全球智库信息集成服务系统(G2TT): Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w19032
来源ID	Working Paper 19032
	Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?
	Jingjing Chai; Raimond Maurer; Olivia S. Mitchell; Ralph Rogalla
发表日期	2013-05-09
出版年	2013
语种	英语
摘要	Social Security benefits are currently provided as a lifelong benefit stream, though some workers would be willing to trade a portion of their annuity streams in exchange for a lump sum amount. This paper explores whether allowing people to receive a lump sum as a payment for delayed retirement rather than as an addition to their lifetime Social Security benefits might induce them to work longer. We model the factors that influence how people trade off a Social Security stream for a lump sum, and we also examine the consequences of such tradeoffs for work, retirement, and life cycle wellbeing. Our base case indicates that workers given the chance to receive their delayed retirement credit as a lump sum payment would boost their average retirement age by 1.5-2 years. This will interest policymakers seeking to reform the Social Security system without raising costs or cutting benefits, while enhancing the incentives to delay retirement.
主题	Microeconomics ; Households and Firms ; Welfare and Collective Choice ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Public Economics ; National Fiscal Issues
URL	https://www.nber.org/papers/w19032
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576706
推荐引用方式 GB/T 7714	Jingjing Chai,Raimond Maurer,Olivia S. Mitchell,et al. Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?. 2013.