Optimal social security claiming behavior under lump sum incentives : theory and evidence

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MAP20211005602

Optimal social security claiming behavior under lump sum incentives : theory and evidence / Raimond Maurer...[et al.]

Sumario: Many Americans claim Social Security benefits early, though this e aves them with lower monthly payments throughout retirement. We build a lifecycle model that closely tracks claiming patterns under rules, and we use it to predict claiming delays if, by delaying benefits, people were to receive a lump sum instead of an annuity. We predict that current early claimers would defer claiming by a year given actuarially fair lump sums, and the predictions conform with respondents' answers to a strategic survey about the lump sum. In other words, such a reform could provide an avenue for encouraging delayed retirement without benefit cuts or tax increases. Moreover, many people would still defer claiming even for smaller lump sums

En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 01/03/2021 Volumen 88 Número 1 - marzo 2021 , p. 5-27

1. Seguridad Social . 2. Pensiones . 3. Anualidad variable . 4. Encuestas . 5. Jubilación . I. Maurer, Raimond H. .