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Belgium is characterised by one of the lowest employment rates of elderly workers in the European Union. Since 1997, attempts have been made to discourage elderly workers from leaving the labour market before the age of 65. In particular, two measures aimed at reducing early retirement have been introduced. The first extends the number of career years required to enter early retirement. The second, called "pension bonus", financially stimulates elderly workers to pursue employment after the age of 62. This paper provides an ex-post evaluation of the impact of these two measures on the probability of remaining employed a year later using a difference-in-differences strategy. Our data consists of individual longitudinal employment data covering the period 2000-2009. Using panel data logit models, we find first that the extension of the career length requirement had a significant impact on the probability of staying employed a year later for blue collar and low income white collar male workers aged 60-61 compared to those aged 62-64 during the period 2000-2006. Our second exercise proceeds to estimate the impact of the "pension bonus" during the period 2004-2009, in the presence of the extension of the career length requirement. Comparing the two exercises allows us to conclude that the "pension bonus" had, if any, a very limited impact on the probability of staying employed a year later for male workers aged 62-64 compared to those aged 60-61.
This working paper describes the second version of MIDAS (an acronym for ‘Microsimulation for the Development of Adequacy and Sustainability’), a dynamic population model with dynamic cross-sectional ageing. This model simulates the life spans of individuals in the base dataset, including with their interactions, for the years between 2003 and 2060. It enables to produce, on that period, adequacy assessment of pensions in Belgium that is coherent with the baseline budgetary projections of the 2009 report of the Study Committee for Ageing realized by the Federal Planning Bureau’s semi-aggregated MALTESE model. Indeed, MIDAS aligns its socio-economic and demographic projections and its macro-economic assumptions on the 2009 report of the Study Committee for Ageing. The adequacy of pensions is analysed through the replacement ratio, inequality measures among pensioners and poverty risk indicators of the elderly.
In the context of a European-funded sixth framework project called AIM, a dynamic microsimulation model MIDAS is being developed for Belgium, Germany and Italy. This is a joint effort by three institutions, the German DIW, the Italian ISAE and the Belgian FPB. This model MIDAS simulates future developments of the adequacy of pensions, following wherever possible the projections and assumptions of the Ageing Working Group. This paper describes the model MIDAS in detail. It next presents and discusses some simulation results for Belgium, Germany and Italy. Finally, the simulation results of two alternative policy scenarios are presented and discussed.
This Working Paper reflects the contribution of the fpb to the second work package of the agir project, work package organized by the German diw. It collects in a first attempt a lot of data to approach the volume and evolution of the use of health and nursing care by the elderly. Yet the authors are well aware of the limitations of the present study which can certainly be improved by more detailed data and refinement of the concepts.
This Working Paper reflects the contribution of the fpb to the first work package of the agir project, organized by the Spanish fedea. It thoroughly studies the bio-demographic aspects of population ageing. The aim is to get a better understanding of the nature of ageing. Not only is it important to analyse how fast a population gets older, it is also important to see what effect age has on the population’s health and fitness, especially of the elderly.