27. august 2025
The 2011 Norwegian pension reform decreased the pension access age for some workers. Reducing the pension access age increased the labour force participation while having a negative effect on the number of weekly working hours and labour earnings on the intensive margin. The overall effect on total labour supply is negligible, as the intensive and extensive margin of labour supply response offset each other. Given the option, many workers appear to take a “gradual” route to retirement after the reduction of access age.