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A systematic treatment concerned with the impact of variable retirement options on the design of efficient pension policies. The author analyzes induced retirement behavior in the presence of uncertain lifetimes and liquidity constraints and discusses the existence and direction of induced labor supply incompetencies. Includes an extensive survey of pension economics literature.SOCIAL SECURITY REFORM: A SURVEY.Social Security Policy: An International Perspective.Public Pensions: Economic Approaches.INDIVIDUAL RETIREMENT DECISIONS.Determinants of the Lifetime Labor Supply.A Basic Analytical Framework.Marginal Fairness and Pareto-Efficiency.HETEROGENEOUS POPULATIONS AND EFFICIENT RETIREMENT RULES.Variable Retirement Schemes and Individual Choices.The Common Contribution Rate.Adverse Selection and Benefit Rules.Summary and Conclusions.References.Index.