Population aging and legal retirement age Lacomba Arias, Juan Antonio Lagos García, Francisco Miguel Social security Aging Legal retirement age This paper analyzes the effects of population aging on the preferred legal retirement age. What is revealed is the crucial role that the indirect ’macro’ effects resulting from a change in the legal retirement age play in the optimal decision. Two Social Security systems are studied. Under a defined contribution scheme aging lowers the preferred legal retirement age. However, under a defined pension scheme the retirement age is delayed. This result shows the relevance of correctly choosing the parameter affected by the dependency ratio in the design of the Social Security programme. 2014-04-30T07:55:58Z 2014-04-30T07:55:58Z 2005 info:eu-repo/semantics/report Lacomba, J.A.; Lagos, F.M. Population aging and legal retirement age. Universidad de Granada. Departamento de Teoría e Historia Económica (2005). (The Papers; 05/16). [http://hdl.handle.net/10481/31477] http://hdl.handle.net/10481/31477 eng The Papers;05/16 http://creativecommons.org/licenses/by-nc-nd/3.0/ info:eu-repo/semantics/openAccess Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License Universidad de Granada. Departamento de Teoría e Historia Económica