Early Retirement: The Impact of Changes in the Benefit Level

In the Netherlands a transition takes place fromearly retirement schemes, which are characterizedby high implicit tax rates to schemes that have ahigher degree of actuarial fairness. in this paperwe look at the impact of this change at the laborparticipation rates of 55 to 65 years old persons.The analysis has been applied on repeated choiceson the basis of stated preferences. We estimate amixed (or random parameters) logit model. The mostimportant finding is the independent role that isplayed by the number of years for which has builtup pension claims. Its impact does not only run viathe disc... Mehr ...