TY  - RPRT
        AU  - Lalive, Rafael
AU  - Magesan, Arvind
AU  - Staubli, Stefan
        TI  - The Impact of Social Security on Pension Claiming and Retirement: Active vs. Passive Decisions
        PY  - 2020/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 13537
        UR  - https://www.iza.org/publications/dp13537
        AB  - We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension claiming and retirement, but imposing large penalties and holding the FRA fixed does not. The nature of the reform allows us to identify that between 47 and 69% of individuals are passive, while imposing additional structure point identifies the fraction at 67%. An original survey of Swiss pensioners reveals that reference-dependent preferences is the main source of passivity.
        KW  - full retirement age
KW  - social security
KW  - regression discontinuity design
KW  - reference dependence
        ER  -