Retirement expectations and satisfaction with retirement provisions

Research output: Contribution to journalArticleScientificpeer-review

4 Citations (Scopus)


This paper investigates the relationship between subjective expectations regarding the replacement rate of income at retirement and several measures of pension satisfaction. We use panel data on Dutch employees, analyzed with fixed effects models, allowing for correlation between unobserved heterogeneity in satisfaction and optimism or pessimism in expectations. The level of the expected replacement rate is found to be positively related to satisfaction: respondents who revise their expectations of the level of their replacement rate upwards tend to become more satisfied with their pension provisions, in particular with the level of the expected benefits. We do not find robust evidence for a relationship between uncertainty and pension satisfaction.
Original languageEnglish
Pages (from-to)119-139
Number of pages21
JournalThe Review of Income and Wealth
Issue number1
Publication statusPublished - Mar 2015


  • retirement
  • subjective expectations
  • subjective wellbeing


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