Full Citation

Title: Retirement Incentives: Pension Wealth, Accrual and Implicit Tax

Citation Type: Journal Article

Publication Year: 2007

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Abstract: This paper estimates social security financial incentives for early retirement usingcontemporary techniques developed in economics, and compares these estimates to thoseestimated for developed countries. I find that implicit tax on continued work increases withage and amounts to over one-third of an individual potential earnings at age sixty-five. Thepension replacement rate shows the degree of the generosity of the Brazilian pension system,on average pension benefits correspond to 60% of labor income. In general, I find that incentivesinherent to the pension system situate Brazil in the bottom level of developed countries. Thereplacement rates, implicit tax on work and pension accrual rates in Brazil are similar to thelevels observed in the US and Canada.

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Authors: Lanza Queiroz, Bernardo

Periodical (Full): Well-Being and Social Policy

Issue: 1

Volume: 4

Pages: 73-94

Data Collections: IPUMS International

Topics: Aging and Retirement

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