To estimate the effects of large cuts in pensions on labor force participation, we exploit three natural experiments in which such cuts affect a group of mostly low-skilled repatriated ethnic German workers. In two of these natural experiments, the pensions were cut by between 8 and 16%, yet, according to our regression discontinuity estimates, there was no significant delay in retirement age (with estimated confidence interval bounds of -72 and +49 days). In the third natural experiment, the workers were given an incentive to avoid a pension cut by retiring earlier, but we find no significant effect for earlier retirement. All these results are consistent with low-skilled workers in Germany being frozen in a corner- solution equilibrium in which the optimal choice is to retire as early as possible. This German case is thus an example of older low-skilled workers’ facing few incentives to supply labor in European labor market/social security institutions.