Individuals can retire early (between the ages of 61 and 64) or at the ordinary age of 65, differentiating them by gender and level of education.
Mortar mixtures, in which 10%, 20%and30%0% of ordinary Portland cement (OPC) was replaced by either MK or AK, were prepared (w/b of 0.5) and ordinary (age 2, 28 or 90 days) and autoclave cured.
We measure the marginal effect by the decrease that DSSW is going to suffer if reduction coefficients also affect pensions stemming from partial retirement before reaching the ordinary age of retirement.
In other words, people who partially retire before the ordinary age of retirement would prefer to continue in the labour market rather than entering full retirement as a second-best option.
Thus, the non-applicability of reduction coefficients in case of partial retirement before the ordinary age of retirement is one of the main determinants of the use of this figure.
In the case of full retirement we observe two spikes, one at 60 and a more pronounced one at the ordinary age of retirement, whereas in the case of partial retirement we only observe one spike at 60.
In case of ordinary retirement alpha_{t}=left{ begin{array}{ll} 0 & hbox{if } n<15 0.5+0.03(n-15) & hbox{if } 15leq nleq 25 0.8+0.02(n-25) & hbox{if } 25< n < 35 1 & hbox{if } ngeq 35 end{array}right.In case of early retirement, there is a reduction coefficient (k) for each age previous to the ordinary age of retirement.
The model takes into account that individuals can retire early (between 61 and 64 years) or at the ordinary age of 65 if before the 2011 reform (or at the correspondent age after the reform), and be classified by gender and level of education.32.32
As shown in Table 1, the majority of individuals who partially retire do it at 60, the first year in which older workers have the option to partially retire, and the majority of individuals who fully retired do it before the ordinary age of retirement.
