Optimum Delayed Retirement Credit

摘要: A central question for pension design is how bene…ts should vary with the age of retirement beyond early eligibility age. It often argued that in order to be neutral respect individual decisions actuarially fair, is, present value additional contributions and (’Delayed Retirement Credit’- DRC) due postponed equal. We show a self-selection, asymmetric information model, because are suboptimal, socially optimal bene…t structure less than fair.