Post-retirement Years Research Articles

Impact of retirement on physical activity in older adults: a longitudinal analysis from SHARE

Abstract Background With ageing populations experiencing longer post-retirement years, understanding the influence of major life transitions on health behaviours such as physical activity (PA) is crucial. This study assesses how retirement affects PA levels by analysing longitudinal data from the Survey of Health, Ageing and Retirement in Europe (SHARE). Methods This analysis utilised longitudinal data from 2004 to 2020, categorising PA according to WHO guidelines adapted to individual-level data from successive waves of SHARE. The study examined the relative risks (RR) of being physically active, using generalised estimating equation models to compare periods before and after retirement. Results The cohort consisted of 8,998 individuals aged 50 and older who were employed at baseline and retired during the study period. Initially, 83.6% of participants were categorised as physically active. A noticeable decline in PA was observed post-retirement, with RR decreasing from 1.08 (95%CI 1.07-1.10) more than 10 years before retirement to 0.90 (95%CI 0.88-0.93) more than 10 years after retirement, compared to the year of retirement. Previously inactive individuals often increased their PA levels, peaking 3 to 4 years post-retirement (RR increased from 0.79, 95%CI 0.70-0.88, to 1.49, 95%CI 1.36-1.63), suggesting a temporary boost in moderate-intensity PA during the so-called “honeymoon phase”. Conclusions Retirement can serve as a window of opportunity for enhancing leisure-time PA, particularly among those previously inactive. Sustained increases in PA are less common, highlighting the need for targeted interventions to support continued engagement in PA among retirees. The variations in PA trends suggest that interventions should be tailored to individual characteristics such as age at retirement, previous job type, and educational background to maximise public health impact. This study underscores the challenges of ensuring long-term health benefits through PA. Key messages • Retirement significantly alters physical activity patterns, highlighting an opportunity for targeted health interventions. • Longitudinal data reveals critical periods post-retirement that could benefit from public health strategies to maintain or increase physical activity among older adults.

Boomerang children and parental retirement outcomes

AbstractAs the share of U.S. adult children living with their parents increases, it is important to understand how children who “boomerang” back home impact their parents in their pre-retirement and post-retirement years. We use data from the Health and Retirement Study (HRS) to examine the effects of boomerang children on their parents’ labor market expectations and choices, as well as on their wealth, health, and life satisfaction. Event study analysis suggests that boomerang children return home due to short-term instabilities, such as negative shocks to marriage, income, and employment. We find that boomerang children are associated with a small increase in their parents’ subjective probability of working after age 65, and with a temporary increase in their parents’ non-housing debt. However, in the aggregate, we find no clear evidence that boomerang children impact parents’ current or future labor market choices, overall wealth, health, or life satisfaction. (We do find some evidence of an increase in hours worked among parents in the bottom wealth decile). One possible explanation for the lack of aggregate impact is that boomerang children contribute to household expenses. We find that boomerang events are associated with an increase in financial transfers from children to parents, particularly among parents in the bottom half of the wealth distribution.

Finnish Retirement and Aging Study: a prospective cohort study

PurposeThe Finnish Retirement and Aging (FIREA) Study was set up to study changes in health behavioural and cardiometabolic risk factors across retirement transition, and to examine the long-term consequences of...

CHANGES IN SUBJECTIVE WELL-BEING DURING RETIREMENT TRANSITION: A 10-YEAR COHORT STUDY OF AGING ADULTS IN CHINA

Abstract The literature on retirement adjustment remains inconclusive whether retirement transition is a stressor or a relief. This study examined the effects of retirement on subjective well-being of Chinese ageing adults in various phases of retirement. Drawing on a representative sample of “baby boomers” born in 1945-1965 (N = 3,328) from the China Family Panel Studies (2010-2018), the author examined the within-individual changes in subjective well-being, measured by life satisfaction and confidence in the future, using time-distributed fixed-effects regression technique. After adjusting for a wealth of potential confounders such as financial standing and health, the data reveal that the two outcomes of interest started increasing at two years before retiring. In addition, the improvements persisted in four or more postretirement years. Urban adults experienced greater well-being boost than rural residents during the immediate pre- and post-retirement period, but not in two or more postretirement years. Furthermore, the subjective well-being of urban females and rural males increased upon retirement and fluctuated significantly, whereas rural females and urban males experienced a stable increase in subjective well-being since the first preretirement year. Results suggest that the transition into retirement generally represents a relief for urban ageing adults in China, but the well-being improvements are stratified by residency and gender. Therefore, retirement policies should ensure subjective well-being of disadvantaged pre-retirees and attend to the needs of retired urban women and rural men.

The influence of baby boomers’ perceptions of well-being on their plan to age-in-place post-retirement

As baby boomers contemplate retirement, it is important to understand what, how, and where they plan to maximize their well-being. The senior living industry is especially interested as it considers how to apply hospitality strategies to increase its attractiveness to the boomer market about where they will spend their post-retirement years. Surprisingly, there is little research on what these prospective customers want in post-retirement living accommodations that maximizes their well-being. This study aims to fill this knowledge gap by assessing whether the elements of well-being influence baby boomers’ pre-retirement plan to age-in-place after retirement. Since technology is increasingly being used to provide the elements of well-being, this cohort’s affinity for technology was also measured to assess its influence as a moderator on the plan to age-in-place. Findings revealed a relationship between baby boomers’ perception of their well-being needs and their decision to age-in-place while technology did not moderate these assessments.

ENTREPRENEURSHIP SKILLS IN FOOD AND NUTRITION EDUCATION: A PANACEA FOR SUSTAINABLE RETIREMENT

Retirement can be explained as an event in an individual’s life which marks a withdrawal from active service, terminating an accustomed pattern of life and transiting to a new one. It is the stage in which employees have to leave the workforce on a permanent basis so as to prepare for their twilight years. Life after retirement for majority of retirees is not a rosy one owing to ineffective preparation and planning for post-retirement years. Venturing into a business venture at an old age is an interesting phenomenon. Public servants have a variety of economic activities to venture into after retirement and entrepreneurship in Food and Nutrition education is one of those ventures. This paper focuses on the conceptual clarification of Food and Nutrition, Retirees and Entrepreneurship; the Place of Food and Nutrition Entrepreneur-ship in economic sustainability during post retirement. It will discuss extensively on ways of Identifying and exploiting entrepreneurship opportunities in Food and Nutrition for sustainable economic during retirement. It will also identify some of the challenges of Entrepreneurship skill development in Food and Nutrition Education. Adequate preparations and planning by all employees for post-retirement will curb the effects of postretirement anxiety, financial insufficiency, prevailing cost of living, poor feeding, depression and ill-health. Adequate exposure of employees to skills, knowledge and attitude in food and Nutrition education is will help them to develop strong foundation that will enable them sustain the family’s future.

NIGERIAN RETIREES' RETIREMENT PLAN AND SOCIO-ECONOMIC WELL-BEING OF THE FAMILY.

There must be a beginning and an end to every situation in life. Any successful start requires a strong finish, which must be based on efficient planning. Life after retirement management requires making plans for the future of the family. When one leaves active duty, one must adjust to a new way of life. According to this paper, a worker who disregards retirement preparation runs the danger of having to re-strategize once they retire, adopt, and apply new approaches to alleviate the issues that arise after retirement. As a result, a worker must make plans to leave as soon as possible after starting work. Although the government has made provisions for post-retirement years and retirement periods through various programs. As many potential retirees are unprepared, it has always been tensed and thought provoking. This could be due to lack of planning, funding, or non-payment or inconsistent payment of taxes, pension, and stipend. This paper asserts that a pleasurable and enjoyable post-retirement existence necessitates effective planning, training, and counselling, knowing that workers who fail to plan are at a disadvantage. They want to have an unnecessary threat to their old age in their post-retirement lives, such as poor health, dissatisfaction, low self-esteem, redundancy, and low socio-economic status are only a few examples. Recognizing that retirement is a period marked by changes in one's mental, social, economic, health, and nutritional State. As a result, workers must devise strategies for managing their post-retirement lives, to remain productive and healthy after active duty, despite tough and unfavorable conditions. This paper is of the opinion that government should pursue investment possibilities, training, and skill development, preparation for acquisition, awareness campaign through seminars, workshops, and public talks in preparation for retirement.

Replicating Maximum-Yield Annuities with US Treasury Funds

Many individuals rely on annuity purchases to provide a steady stream of income during their post-retirement years. Life insurance companies provide a variety of annuity contracts, but they often come with sizable fees that are extremely detrimental to the purchaser in a low-interest-rate environment. This article develops a methodology that enables retail investors to structure annuities using commonly available US Treasury exchange-traded funds (ETFs) or mutual funds. Only historical price or NAV data and Treasury yield data are required to implement the strategy. The funds compose a dynamically managed portfolio requiring only an initial investment. Each period, the portfolio is rebalanced to match the modified duration of a reference annuity. This minimizes interest rate risk from parallel shifts in future yield curves. The weights are optimized to provide the highest yield possible. The objective is for the portfolio to provide the required periodic annuity payments and have a zero balance at annuity maturity under a variety of interest rate scenarios, while providing the maximum possible yield. Scenario tests show that the strategy is effective under parallel yield curve shifts, but may have shortfalls for curve steepening and gains for curve flattening. Investors may choose to add to their initial investment to reduce the risk of shortfalls if the curve steepens. The article concludes with an implementation of the strategy using actual Treasury ETFs. <b>TOPICS:</b>Retirement, exchange-traded funds and applications, fixed income and structured finance, performance measurement <b>Key Findings</b> ▪ US Treasury ETFs can be used to replicate an annuity, thus enabling retail investors to avoid the sizable fees charged by life insurance companies. ▪ The replication performs well for parallel yield curve shifts. ▪ Future work using key-rate durations may enhance the performance of the replication for non-parallel yield curve shifts.

Selection of Retirement Saving Plan for a Private-sector Employee in Pakistan

Tehmina Khan, a 35-year-old, married mother of two, had been working as an assistant professor at a private sector university, University of Management and Information (UMI), School of Business. For the last few years, she had been saving for her retirement via a provident fund (PF) with her employer. The fund had been posting generous returns for years up until July 2018, when it posted earnings well below the inflation rate for the same period. Tehmina wanted to be financially self-sufficient in her post-retirement years and sought no financial dependence on her posterity for that matter. The meagre returns heightened her concerns about the future eventualities, so she had to decide if she should switch to another retirement plan. She needed to explore alternative retirement plans and identify how she could participate in a voluntary pension system (VPS) outside her employer’s PF. Also, if she decided to go ahead with VPS, she had to decide which asset management company(s) and portfolio manager(s) to allocate her savings to. The case comprehensively discusses the details about different retirement benefits and mechanisms and distinguishes aspects of private and public sector retirement plans in Pakistan. Most importantly, the case includes data on the performance of seventeen out of a total of nineteen pension plans operating in Pakistan. It also includes data on asset allocations of pension funds; overall macroeconomic, historical and stock market performances; and yield curve for the last 10 years.

Monitoring the health of transitioning professional footballers: protocol of an observational prospective cohort study

IntroductionTransitioning out of professional football is a challenging time in most players’ lives. During these preretirement and postretirement years, professional footballers may struggle with their mental, musculoskeletal, neurocognitive and cardiovascular...

WOMEN'S EXPERIENCES OF AGING AND SOCIAL CONNECTEDNESS

Models of aging, such as the successful aging framework outlined by Rowe & Kahn (1987; 2015) should be holistic, necessitating the inclusion of health, psychosocial factors, and social connectedness. Even at the oldest ages, life expectancy and rates of survival are increasing, yet these longer lives are accompanied with disease and disability, especially among women (Crimmins & Beltrán-Sánchez, 2010); thus, maximizing health and well-being during these post-retirement years, which can often span decades, is a high priority. However, models of age-related change, such as those relating to age-related transitions, are predominantly based on men’s experiences; less is known about how women navigate later life (Calasanti, 2010; Kim & Moen, 2002). The presentations in this symposium provide quantitative and qualitative data from women of a broad age range concerning their experiences of aging, with the shared theme of social relationships. Sherman examines the relationship between personality and social support for well-being outcomes in Native American, African American, and European American women (Mage = 57). Conceptualizing aging as the quintessential life transition, Newton outlines the diverse themes of physical, psychological, and social aging from interviews with older women (Mage = 72). Fuller and Toyama find that for older women (Mage = 80), friendships mattered more than family, and counting on neighbors could even be detrimental in terms of life satisfaction and stress. Taken together, these presentations provide a varied picture of what it means for women to ‘age well’, suggesting nuanced ways in which we might conceptualize theories of aging for women.

Women’s financial planning for retirement

PurposeThe purpose of this paper is to examine the status of the research on women’s financial planning for retirement. This paper provides a brief review of the work carried out so far along with a conceptual framework of factors influencing women’s retirement financial planning. In addition, it lists significant gaps and recommends avenues for future research.Design/methodology/approachThe review is based on 151 articles appearing in various peer-reviewed journals published during 1980–2017. The study establishes its prominence by studying the publication activities based on the year of publication and region, citation analysis, research designs, data analysis techniques and findings from the selected articles.FindingsMost of the literature on women’s financial planning for retirement indicates a lack of financial management amongst women and their susceptibility to poverty in postretirement years. The majority of the research works in this field have taken place in developed economies. Empirical research with regression-based models for analysis is the most popular research design. This review also highlights the significant determinants of women’s retirement financial planning as identified through literature. These include socio-demographic factors, psychological constructs, financial literacy, economic and circumstantial forces.Originality/valueThis paper covers the research works done in this area in the past 38 years. To the best of authors’ knowledge, this is the first attempt to provide a systematic and comprehensive compilation of the knowledge in this subject. It further synthesizes the findings of various studies on factors influencing women’s retirement financial planning and gives recommendations for future studies.

Late-career unemployment has mixed effects in retirement

ABSTRACTPaid work forms a pattern of occupational engagement that shifts during both unemployment and retirement. Similar to unemployment, the occupational disruption associated with involuntary retirement has been linked to poorer physical and mental health outcomes. To better understand the health impact of work transitions during the pre- and post-retirement years, 24 retired individuals with late-career unemployment were interviewed at the Huntsman World Senior Games in October 2016. Demographic data were collected. Braun and Clarke’s (2006) approach was utilized to thematically analyse the interview data and interpretations were evaluated against existing theory. Themes identified included struggle, freedom, and transition, followed by resilience and a return to well-being, with mental health levels reported at national averages for the age group. Choice and autonomy in the retirement years contributed to resilience. Concepts of productivity and meaningful engagement shift during the retirement years toward wellness derived from purposeful occupation, suggesting that occupational models may need to reconsider concepts of productivity and purpose for this age group.

Estimating Longevity Using Non Parametric and Semi Parametric Survival Functions

The conventional models that are frequently used to summaries the general health of people in different nations are longevity and life expectancy. There are many other different methods of estimating life expectancy and these different methods give widely different answers. When selecting a method for estimating life expectancy, it is important to ensure that the method used is suitable for the data available and for the life history of the respondents. Although there is rarely only one correct method of summarizing demographic information, the problem of life table is that follow cohorts for long periods of time are not common, which prevents cohort analysis, and the critical assumption of a stable-age distribution so difficult to meet. Our derived longevity survival based models form parametric and non-parametric clearly demonstrated that the conventional life table and survival methods are clearly inconsistent and give misleading results. This study utilised University academic retirees data obtained from two premier Universities in Western Nigeria. The estimated mean life expectancy from life table model of Universities academic retirees is 18 years and estimated mean of post retirement years for Universities academic retirees from derived longevity using Kaplan Meier model is 22 years. Utilisation of explanatory variable from derived longevity using Cox proportional model estimated mean of post retirement years for universities academic retirees is 22 years. Based on standard error estimate we can say that life table model is inappropriate for estimating life expectancy.

A market-oriented model for the independent-living retirement village industry

PurposeAs the “baby boomer” generation continues to enter their senior post-retirement years, the provision of affordable retirement housing has become increasingly important for the community, practitioners and policymakers. However, relatively little attention has to date been placed on identifying an effective market mechanism for the industry of the independent-living retirement villages to meet this increased and unprecedented demand. This study aims to develop an innovative and affordable retirement village development model which meets the needs of all stakeholders including seniors, retirement village residents, the retirement village industry and government.Design/methodology/approachThe attributes of this study are as follows: structure of individual living units, retirement village characteristics, retirement village facilities and services and support mechanisms. The analysis was undertaken based on data relating to independent-living retirement villages in five Australian states. A hedonic pricing model was used where the price distributions relating to these four aspects were estimated.FindingsThe results confirmed the structures of the independent living units and the retirement village characteristics were closely related to pricing, followed by services and supports with a lesser relationship, although the facilities were not significantly related to pricing.Research limitations/implicationsThis research is not able to address the entire retirement village market in Australia because the available market data are limited.Practical implicationsThis research uses an innovative supply-side approach to assess retirement village attributes and values, which provides stakeholders with up-to-date market information to assist in guiding the performance of the retirement village industry.Social implicationsThe market evaluations imply that seniors are reluctant to pay for village attributes that are not regarded as highly sought-after. A cost-effective strategy of new retirement village developments and upgrades can be further induced, which in turn can enhance the market efficiency and affordability of the retirement villages.Originality/valueThis pricing model for retirement village units extends previous studies into retirement villages and presents stakeholders with an innovative and reliable market-oriented model.

Statutory retirement and changes in self-reported leisure-time physical activity: a follow-up study with three time-points

BackgroundRetirement is a key life event, which is associated with changes in physical activity, however, there is limited evidence with regard to changes in physical activity that take place in post-retirement years. The aim of this study was to examine how leisure-time physical activity changes shortly after the transition to retirement and during the post-retirement years.MethodsThe phase 1 data were collected in 2000–2002 (n = 8960, response rate 67%) among 40–60-year-old employees of the City of Helsinki, Finland. Phase 2 was carried out in 2007 (n = 7332, response rate 83%) and phase 3 in 2012 (n = 6814, response rate 79%). Disability retirees and those under the age of 50 at baseline were excluded. This yielded 2902 participants. Most of the participants (79%) were women. The mean age of the participants was 54.4 in phase 1. Negative binomial models for repeated measurements with generalized estimating equations (GEE) were used to calculate the incidence rate ratios (IRR) and 95% confidence intervals (CI). These indicated the changes in time spent in self-reported leisure-time physical activity among the retired compared with the continuously employed.ResultsOf the participants, 851 retired on the grounds of old age during the first period (phases 1–2), and 948 during the second period (phases 2–3). Change in physical activity was positive among those who retired during the first (IRR = 1.10, 95% CI 1.04–1.17) and second (IRR = 1.10, 95% CI 1.04–1.16) periods compared to the continuously employed. During the second period, there was little difference between those who had retired during the first one (IRR = 0.96, 95% CI 0.91–1.02) and the continuously employed.ConclusionsThe transition to statutory retirement was associated with an immediate increase in leisure-time physical activity, which nevertheless diminished during post-retirement years.

Female Faculty Memberss Investment Decision Making for Retirement Planning in the Shadow of Holistic Decision Making Model

Retirement planning is an integral part of financial planning for any individual. Every individual looks forward to spending the post retirement years in the lap of luxury. A person needs to take challenging investment decisions in order to optimally plan for retirement. These decisions as per finance theories have been motivated by reasoning while unfortunately the intuition aspect has been portrayed in a negative manner by behavioural finance advocates. Taking a clue from ‘MBA model’ proposed by eminent expert in Indian Management, Prof. Subhash Sharma, the Supervisor of the proposed doctoral work has extended the model by proposing a new model namely ‘Holistic Decision Making Model (HDMM)’ in a working research paper. Increasing the curiosity of the researcher, some past researches have hinted at efficacy of this model and the proposed research work seeks to explore the extent to which decision making is actually influenced by HDMM compared to behavioural finance. Furthermore the researcher seeks to evaluate attitude of female faculty members towards investment for retirement planning taking a sample of about 600 female teachers working in prominent institutions of Rajasthan. The outcome shall not only test efficacy of HDMM but also provide required guidelines to women to plan for retirement in better manner.In case the researcher can find some relevance of HDMM, it shall be a novel contribution in the field of Investment Management.

MORTALITY DECLINE, RETIREMENT AGE, AND AGGREGATE SAVINGS

We use an overlapping-generations model with endogenous retirement and saving to study the trade-off between saving and retirement age in response to mortality decline. When life expectancy increases by one year, people delay retirement by about four months. With this magnitude of delay in retirement age, the percentage of lifetime spent in working decreases, and people have to save more for postretirement years. Neither the pure form of sole adjustment through savings nor the proportionality hypothesis is consistent with our results, but the proportionality hypothesis is a better rule of thumb in predicting future behavior. Our choice of the modified Boucekkine et al. (2002) survival function gives a convenient one-to-one correspondence between life expectancy increase and a change in the survival parameter.

Essence of progress in geriatric cardiology.

Essence of progress in geriatric cardiology.

Retirement reduces antihypertensive medication adherence among hypertensive men and women

ObjectivesA rapidly increasing number of retirements is projected in most developed countries, with the oldest baby-boomer generation now reaching 65 years of age. We sought to determine whether retirement affects...