TY  - JOUR
AU  - Mitchell,Olivia S.
AU  - Fields,Gary S.
TI  - Rewards to Continued Work:  The Economic Incentives For Postponing Retirement
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 1204
PY  - 1983
Y2  - September 1983
UR  - http://www.nber.org/papers/w1204
L1  - http://www.nber.org/papers/w1204.pdf
N1  - Author contact info:
Olivia S. Mitchell
University of Pennsylvania
Wharton School
3620 Locust Walk, St 3000 SH-DH
Philadelphia, PA 19104-6302
Tel: 215-898-0424
Fax: 215/898-0310
E-Mail: mitchelo@wharton.upenn.edu
M1  - published as Olivia S. Mitchell, Gary S. Fields. "Rewards for Continued Work: The Economic Incentives for Postponing Retirement," in Martin David and Timothy Smeeding, editors, "Horizontal Equity, Uncertainty, and Economic Well-Being" University of Chicago Press (1985)

AB  - Using a new data file on pay and pensions, this paper presents and discusses new empirical evidence on how olde rworkers' income opportunities change as they age. It also develops a detailed description of private pension structures and the ways in which pensions reward deferred retirement. The data imply that the present discounted value of total lifetime income rises when people postpone retirement, but the size of the income increment varies with age. The data also show that some pension plans encourage early retirement while others penalize it.
ER  -