Social Security and Retirement in France

Didier Blanchet, Louis-Paul Pele

NBER Working Paper No. 6214
Issued in October 1997
NBER Program(s):   AG   PE

Among numerous retirement schemes in France, the Social Security general regime" covers all wage earners from the private sector, about 65% of workers. In this regime are eligible for a full pension at 65, or between 60 and 65 if they contributed to the regime for at" least 37.5 years. For people between 60 and 65 who do not fulfill this condition still possible but with a downward adjustment of benefits. Our computations show that early" retirement adjustment rules give strong incentives to go on working until being eligible for a full" pension, even if mandatory complementary schemes soften incentives, especially for executives." These results are consistent with empirical hazard rates, showing two spikes at 60 and 65 with the change in the retirement age induced by the 1983 reform.

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Published: Social Security and Retirement in France, Didier Blanchet, Louis-Paul Pele, in Social Security and Retirement around the World (1999), University of Chicago Press (p. 101 - 133)

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