Raising the Social Security Retirement Age: Disciplinary Perspectives

2011 ◽  
Vol 21 (2) ◽  
pp. 2-2
Author(s):  
R. B. Hudson
Keyword(s):  
Social Security ◽  
Retirement Age ◽  
The Social

Differential mortality, aging and social security: delaying the retirement age when educational spillovers matter

2016 ◽  
Vol 16 (3) ◽  
pp. 395-418 ◽  
Author(s):  
GILLES LE GARREC ◽  
STÉPHANE LHUISSIER
Keyword(s):  
Social Security ◽  
Population Aging ◽  
Spillover Effects ◽  
Economic Incentives ◽  
Differential Mortality ◽  
Retirement Age ◽  
Industrialized Countries ◽  
The Social ◽  
Unskilled Workers ◽  
The Postponement

AbstractTo lower the forecasted increase in the social security burden linked to population aging, delaying the legal age of retirement has been privileged throughout industrialized countries. Compared with a uniform delay, some argue that those who have entered precociously the labor market should be allowed to retire earlier. They assert that such a ‘long career’ exception is all the more justified that those unskilled workers live also less long due to heavier and potentially health-damaging jobs. In this paper, we then study macroeconomic and distributional consequences of global gain in life expectancy, with or without the postponement of the legal age of retirement and with or without a ‘long career’ exception. By considering a framework where individuals decide to acquire skills depending on economic incentives and differential mortality, we focus particularly on spillover effects possibly generated by education. We show in particular that introducing a ‘long career’ exception cannot be to the advantage of future unskilled workers unless education yields no spillover effects.

scholarly journals Raising the Social Security Entitlement Age

2016 ◽  
Vol 39 (1) ◽  
pp. 166-189 ◽  
Author(s):  
Julie Zissimopoulos ◽  
Barbara Blaylock ◽  
Dana P. Goldman ◽  
John W. Rowe
Keyword(s):  
Social Security ◽  
Old Age ◽  
Economic Capital ◽  
Public Expenditures ◽  
Retirement Age ◽  
Federal Spending ◽  
Tax Revenues ◽  
Productive Activities ◽  
The Social ◽  
Public Revenues

An aging America presents challenges but also brings social and economic capital. We quantify public revenues from, and public expenditures on, Americans aged 65 and older, the value of their unpaid, productive activities and financial gifts to family. Using microsimulation, we project the value of these activities, and government revenues and expenditures, under different scenarios of change to the Old Age and Survivors Insurance eligibility age through 2050. We find the value of unpaid productive activities and financial gifts are US$721 billion in 2010, while net (of tax revenues) spending on the 65 years and older is US$984 billion. Five-year delay in the full retirement age decreases federal spending by 10%, while 2-year delay in the early entitlement age increases it by 1.5%. The effect of 5-year delay on unpaid activities and transfers is small: US$4 billion decrease in services and US$4.5 billion increase in bequests and monetary gifts.

scholarly journals The Postretirement Well-Being of Workers With Disabilities

2018 ◽  
Vol 30 (1) ◽  
pp. 46-55 ◽  
Author(s):  
April Yanyuan Wu ◽  
Jody Schimmel Hyde
Keyword(s):  
Social Security ◽  
Older Workers ◽  
Well Being ◽  
Vulnerable Groups ◽  
Retirement Age ◽  
Social Security Administration ◽  
Retirement Benefits ◽  
The Social ◽  
Social Security Disability ◽  
Better Than

Older workers who develop significant limitations in health or functioning face declines in income and consumption and an increased likelihood of poverty in the years prior to retirement. We assess the extent to which those differences persist after reaching retirement age. We use the Health and Retirement Study (HRS) linked to Social Security Administration (SSA) records to compare the postretirement financial well-being of workers who experienced disability onset during their working years with those who did not, based on their claiming behavior for Social Security disability and retirement benefits. We find that even after full retirement age, gaps that emerged prior to retirement persist; those who experienced disability prior to retirement had lower incomes, were more likely to be in poverty, and had significantly lower wealth. Workers with disabilities who claimed Social Security Disability Insurance (DI) fared better than those who were rejected for such benefits, yet both groups were worse off than those who delayed claiming benefits until they were eligible for Social Security Old Age and Survivors Insurance (OASI) benefits. Our findings indicate that any changes to the Social Security benefit structure must be mindful of the short- and longer term implications for already-vulnerable groups of workers.

scholarly journals (IN) contributory justice in the general social security regime: RGPS from the point of view of actuarial science from the point of view of income and the actuarial social security factor

2019 ◽  
pp. 135-161
Author(s):  
Matheus Carneiro Rocha ◽  
Jamille Carla Oliveira Araújo ◽  
Neuma Teixeira Dos Santos
Keyword(s):  
Social Security ◽  
Point Of View ◽  
Retirement Age ◽  
Actuarial Science ◽  
Contribution Rate ◽  
Retirement Benefits ◽  
Matlab Program ◽  
Security Regime ◽  
The Social ◽  
Very High

Issues related to public social security have generated widedebate between society and government. The average citizen cares about the fair measure between what he pays in the present and how much he will receive from retirement in the future. In view of this, this article aims to define according to the foundations of actuarial science, the fair measure between the value of contributions (payments) and the value of benefits (retirement) managed by the General Social Security Regime – RGPS as a tool of social (in)justice. The methodology used to obtain all parameters relevant to the RGPS as well as to the actuarial social security regime was the creation of situations involving men and women under specific conditions of entry into the social security system of initial age, retirement age and contribution salary and from these input data, the values of contribution and benefits were calculated through the Matlab program , where calculations were operationalized as a calculation routine. The results were segmented by gender (male or female) and income range, it was observed that social security contribution rate, the most important parameter to define the value of contributions to the RGPS, from 28% to 31% is very high in comparison with the rate calculated by actuarial science of 16% to 17% for men and 13% to 14% for women. It is concluded that for the ordinary citizen subject to the rules of the RGPS in force, the amounts of the contributions paid that reflect the retirement benefits received differ from the fair measure, calculated by actuarial science, therefore, it was not observed factors that attest that the RGPS is fair to the taxpayer and therefore to society.

scholarly journals An Analysis on Social Security in Brazil Based on Maranhão

2020 ◽  
Vol 11 (1) ◽  
pp. 1
Author(s):  
Fernando Silva Lima ◽  
Alessandra Silva Pires ◽  
Francisco De Assis Pereira Filho ◽  
Michelle Matilde Semiguem Lima Trombini
Keyword(s):  
Social Security ◽  
Economic Crisis ◽  
Pension System ◽  
Pension Reform ◽  
Constitutional Amendment ◽  
Retirement Age ◽  
Men And Women ◽  
Financial Situation ◽  
The Social ◽  
Minimum Age

This study begins with the question: can the new change in the old-age pension system improve the economic-financial performance of the National Institute of Social Security in Brazil? The hypothesis is that the proposed constitutional amendment (PEC) 287/16, which is being presented at the Chamber of Deputies known as the pension reform, including an attempt to change the minimum age for men and women, will not solve the problem of economic crisis and financial expenses of the National Institute of Social Security of Brazil, due to the fact that the greatest impact may be other expenses not identified in this study that revolve around the benefits of retirement. The general objective is to analyze the economic and financial situation of social security in Brazil based on the regional accounting records located in Imperatriz and São Luís do Maranhão between 2008 and 2017. The methodology was defined as descriptive, explanatory and average, such as bibliofigurey, documentary and field. One of the results regarding the increase in the retirement age shows that there is no relation between the income increase indicators when compared to the surplus (profit) or deficit (loss) between 2008 and 2017 in the Social Security of Maranhão.

Popular Opinion on Tax Cuts and Social Security

2000 ◽  
Vol 30 (2) ◽  
pp. 425-430
Author(s):  
Ruy Teixeira
Keyword(s):  
Social Security ◽  
Retirement Age ◽  
Trust Fund ◽  
Popular Opinion ◽  
Payroll Taxes ◽  
The Public ◽  
Education And Health ◽  
The Social ◽  
Opinion Polls

A review of recent opinion polls reveals the U.S. public's views on budget priorities and Social Security. The public wants more spending on Social Security, Medicare, and other domestic programs, chiefly education and health care, and prefers these spending priorities—by up to a 70 percent majority—to paying down the national debt and cutting taxes. The public supports the Social Security system but doubts it can continue to deliver the goods. To remedy this problem, it is willing not only to use part of the surplus but to raise the cap on payroll taxes. The public does not support benefit cuts or an increase in the retirement age. And the public remains unsure to hostile about the role of the stock market, whether in individual accounts or in the Social Security trust fund.

scholarly journals Incentives to retire later – a solution to the social security crisis?

2002 ◽  
Vol 1 (2) ◽  
pp. 111-130 ◽  
Author(s):  
FRIEDRICH BREYER ◽  
MATHIAS KIFMANN
Keyword(s):  
Social Security ◽  
Pension System ◽  
Retirement Age ◽  
Negative Effects ◽  
Social Security Systems ◽  
Security Systems ◽  
Long Run ◽  
The Social ◽  
Unfunded Social Security ◽  
Increasing Function

As one possible solution to the well-known financing crisis of unfunded social security systems, an increase in the retirement age is a popular option. To induce workers to retire later, it has been proposed to strengthen the link between retirement age and benefit level. The present paper is devoted to analyzing the long-run financial implications of such a reform. We show that with actuarial adjustments the long-run contribution rate is an increasing function of the retirement age chosen by workers. Moreover, the implicit tax paid to the pension system by a participant can increase in the long run if the retirement age rises in response to a ‘steep’ adjustment rule. In this sense, the proposed ‘cure’ may worsen the disease. Finally, we show how the negative effects can be avoided by forming a capital stock from the additional revenues due to later retirement.

Sign in / Sign up

Export Citation Format

Share Document