Published in:Netspar Discussion Paper ; No. 10/2014-074
Extent:
1 Online-Ressource (45 p)
Language:
English
DOI:
10.2139/ssrn.2572862
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 31, 2014 erstellt
Description:
This study examines the sensitivity of the retirement age decision to standard retirement ages in pension overviews (age anchors) with a self‐constructed survey. Individuals retire later when they are confronted with a higher age anchor. Specifically, their retirement age corresponds to the age of the anchor. The effect of the age anchor on the retirement age is strongest for women. Interestingly, different socioeconomic subgroups of women are all sensitive to age anchors. The study also assesses the relevance of financial literacy, advice from pension funds and social interactions in explaining the sensitivity to age anchors. Financial literacy does not seem to play a role, while the role of advice from pension funds and the role of social interactions are limited. This suggests that age anchors may have a distinct effect on the retirement age