The effects of subjective survival on retirement and Social Security claiming
利用生命周期模型，估计主观生存概率对退休年龄和社会保障金申领时间的影响，发现低生存概率者更早退休和申领，但影响不大，多数工人一符合条件就申领。
Abstract According to the life‐cycle model, mortality risk will influence both retirement and the desire to annuitize wealth. We estimate the effect of subjective survival probabilities on retirement and on the claiming of Social Security benefits because delayed claiming is equivalent to the purchase of additional Social Security annuities. We find that those with very low subjective probabilities of survival retire earlier and claim earlier than those with higher subjective probabilities, but the effects are not large. The great majority of workers claim as soon as they are eligible. Copyright © 2004 John Wiley & Sons, Ltd.