How is economic hardship avoided by those retiring before the Social Security entitlement age?

TitleHow is economic hardship avoided by those retiring before the Social Security entitlement age?
Publication TypeJournal Article
Year of Publication2014
AuthorsMilligan, KS
JournalJournal of Pension Economics and Finance
Volume13
Issue4
Pagination420-438
KeywordsHealth Conditions and Status, Income, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction, Social Security
Abstract

Governments around the world are reacting to extended lifespans and troubled pension finances by increasing the age of retirement benefit entitlement. This paper studies those who retire before the age of full pension entitlement in the USA using data drawn from the Health and Retirement Study. The major finding is that four out of five people who have zero earnings at pre-entitlement ages are able to find a way to lift their incomes over the poverty line. For men, pension and annuity income are important while for women, spousal income helps most to get them over the line.

DOI10.1017/S1474747214000171
Endnote Keywords

pensions/poverty/retirement/Social Security/old age pensions/pension income/annuity income/household income

Endnote ID

999999

Citation Key8030