Determinants Of Retirement Research Articles

Determinants of Retirement in China: A Lifecycle Analysis of Pension Scheme and Health

Determinants of Retirement in China: A Lifecycle Analysis of Pension Scheme and Health

한국 중고령자의 은퇴 결정요인 분석: 은퇴 패턴과 소요 기간을 중심으로

한국 중고령자의 은퇴 결정요인 분석: 은퇴 패턴과 소요 기간을 중심으로

Physical and cognitive capability in mid-adulthood as determinants of retirement and extended working life in a British cohort study.

Objective Policy in many industrialized countries increasingly emphasizes extended working life. We examined associations between physical and cognitive capability in mid-adulthood and work in late adulthood. Methods Using self-reported physical limitations and performance-based physical and cognitive capability at age 53, assessed by trained nurses from the Medical Research Council (MRC) National Survey of Health and Development, we examined prospective associations with extended working (captured by age at and reason for retirement from main occupation, bridge employment in paid work after retirement from the main occupation, and voluntary work participation) up to age 68 among >2000 men and women. Results Number of reported physical limitations at age 53 was associated with higher likelihood of retiring for negative reasons and lower likelihood of participating in bridge employment, adjusted for occupational class, education, partner's employment, work disability at age 53, and gender. Better performance on physical and cognitive tests was associated with greater likelihood of participating in bridge or voluntary work. Cognitive capability in the top 10% compared with the middle 80% of the distribution was associated with an odds ratio of bridge employment of 1.71 [95% confidence interval (95% CI) 1.21-2.42]. Conclusions The possibility for an extending working life is less likely to be realized by those with poorer midlife physical or cognitive capability, independently of education, and social class. Interventions to promote capability, starting in mid-adulthood or earlier, could have long-term consequences for extending working.

Non-financial Determinants of Retirement: A Literature Review

Retirement is often concentrated at specific ages—in particular the ‘normal retirement age’ and an ‘early retirement age’. Financial incentives cannot fully explain this. Moreover, the participation effect of a higher normal retirement age importantly exceeds the encompassing income effect. Based on a literature survey, we conclude that social norms, default options, and reference-dependent utility are likely explanations for the individual propensity to retire at specific retirement ages. Further empirical research on non-financial determinants of retirement is needed to fully understand individual retirement behavior.

HEALTH AND ITS IMPACT ON WORK AND DEPENDENCY AMONG THE ELDERLY IN JAPAN

The present study seeks to provide new evidence on the determinants of retirement for older Japanese men and women, using a unique longitudinal survey of households, the Nihon University Japan Longitudinal Study of Ageing (NUJLSOA). One of the major findings of the present study is that the primary determinant of the probability of remaining in work between 1999 and 2003 was changes in health status as measured by the change in the number of NAGI limitations. Using the same data set, this study also investigates how the status of health affects the degree to which the Japanese elderly expect to rely on their children for old-age security. The computed results were somewhat surprising. The respondent's health status was not statistically significant, but the health status of the respondent's spouse affected the probabilities of the respondent's expectation to rely on children in both 2001 and 2003.

Health problems as determinants of retirement: Are self-rated measures endogenous?

We explore alternative measures of unobserved health status in order to identify effects of mental and physical capacity for work on older men's retirement. Traditional self-ratings of poor health are tested against more objectively measured instruments. Using the Health and Retirement Study (HRS), we find that health problems influence retirement plans more strongly than do economic variables. Specifically, men in poor overall health expected to retire one to two years earlier, an effect that persists after correcting for potential endogeneity of self-rated health problems. The effects of detailed health problems are also examined in depth.

The Problem of Defining Retirement Among Minorities: The Mexican Americans

Using the 1979 Chicano Survey and four different operational definitions of retirement, we explored the effects of age, gender, health, birthplace, and lifetime work experience on the retirement of Mexican Americans. We found that correlates of retirement vary by the definition used. Frequent health limitations was associated with retirement defined by self-reported retirement or self-reported current work status, but not defined by respondents' self-described activities or receipt of retirement income. Operational definitions often used in discussions of timing and determinants of retirement, thus, poorly fit the lifetime work patterns and retirement process of Mexican Americans.

The Future of Work and Retirement

The trend toward earlier retirement of men began in the twentieth century and has continued during the 1980s. In contrast, no such trend has emerged for women. The determinants of retirement are examined in this article along with expected changes in these factors. These data are then used to assess the prospects for reversing the trend toward early retirement among men as well as examining future retirement decisions of women.

Social Policy and Determinants of Retirement: A Longitudinal Analysis of Older White Males, 1969-75

Social Policy and Determinants of Retirement: A Longitudinal Analysis of Older White Males, 1969-75