RetireSecure Blog

April 14, 2016

Why a Lump-sum Payment Should be Part of Social Security

Filed under: Uncategorized — The Pension Research Council @ 10:12 am

Around the world, social-security systems are running out of money. A group of researchers led by Olivia S. Mitchell, Wharton Professor of Insurance/Risk Management & Applied Economics/Policy, and Director of the Pension Research Council, set out to find new ways to get people to delay claiming benefits and work longer. In an experimental survey they found that people would delay claiming benefits for about half a year and work about a third to a half of extra time. Their plan showed that lump sum payments would be popular without costing Social Security extra.

Read more about the study on MarketWatch.com
Working paper available on the PRC Website.

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