{"id":4031,"date":"2024-01-10T14:34:35","date_gmt":"2024-01-10T18:34:35","guid":{"rendered":"https:\/\/ire.hec.ca\/en\/?page_id=4031"},"modified":"2024-01-10T14:38:18","modified_gmt":"2024-01-10T18:38:18","slug":"4-the-impact-of-social-security-on-pension-claiming-and-retirement-active-vs-passive-decisions","status":"publish","type":"page","link":"https:\/\/ire.hec.ca\/en\/4-the-impact-of-social-security-on-pension-claiming-and-retirement-active-vs-passive-decisions\/","title":{"rendered":"#4 : The Impact of Social Security on Pension Claiming and Retirement: Active vs. Passive Decisions"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_2 1_2 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-image-element\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><a class=\"fusion-no-lightbox\" href=\"https:\/\/ire.hec.ca\/wp-content\/uploads\/2020\/08\/cahier_IRE_4_Impact_Social_Security_Pension_Claiming_Retirement_Decisions.pdf\" target=\"_self\"><img decoding=\"async\" src=\"https:\/\/ire.hec.ca\/wp-content\/uploads\/2023\/02\/Capture-de\u0301cran-le-2023-02-28-a\u0300-11.52.22.png\" alt class=\"img-responsive\"\/><\/a><\/span><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_2 1_2 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><h4><a href=\"https:\/\/ire.hec.ca\/wp-content\/uploads\/2020\/08\/cahier_IRE_4_Impact_Social_Security_Pension_Claiming_Retirement_Decisions.pdf\">The Impact of Social Security on Pension Claiming and Retirement: Active vs. Passive Decisions<\/a><\/h4>\n<hr \/>\n<h5>Rafael Lalive, Arvind Magesan and Stefan Staubli<br \/>\nWorking paper #4<br \/>\nRetirement and Savings Institute &#8211; August 2020<\/h5>\n<\/div><div class=\"fusion-text fusion-text-2\"><p>We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension claiming and retirement, but imposing large penalties and holding the FRA fixed does not. The nature of the reform allows us to identify that between 47% and 69% of individuals are passive. An original survey of Swiss pensioners reveals that reference-dependent preferences are the main source of passivity.<\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4031","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/pages\/4031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/comments?post=4031"}],"version-history":[{"count":2,"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/pages\/4031\/revisions"}],"predecessor-version":[{"id":4039,"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/pages\/4031\/revisions\/4039"}],"wp:attachment":[{"href":"https:\/\/ire.hec.ca\/en\/wp-json\/wp\/v2\/media?parent=4031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}