Work

In Money, We Survive: The Effects of Social Security Retirement Income on Longevity

Year: 2025

Type: report

Abstract: An old and debated line of research examines the income-mortality relationship and finds mixed evidence.In this paper, we re-evaluate previous studies using a new dataset and implementing a difference-in-difference model based on a Notch in Social Security retirement benefits to overcome selection and endogeneity issues.We employ Social Security Administration death records and find a positive income-longevity relationship.Moreover, we find more pronounced effects among low-educated individuals and people from low socioeconomic status families.Analyses using census data suggest that part of the reductions in retirement income are offset by wage income due to post-retirement labor force participation.Past age 80, the net adverse effects of the policy on both income and longevity become more pronounced.

Source: National Bureau of Economic Research

DOI: 10.3386/w34199

Authors: Hamid Noghanibehambari, Jason Fletcher

Institution: National Bureau of Economic Research

Language: English

Topic: Retirement, Disability, and Employment

Subfield: Demography

Field: Social Sciences

Domain: Social Sciences

SDGs: No poverty, Reduced inequalities

Open Access status: green

Funders: University of Wisconsin-Madison, National Institute on Aging