TY - JOUR T1 - Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents JF - IZA Journal of Labor Policy Y1 - 2016 A1 - Tyrowicz, Joanna A1 - Makarski, Krzysztof A1 - Bielecki, Marcin KW - Economics KW - Pensions KW - Retirement Age KW - Welfare AB - We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows agents to adjust, welfare is not reduced and welfare effects have a similar magnitude and between-cohort distribution in both types of the pension systems. VL - 5 UR - https://izajolp.springeropen.com/articles/10.1186/s40173-016-0067-8 IS - 1 JO - IZA J Labor Policy ER -