [value] => 101 [safe] => 101 ) ) [field_book_number] => Array ( [0] => Array ( [value] => 58 [safe] => 58 [view] => 58 ) ) [field_book_short_title] => Array ( [0] => Array ( [value] => [safe] => [view] => ) ) [field_book_author_external] => Array ( [0] => Array ( [value] => Aleš Ahčan and Sašo Polanec [safe] => Aleš Ahčan and Sašo Polanec ) ) [field_book_old_path] => Array ( [0] => Array ( [value] => 1732 [safe] => 1732 ) ) [field_book_downloads] => Array ( [0] => Array ( [value] => 212 [safe] => 212 ) ) [field_book_pages] => Array ( [0] => Array ( [value] => 29 [view] => 29 ) ) [field_book_price_pdf] => Array ( [0] => Array ( [value] => 0.00 ) ) [field_book_published] => Array ( [0] => Array ( [value] => 2008-10-09 00:00:00 [timezone] => Europe/Brussels [timezone_db] => Europe/Brussels [date_type] => datetime ) ) [field_book_publication_date] => Array ( [0] => Array ( [value] => 2008-10-09T00:00:00 [timezone] => Europe/Brussels [timezone_db] => Europe/Brussels [date_type] => date [view] => 09 October 2008 ) ) [field_book_author] => Array ( [0] => Array ( [nid] => [view] => ) ) [field_image_cache] => Array ( [0] => ) [field_type] => Array ( [0] => Array ( [value] => BOOK [format] => [safe] =>BOOK
[view] => Printed book ) [1] => Array ( [value] => [format] => [safe] => [view] => ) [2] => Array ( [value] => [format] => [safe] => [view] => ) ) [print_display] => 1 [print_display_comment] => 0 [print_display_urllist] => 1 [signup] => 0 [uc_order_product_id] => [0] => [taxonomy] => Array ( [38] => stdClass Object ( [tid] => 38 [vid] => 3 [name] => Social welfare policies [description] => [weight] => 10 ) [101] => stdClass Object ( [tid] => 101 [vid] => 4 [name] => ENEPRI Research Reports [description] => Produced by the European Network of Economic Policy Research Institutes, which is composed of leading socio-economic research institutes from throughout the EU and managed by CEPS, this series presents the findings and conclusions of research undertaken in the context of ENEPRI research projects. [weight] => 0 ) ) [files] => Array ( [1644] => stdClass Object ( [fid] => 1644 [uid] => 1 [filename] => 1732.pdf [filepath] => files/book/1732.pdf [filemime] => application/pdf [filesize] => 376967 [status] => 1 [timestamp] => 2009-09-09 14:33:53 [nid] => 1556 [vid] => 1556 [description] => 1732.pdf [list] => 1 [weight] => 0 ) ) [flatrate] => Array ( ) [shipping_type] => small_package [shipping_address] => stdClass Object ( [first_name] => Radoslav [last_name] => Minkov [company] => CEPS [street1] => place du Congres 1 [street2] => [city] => Brussels [zone] => 94 [postal_code] => 1000 [country] => 56 [phone] => ) [usps] => [weightquote] => Array ( ) [build_mode] => 0 [readmore] => 1 [content] => Array ( [print_links] => Array ( [#weight] => -101 [#value] => [#title] => [#description] => [#printed] => 1 ) [display_price] => Array ( [#weight] => -10 [#access] => 1 [#value] =>BOOK
[#delta] => 0 ) [#title] => [#description] => [#theme_used] => 1 [#printed] => 1 [#type] => [#value] => [#prefix] => [#suffix] => [#children] => Printed book ) [1] => Array ( [#formatter] => default [#node] => stdClass Object *RECURSION* [#type_name] => book [#field_name] => field_type [#weight] => 1 [#theme] => text_formatter_default [#item] => Array ( [value] => [format] => [safe] => [#delta] => 1 ) [#title] => [#description] => [#theme_used] => 1 [#printed] => 1 [#type] => [#value] => [#prefix] => [#suffix] => ) [2] => Array ( [#formatter] => default [#node] => stdClass Object *RECURSION* [#type_name] => book [#field_name] => field_type [#weight] => 2 [#theme] => text_formatter_default [#item] => Array ( [value] => [format] => [safe] => [#delta] => 2 ) [#title] => [#description] => [#theme_used] => 1 [#printed] => 1 [#type] => [#value] => [#prefix] => [#suffix] => ) [#title] => [#description] => [#children] => Printed book [#printed] => 1 ) [#single] => 1 [#attributes] => Array ( ) [#required] => [#parents] => Array ( ) [#tree] => [#context] => full [#page] => 1 [#field_name] => field_type [#title] => type [#access] => 1 [#label_display] => inline [#teaser] => [#node] => stdClass Object *RECURSION* [#type] => content_field [#children] => Printed book [#printed] => 1 ) [#title] => [#description] => [#children] =>| Attachment | Size |
|---|---|
| 1732.pdf | 368.13 KB |
This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
| Attachment | Size |
|---|---|
| 1732.pdf | 368.13 KB |
This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to weak incentives to work inherent in the design of social security and is reflected in predominantly negative values of accruals and to transition-specific increases in wage inequality in the late 1980 and early 1990s. The authors also find that the probability of retirement increases with social security wealth and decreases with net wages, although the response to option value to work, with controlling for wage differences, is rather weak. The results also imply that less educated persons, persons with great private wealth and persons entitled to severance payment are more likely to retire.
Related Publications
- The Effect of the Financial Crisis on Systemic Trust
- Adequacy of Pension Systems in Europe: An analysis based on comprehensive replacement rates
- Towards sustainable but still adequate pensions in the EU: Theory, trends and simulations
- How to make European pensions adequate and sustainable?
- Sustainable and Adequate Pensions: How far have we come?
- Measuring the Sustainability of Pension Systems through a Microsimulation Model: The Case of Italy
- What are the consequences of the AWG-projections for the adequacy of social security pensions?
- Measurement Issues for Adequacy Comparisons among Pension Systems
- Retirement Behaviour in Poland and the Potential Impact of Pension System Changes
- A Semi-Aggregate Model for Social Expenditure Projections