Female Retirees Research Articles

Working retirees in Europe: individual and societal determinants

One of the solutions that could be used to resource the needs of ageing populations is the encouragement of individuals to extend working lives beyond retirement, often referred to as ‘bridge employment’. Although previous studies provide important insights into individual determinants of bridge employment, there is scant research on the extent to which differences across countries and between genders exist and how these might be explained by economic and societal differences in the pension context. The determinants of participation in bridge employment are investigated among male and female retirees in 16 European countries. Multilevel models are estimated based on data from the Survey of Health, Ageing and Retirement in Europe project. It was found that where there is high expenditure on pensions there is a lower likelihood of retirees participating in bridge jobs, while strong norms that support working past retirement are positively associated with bridge employment.

주택연금을 통한 남성과 여성 은퇴자의 장수리스크 비교분석

주택연금을 통한 남성과 여성 은퇴자의 장수리스크 비교분석

Working Beyond Retirement in Europe: An Investigation of Individual and Societal Determinants Using Share

One of the solutions that could be used to resource the needs of an aging population is the encouragement of individuals to extend their working lives beyond retirement, often referred to as ‘bridge’ employment. Although previous studies provide important insights on the relationship between individual attributes and bridge employment, there is scant research on the extent to which differences across countries and between genders may exist and how these might be explained by economic and societal differences in the pension context. Therefore, we investigate the determinants of participation in bridge employment among male and female retirees in 16 European countries. Multilevel models are estimated based on data from the Survey of Health, Aging and Retirement in Europe project. We found that where there is high expenditure on pensions there is a lower likelihood of retirees, particularly women, participating in bridge jobs, while strong norms that support working past retirement are positively associated with bridge employment.

RETIREMENT, PERSONALITY, AND WELL‐BEING

This study investigates how two sources of individual heterogeneity—personality and gender—impact the well‐being effects of retirement. Using data on older men and women from the British Household Panel Survey and its continuation, Understanding Society, we estimate the causal effect of retirement on satisfaction with overall life and domains of life in the presence of personality characteristics. As retirement is often considered to be a choice and thus may be endogenous to individual‐level characteristics, we use the eligibility ages for basic state pension in the United Kingdom as instruments for retirement. We find that retirement increases leisure satisfaction of both males and females but not necessarily life satisfaction and income satisfaction. We further show that certain personality characteristics affect the well‐being of female retirees. For males, however, personality does not seem to matter in how they cope with retirement. (JEL I31, J26, A12, C23)

What to Expect When You Retire: By Women for Women

Women's labor force participation has steadily increased in the United States since the 1970s, making retirement a relevant concept to women. Current research frequently neglects the unique needs of retiring women and the manner in which women must effectively prepare for retirement. As part of a larger study exploring women's retirement satisfaction, we collected survey data from 230 retired women in a Midwestern state. The qualitative responses contained detailed advice to future retired women on issues of significance to the retirement transition. Specifically, our sample had clear messages about planning ahead, preparing financially, responding to unexpected events, and examining sources for social support. These findings are discussed and recommendations are made to practitioners and professionals working with future female retirees.

Retirees' motivational orientations and bridge employment: Testing the moderating role of gender.

Bridge employment refers to the labor force participation after people retire from career jobs. It is becoming a prevalent phenomenon for retirees transitioning from employment to complete work withdrawal. Building on existing literature on retirement transition and older adults' work motivation, the present study examined the effects of 3 motivational orientations (i.e., status striving, communion striving, and generativity striving) in relating to retirees' bridge employment participation (i.e., bridge employment status and bridge employment work hours). This study also applied the social gender role theory to examine the effect of gender in moderating the effects of motivational orientations. Data from 507 Chinese retirees in Beijing revealed that communion striving and generativity striving were positively related to bridge employment participation. Further, gender moderated the effect of status striving such that status striving was positively related to bridge employment participation for male retirees but not for female retirees. In addition, exploratory analysis was conducted to examine the effects of the same set of motivational orientations on postretirement volunteering activities. Results showed that status striving was negatively related to volunteering after retirement. The findings are discussed in terms of their theoretical implications for the bridge employment literature and practical implications for recruiting and retaining older workers.

The trend in sport participation among Dutch retirees, 1983–2007

ABSTRACTThis paper investigates the trend in sport participation among retirees between 1983 and 2007. Sport participation is important for retirees because of its health benefits and the opportunities it offers for social interaction. Factors that influence sport participation such as educational level, physical limitations, and occupational background have changed during the last decades, possibly accounting for changes in sport participation. Data are from the Amenities and Services Utilization Survey (AVO), a nationally representative Dutch survey with seven observations between 1983 and 2007. The trend in sport involvement, sports club membership, and competition was investigated in a sample of 2,497 male and 1,559 female retirees aged 58–67 years. Increases in participation were observed in sport involvement and sports club membership. This trend can partially be explained by increases in educational level, decreases in the number of retirees with physical limitations, and in those retiring from sedentary jobs. Yet, sport participation seems to have increased for all retirees, regardless of their socio-economic background and health status. Alternative explanations for the observed trend are discussed.

Lowering Social Security's Duration-of-Marriage Requirement: Distributional Effects for Future Female Retirees

A number of alternatives to Social Security's auxiliary benefit system have been proposed in the context of changes in American family and work patterns. This article focuses on one modification therein—lowering the 10-year duration-of-marriage requirement for divorced spouses. Using a powerful microsimulation model (MINT), we examine the distributional effects of extending spouse and survivor benefit eligibility to 5- and 7-year marriages ending in divorce among female retirees in 2030, a population largely comprised of baby boomers. Results show that the options would increase benefits for a small share of female retirees, around 2 to 4%, and would not affect the vast majority of low-income divorced older women. However, of those affected, the options would substantially increase benefits and lower incidence of poverty and near poor. Low-income divorced retirees with marriages between 5 and 9 years in length and a deceased former spouse face the greatest potential gains.

Earnings Sharing in the U.S. Social Security System: A Microsimulation Analysis of Future Female Retirees

As part of an ongoing effort to analyze the distributional implications of potential policy reforms to the U.S. Social Security system, we consider the widely discussed reform of earnings sharing. Such an approach has been viewed as a way to "update" Social Security's family benefits based on marital status and as a means to make the system more marriage neutral. We use the Social Security Administration's Modeling Income in the Near Term model to simulate the distributional effects of two earnings sharing alternatives, a basic option and a modified inheritance option, on the projected retiree population in 2030. We focus our analysis on uncovering how different subgroups of women would be affected under the alternative system. Widows and surviving divorced women, particularly those in lower socioeconomic groups, would face some of the steepest benefit decreases. Adding an inheritance provision would mitigate reductions across the board; however, it may not provide as much benefit adequacy to widows as might be expected. Certain groups of women would fare far better under the current Social Security system than under earnings sharing. Linking benefits with earnings sharing would be particularly problematic for lower income widows and single-earner married couples. Never-married persons are unaffected.

Investigating the Variables Influencing Post-Retirement Satisfaction of Teachers

The general purpose of this study was to find out the factors that contributed to or accounted for post-retirement satisfaction among Ghanaian teachers; and whether female teacher retirees and male teacher retirees differ in their post-retirement satisfaction with all those factors that account for post-retirement satisfaction. After reviewing, the literature eight main research questions were formulated to guide the study. Simple random sampling procedure was used to select 230 respondents for the study. The instrument for the study was the questionnaire. Data were analysed using correlations, cross-tabulations and chisquare test of independence. The major finding from the study showed that retirees in general are quite satisfied with all the indicators of post-retirement satisfaction. However, apart from their accommodation status female teacher retirees and male teacher retirees differ in their satisfaction with all the measures of satisfaction in retirement.

‘I can’t be very sad’: constraint and adaptation in the leisure of a ‘learning in retirement’ group

The purpose of this paper is to consider adaptive processes in relation to the constraints that limit leisure in late life. Interview data gathered from a purposive sample of 20 male and female retirees involved in a ‘Learning in Retirement’ programme were used to identify constraints, responses to constraints and the personal meanings of both. Results indicated a variety of emotional and behavioural responses to constraints suggesting five prominent behavioural themes and three emotional themes. Behavioural responses were grouped into: (1) reducing and eliminating; (2) persistence with commitment; (3) constraint as ‘project’; (4) substitution; and (5) exploration and self‐discovery. Emotional reactions ranged from the initial frustration to acceptance and even gratitude for the possibilities that remain. Findings are discussed in terms of the models of constraint negotiation and selective optimisation reported in the literature; but they also indicate that constraints may lead to responses that are not only personally beneficial but are also novel and transformative to some extent.

Retirement and tourism Themes in retirees’ narratives

This article examines central themes in traveling retirees’ perceptions of tourism and travel. It aims to understand the place and value of tourism in retirement. The study described in this article focused on relatively recent retirees, and utilized in-depth semi-structured interviews with a purposive sample of 20 male and female retirees involved in a “Learning in Retirement” program in a mid-sized southeastern U.S. city. Results identified five themes, associating post retirement tourism not only with the new life phase, but also with lifelong interests, leisure activities, retirees’ social networks and perceived constraints. These findings are discussed in light of general theories of adaptation and aging.

Gender Differences in Risk Aversion and Expected Retirement Benefits

Women are generally considered more risk averse than men. Controlling for age, income, and education, this study examined the impact of gender on the superannuation (retirement) fund risk preferences of staff in the Australian university sector. The findings suggest that women choose more conservative investment strategies than men and that lower income (which affects the amount members contribute to their superannuation funds) is the primary contributor to the lower projected retirement benefits of women. Providing members with a choice among risk levels in their retirement investments should significantly benefit male and female retirees.

Gender Differences in Risk Aversion and Expected Retirement Benefits

Women are generally considered more risk averse than men. Controlling for age, income, and education, this study examined the impact of gender on the superannuation (retirement) fund risk preferences of staff in the Australian university sector. The findings suggest that women choose more conservative investment strategies than men and that lower income (which affects the amount members contribute to their superannuation funds) is the primary contributor to the lower projected retirement benefits of women. Providing members with a choice among risk levels in their retirement investments should significantly benefit male and female retirees.

Reconsidering Change and Continuity in Later Life: Toward an Innovation Theory of Successful Aging

This article examines the patterns and meanings of innovation in the activities of a group of retirees with an eye toward understanding the place and value of innovation in the aging process. Starting with a consideration of continuity theory, as a perspective that simply describes typical patterns of activity, and activity theory that prescribes expansion of activities as a key to well-being, this article highlights the characteristics, meanings and perceived benefits of a wide variety of innovative activities. The study utilized in-depth semi-structured interviews with a purposive sample of 20 male and female retirees involved in a "Learning and Retirement" program. Innovations that both preserve a sense of self (internal continuity) as well as those that allow one to strike out in entirely new direction are described, and, using a process of constant comparison, their motivational dynamics are explored. Given previous arguments that activity can be indiscriminate and disintegrative in some circumstances, we nevertheless suggest that innovation can be growth producing and liberating, even in later life, while at the same time generally protecting a sense of internal continuity.

Influence of socio-demographic factors on subjective well-being among retirees (A case study of Oyo State pensions boards)

This study assesses the role played by socio-demographic factors in the determination of retirees\' well-Being. The relationship between well- Being and socio- demographic factors – sex; year of retirement; present employment status; and no of retirees\' dependants is negative but this does not imply causation. A total of 250 participants were randomly selected from a population of retirees with Oyo state pensions Board of which 235 questionnaires were retrieved. Out of which 123 (52.3%) were males and 112 (47.7 %) were females. Their age ranged from 50 and 72 years with the mean age of 61.9 and SD of 5.68. The t-test for independent measures was used in testing the stated Hypotheses. The result showed that female retirees reported a higher subjective well – being that their retirees, t(233) = –2 .83, P African Journal for the Psychological Study of Social Issues Vol. 8(2) 2005: 280-291

Predicting Husbands' and Wives' Retirement Satisfaction from the Emotional Qualities of Marital Interaction

Retirement satisfaction was predicted from the emotional qualities of pre-retirement marital interaction in 49 male ( Mage = 63) and 31 female ( Mage = 61) retirees. In 1989, we measured physiological, behavioral, and subjective aspects of emotion while spouses discussed a conflict in their marriage. Five years later, we assessed retirement satisfaction for spouses who had retired in the intervening period. Husbands who were physiologically relaxed and affectively positive during marital interaction were happier in their subsequent retirements. Wives' retirement satisfaction was not predicted by the emotional qualities of marital interaction.

Health and health care utilization among early retirement pensioners with musculoskeletal disorders

To estimate subjective health status among early retired individuals pensioned due to disorders of the musculoskeletal system. A survey of self-reported health status and health care utilization by means of a mailed questionnaire. Early retirees (cases) and a random sample (controls) of individuals from the municipality of Kristianstad, Sweden. all individuals aged 25-59 years granted a full-time early retirement pension during the period 1986-1990 due to disorders of the musculoskeletal system (n = 450). The response rate was 83.6%. An age- and sex-matched sample (n = 450). The response rate was 82.7%. Self-reported health status and health care utilization. Early retirement entailed a deterioration in self-reported health status among men, all ages, and women aged 25-54 years. Female retirees aged 55-64 reported an improvement in health status since retirement. Early retired female immigrants were less satisfied with their health status than the Swedish ones. Early retirees reported higher health care utilization than controls, but with a reduction since retirement. Drug consumption was high. The beneficial effects of early retirement were evident among old women. Men and young and middle-aged women may need support to adjust to life as a retiree. Special attention should be given to the female immigrant retiree.

An Examination of the Life Satisfaction and Importance of Leisure in the Lives of Older Female Retirees: A Comparison of Blacks to Whites

The purposes of the study were to compare two groups of female retirees (blacks and whites) in terms of their life satisfaction and determinants of life satisfaction. The data base for the study co...

Universal Life Insurance as an Alternative to the Joint and Survivor Annuity

This paper examines whether it is better for a married employee to take a pension as a joint and survivor annuity or to choose a single life annuity and provide separate protection for the spouse through life insurance. A model is developed to describe the problem, and sensitivity analysis is performed using data from 50 state university retirement systems. The feasibility of purchasing the necessary life insurance is tested using a no-load universal life policy. The results indicate that a single life annuity plus life insurance is a viable alternative retirement plan in many states. This approach is especially feasible for female retirees. Universal Life Insurance As An Alternative to the Joint and Survivor Annuity When a married employee retires and begins receiving retirement benefits from his or her employer, the worker often chooses to collect the benefits under a joint and survivor annuity option. In exchange for the benefit to the survivor, the retiree must accept an income, while both people are alive, that is less than that which would be received under the single life annuity option. In the present study, the authors examine the question of whether it is better for a married employee (a) to accept a joint and survivor annuity or (b) to choose the single life option and provide separate protection for the spouse through a life insurance mechanism. The latter choice is economically attractive only if the life insurance death benefit provides an income stream at least equal to what the survivor would have received under the first arrangement, at a premium that is no more than the after-tax difference Sandra G. Gustavson is Associate Professor and Department Head of the Faculty of Risk Management and Insurance at The University of Georgia. James S. Trieschmann is Dudley L. Moore, Jr. Professor of Insurance and Associate Dean of the College of Business Administration at The University of Georgia. The authors acknowledge and thank Cannon Financial Strategists in Athens, Georgia for their assistance and cooperation in connection with this study. The authors also thank Jungkon Suh for his assistance with some of the computer analysis. This content downloaded from 40.77.167.32 on Sun, 04 Sep 2016 04:16:59 UTC All use subject to http://about.jstor.org/terms 530 The Journal of Risk and Insurance between the single life and joint and survivor payments.1 If the difference between the two payment options can support the necessary life insurance premiums, the insurance alternative can be used to protect the spouse while providing income for the retiree who outlives his or her spouse. This extra income results because the retiree who selects the single life option can quit paying life insurance premiums when his or her spouse dies. Furthermore, any cash values that have accumulated may be used by the retiree upon the death of the spouse, since the insurance protection will no longer be needed. A life insurance equivalent to the joint and survivor annuity is being marketed successfully in many areas and is attracting considerable attention2 in spite of the fact that there are no inherent theoretical advantages that can be claimed for this arrangement. This paper illustrates that the viability of the life insurance alternative may be attributable to the excessively large benefit reductions within many retirement plans for retirees who select the joint and survivor option. Background for the Study The concept of an insurance alternative to the joint and survivor annuity option was described by Brainard and Lord [1] in 1980 and has been explained more recently by Corbett [2]. Corbett illustrated the feasibility of the insurance alternative for some levels of life insurance premiums, but the analysis did not consider potential inflation adjustments following retirement. In addition, Corbett's analysis ignored the effects of the 1983 U. S. Supreme Court ruling in the case of Arizona Governing Committee v. Norris.3 That decision stated that retirement benefits provided by an employer cannot differ on the basis of the employee's sex. Thus, joint and survivor reduction factors must be established on a unisex basis. If a male employee has a younger spouse, the joint and survivor reduction factor is now smaller than prior to the Norris decision, making the annuity option potentially more attractive and the insurance alternative less attractive. Life insurance used as an alternative to the joint and survivor annuity is usually not sold on a unisex basis. This fact may further lessen the attractiveness of the insurance alternative for male employees, while making it more attractive for female employees.