Does Raising the Retirement Age Actually Work?

C03

For a saver who remains continuously employed, the model's monthly private pension is R17,223 if retirement is at 60, R23,309 at 65, R31,727 at 70, and R43,839 at 75.

GSX:POP-003:C03 · Modelled · Conditional · moderate sensitivity · Version 1.0

Depends on

A03Continuous private saverThe private-pension path follows a continuously employed saver earning R30,000 a month at 25. Real wages grow by 1.5 percent, 15 percent is contributed, and the account earns a smooth 3 percent real return. The pension is designed to last through age 100.high sensitivity

Modelled results cited

R03Continuous formal employment, pension through age 100For the continuously employed saver, modelled monthly private pension income is R17,223 at a retirement age of 60, R23,309 at 65, R31,727 at 70, and R43,839 at 75.modelled

Registered supporting sources

Does Raising the Retirement Age Actually Work? · GSX:POP-003:PDF

C03

The continuous-employment path is the strongest private case and the easiest to overstate. The manuscript's mixed-occupation path is lower because not everyone keeps a job after 60. A larger balance at a later age can coexist with years of weak earnings before the pension can be drawn.