TY  - UNPD
A1  - Maurer, Raimond
A1  - Mitchell, Olivia S.
A1  - Rogalla, Ralph
A1  - Schimetschek, Tatjana
T1  - The potential effect of offering lump sums as retirement payments
T2  - SAFE policy letter series ; 50
N2  - The paper discusses an additional reform proposal for enhancing Social Security solvency which reframes the existing debate in a different light. In our research, we focus on incentives to prolong working years and to delay benefits claiming as a way of sustaining Social Security. Specifically, we analyze how the offer of a budget-neutral, actuarially fair lump sum payment - instead of the current delayed retirement credit – would encourage people to delay claiming their OASI benefits and work longer. The results of our research will be useful for policymakers, namely in (1) measuring who would delay claiming benefits if offered a lump sum instead of higher annuity payments, (2) examining how long they would wait, and (3) how much longer, if at all, they would continue working in the interim.
T3  - SAFE policy letter - 50 
KW  - Social Security solvency
KW  - Pension system
Y1  - 2015
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/39065
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-390657
UR  - http://safe-frankfurt.de/de/policy-center/publikationen/detailsview/publicationname/-71db857944.html
IS  - November 2015
PB  - SAFE
CY  - Frankfurt am Main
ER  -