Pensionable years

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Pensionable years is the numbers of years that men and women can expect to live following attaining a measure of the actuarially neutral pensionable age in 2010 (described here as the official age of pension entitlement), which is a policy choice variable. For more discussion of estimates of pensionable age see OECD (2011). International comparisons of age at actual labour force exit rely on indirect measures from crosssectional data. Indirect measures treat those above a certain age as retired if they are not in the labour force (average age at labour force exit). Net movements into retirement are proxied by the changes over time in proportions of older population not in the labour force. This indirect measure is the average effective age of retirement. The official age of retirement is also complex to pin down, especially when retirement is based on fixed years of pension contribution. For more discussion see OECD (2011).

Document Type: Review Article

Publication date: April 1, 2011

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