Seminar: Social interactions and the retirement age

Time: 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague

Presentation: Niels Vermeer (CPB)

Discussant: Jochem de Bresser (UvT)

Language: English

Registration:  Please register by sending an email to seminars@cpb.nl.

Abstract subject
We explore the sensitivity of retirement behavior to social norms using vignettes. Individuals appear sensitive to the retirement behavior of their social environment. Decisions on when to leave the work force and enter retirement depend partly on the peers' observed retirement age. Moreover, information and advice provided by peers plays a role in retirement decisions. This also happens when financial incentives are absent. A 65 years of age effect seems to be present, indicating the possible presence of societal social norms. People seem to be more guided by co-workers than friends and family in their retirement behavior. If the social environment responds to policy reforms involving financial incentives, respondents report retiring later.

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