scholarly journals The Analysis of Predictors of Retirement Preferences over Time

2020 ◽  
Author(s):  
Patrick Pilipiec ◽  
Wim Groot ◽  
Milena Pavlova
Keyword(s):  
Job Satisfaction ◽  
Older Workers ◽  
Pension System ◽  
Labour Force ◽  
Personal Characteristics ◽  
University Education ◽  
Retirement Age ◽  
Net Income ◽  
Demographic Ageing ◽  
Over Time

Abstract Due to rapid demographic ageing and to sustain its pension system, the Netherlands recently initiated a pension reform that increased the retirement age, with the intention to increase labour force participation among older workers. However, there is little evidence on the preferences of workers concerning their retirement age, and on how these preferences have changed over time. To identify personal and work-related determinants of the preference toward earlier or later retirement, and how these determinants and preferences have changed over time. We use data from three consecutive measurements (waves) of a large Dutch panel. Ordered logit regression is used to investigate the predictors of retirement preferences. Analyses are performed for two groups; all workers and a subsample of workers aged 50 years or older. Furthermore, the analyses are performed for each wave separately and for the combined dataset. A preference for later retirement is primarily related to university education, high job satisfaction, and high income. Age is only positively related to later retirement among older workers. Earlier retirement is preferred by female workers and workers living with a partner. The preference toward an earlier retirement age has increased over time. The preferences toward retirement can be primarily explained by personal characteristics, job satisfaction, and net income. Furthermore, with the increase in the retirement age defined by current legislation, the preference for an earlier retirement age has increased over time.

scholarly journals An Attempt to Identify Factors Influencing Retirement Decisions in Poland

2018 ◽  
Vol 4 (336) ◽  
pp. 43-59
Author(s):  
Anna Ruzik-Sierdzińska
Keyword(s):  
Labour Market ◽  
Older Workers ◽  
Pension System ◽  
Labour Force ◽  
Economic Incentives ◽  
Economic Transformation ◽  
Retirement Age ◽  
Special Focus ◽  
Factors Influencing ◽  
Retirement Decisions

Discussions on how to prevent negative economic consequences of ageing of societies have resulted in the reforms that should prolong labour market participation and postpone retirement of longer living generations. Pension systems are among those reformed most frequently. Also in Poland – since the beginning of economic transformation in the early 1990s – retirement rules have changed many times. Pre‑retirement benefits and allowances have been introduced to help those who became unemployed at an older age. Since 2009 early retirement is not possible any more (with some exceptions), the standard retirement age continued to increase since 2013 and then it decreased again in 2017. The aim of the paper is to analyse the driving forces of retirement in Poland. Such knowledge is important to develop proper policies and expectations about labour supply decisions. We have analysed what factors influenced retirement decisions in the last decade, with a special focus on pension system regulations. The main data sources used in this paper are Labour Force Survey (BAEL) data for the years 2005–2016 and the Social Insurance Institution statistics. Probabilities of retirement from the labour force were presented and discussed. Then, individual BAEL data for persons aged 50–74 in the years 2013–2016 were used to estimate logistic regression models of odds of labour market inactivity. The results show that education or health status are significant factors influencing retirement decisions in Poland. Additionally, older workers react to economic incentives for retirement created by the pension system, mainly the retirement age.

The empirical landscape of extended working lives

2017 ◽  
Author(s):  
Debra Street
Keyword(s):  
Older Workers ◽  
Labour Force ◽  
Population Level ◽  
Labour Force Participation ◽  
Demographic Ageing ◽  
Unpaid Care ◽  
Working Lives ◽  
Dependency Ratios ◽  
Part Time ◽  
And Gender

Population-level factors associated with demographic ageing and policies intended to encourage older workers to extend working lives in Australia, Germany, Ireland, Portugal, Sweden, UK and US are documented in this chapter. Data are from international sources (mainly the Organisation for Economic Co-operation and Development and the CIA Factbook, to ensure comparability) derived from government agencies in the seven countries covered in this volume. Presenting population-level data for each country gives readers a starting point for considering how each nation compares to the others analysed in the later country chapters. Data related to demographic ageing, including patterns in longevity, proportion of national populations aged 65+, and country-specific dependency ratios are presented first. These set the stage for understanding the potential gendered implications of demands for older workers to postpone retirement and extend their working lives. Additional comparative data provided in this chapter include nation-specific patterns of women's and men's labour force participation, gender pay and gender pension gaps, typical retirement ages, and a summary of older worker's recent experiences in the labour market. Patterns of unpaid care work, time use, and full-time versus part-time employment are also compared to provide a foundation against which readers can assess the prospects for older workers in general, and the particular disadvantages faced by older women in particular, when governments demand that individuals postpone retirement and work longer.

Job Satisfaction Declines in Late Work Life – A Time-to-Retirement Approach

2021 ◽  
Author(s):  
Georg Henning ◽  
Graciela Muniz-Terrera ◽  
Andreas Stenling ◽  
Martin Hyde
Keyword(s):  
Job Satisfaction ◽  
Older Workers ◽  
Time Trends ◽  
Working Life ◽  
Retirement Age ◽  
Historical Time ◽  
Late Work ◽  
Aging Society ◽  
German Socioeconomic Panel ◽  
Linear Decline

Job satisfaction has previously been found to increase across the life span. However, few studies have focused on the very last years of working life. We applied a time-to-retirement approach to job satisfaction and investigated change in job satisfaction in the ten years before retirement in the German Socioeconomic Panel (GSOEP, n = 2,619). Job satisfaction showed a small non-linear decline as people approached retirement. An older retirement age was associated with lower job satisfaction before retirement, but not with change before retirement. Because the GSOEP spans from 1984 until 2019, we were able to investigate historical time trends. Overall levels of pre-retirement job satisfaction seem to have decreased since the mid-1980s, but intra-individual declines before retirement seem to have become smaller. Further analyses showed the association between job satisfaction and life satisfaction declined when people were nearing retirement. This may be a sign of disengagement from work and a shift of focus to other areas of life in preparation for retirement. Our results show the usefulness of a time-to-retirement approach and the importance of taking the last work years into account when discussing the satisfaction and motivation of older workers in an aging society.

Older Workers and the Peripheral Workforce: The Erosion of Gender Differences

1988 ◽  
Vol 8 (1) ◽  
pp. 43-62 ◽  
Author(s):  
Angela Dale ◽  
Claire Bamford
Keyword(s):  
Gender Differences ◽  
Older Workers ◽  
Labour Force ◽  
Retirement Age ◽  
Employment Rate ◽  
Full Time ◽  
Labour Force Survey ◽  
Men And Women ◽  
Using Data

ABSTRACTAt a time when the proportion of full-time permanent jobs is decreasing and there is evidence of a growth in ‘peripheral’ forms of work, it is important to review the position of older workers, both men and women. Using data from the Labour Force Survey of 1984, it is shown that, while the employment rate falls sharply in the ten-year period prior to state retirement age, it is only those of post-retirement age who are disproportionately represented in peripheral forms of work. It is suggested that some ‘peripheral’ forms of work allow greater flexibility in age of retirement than permanent full-time jobs. While there are clear gender differences among those of pre-retirement age, with a higher proportion of women than men in peripheral jobs, there is a marked erosion of these gender differences amongst men and women who work beyond state retirement age.

Population Ageing in Russia: Main Factors, Characteristics and Consequences

2016 ◽  
Vol 4 (2) ◽  
pp. 22-27
Author(s):  
Дудко ◽  
K. Dudko ◽  
Щербаков ◽  
A. Shcherbakov
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Population Ageing ◽  
Retirement Age ◽  
Key Factors ◽  
Demographic Ageing ◽  
Demographic Situation ◽  
Active Population ◽  
Great Patriotic War ◽  
Main Factors

The article considers the main identifying features of the global demographic trend — population ageing. The mortality and fertility rates, the correlation between young and elderly people, migration and wars are the key factors which influence demographic ageing process. The Great Patriotic War and the socioeconomic reforms of 90th years have had the most significant impact on the demographic situation in Russia. Today, Russian pension system cannot overcome the consequences of rapid population ageing. The pension system continues to improve for increasing the financial efficiency and reducing of the tax burden on the economically active population. For above mentioned reasons the next step of innovative pension reform relates with the increase of the women’s retirement age.

Determinants of Work Motivation and Work Satisfaction among Kibbutz Aged Workers

1992 ◽  
Vol 11 (2) ◽  
pp. 49-64 ◽  
Author(s):  
Uriel Leviatan
Keyword(s):  
Older Workers ◽  
Work Motivation ◽  
Labour Force ◽  
Age Groups ◽  
Psychological Needs ◽  
Higher Order ◽  
Relative Advantage ◽  
Retirement Age ◽  
Physical Conditions ◽  
Younger Workers

The paper first explains why industrial societies will shortly need to increase their labour force by including persons of post current retirement age. It then presents two contrasted hypotheses to explain older workers' satisfaction with, and motivation in their work roles: Hypothesis (a), a “focus on compensation” which suggests that older workers seek compensation for deterioration in their sensory-motor potentials; Hypothesis (b), a “focus on relative advantage” which suggests that older workers seek to exploit their relative advantages, namely, their cognitive-emotional abilities and potentials. Reactions would be affected more by opportunities for satisfaction of psychological, higher order needs rather than opportunities for satisfying bodily needs. Validity of Hypothesis (b) is tested by a study of kibbutz workers (235) distributed about equally between the two genders and among three age groups (45-57; 58-67; 68 and over). Results of the analyses support Hypothesis (b) and its derivations. Older workers desire job characteristics that offer opportunities for satisfaction of higher order psychological needs more than they desire characteristics that offer better physical conditions and convenience at work. The former characteristics explain more than the latter characteristics, variance in “satisfaction with work” and variance in “motivation to contribute to job.” The discussion ends with suggestions for further study to answer questions such as: how and when to train workers to prepare them for jobs appropriate at very advanced ages beyond the currently normative retirement age; what should be the structure of jobs fit for older workers; how should they be integrated in work organizations with younger workers; where should the locus of decision regarding these questions be?

ECONOMIC ACTIVITY OF ELDERLY PEOPLE

2021 ◽  
Vol 2021 (4) ◽  
pp. 88-99
Author(s):  
Vitalii MORTIKOV
Keyword(s):  
Older People ◽  
Economic Activity ◽  
Older Workers ◽  
Pension System ◽  
The Elderly ◽  
Retirement Age ◽  
Elderly Workers ◽  
Regional Labor ◽  
Working Age

The economic activity of the elderly is becoming increasingly important with the aging of the population and the extension of the education of young people. Older people have experience, knowledge, which is an important component of human capital of modern organizations and countries in general. Meanwhile, in Ukraine, according to statistics, the economic activity of the elderly has decreased significantly during the 2008-2018 period. Most elderly workers are among the specialists and representatives of the simplest professions. Data on the registered statistics of economic activity of elderly in the regions of Ukraine are weakly correlated with the situation on regional labor markets. This is due, in particular, to the significant shadow component of employment in this age group. There are both positive and negative aspects of economic activity of older people. Despite the benefits of using the labor of older people, they compete for jobs with people of active working age, their involvement is more expensive for employers. With this in mind, regulating the use of human resources of older workers is necessary to maintain the labor balance in the country as a whole, as well as in regions and individual organizations. The article determines which decisions of the elderly the state can influence: retirement earlier than the normal retirement period; exit after reaching this age; continuation of economic activity outside the retirement age, i.e later retirement. The tools of influencing the economic activity of the elderly are the pension system, the creation of jobs taking into account the interests of older workers, improving the quality of their work, combating age discrimination. It is shown that changes in the pension system of Ukraine in 2017 contribute to the intensification of economic activity of persons of pre-retirement and retirement age.

scholarly journals The impact of notional defined contribution system (NDC) from the point of view of individual

2014 ◽  
pp. 96-105
Author(s):  
Milda Švedienė ◽  
Astrida Slavickienė
Keyword(s):  
Interest Rate ◽  
Pension System ◽  
Labour Force ◽  
Point Of View ◽  
Pension Benefit ◽  
Pension Scheme ◽  
Retirement Age ◽  
Defined Contribution ◽  
Notional Defined Contribution ◽  
The Impact

Retirement benefit plans are the relevant theme in the world and in Lithuania as well. The demographic challenges such as ageing and shrinking labour force cause the problem which usual PAYG system is not able to solve. Whereas this problem is very important in Lithuania simulation of notional defined contribution system is suggested. The influence of new pension system to individuals is analysed in this paper.  The analysis of theoretical works showed that NDC system is defined contribution (DC) system financed as in pay-as-you-go (PAYG) system. This pension scheme is different from others because of it accounting mechanism: contributions of individuals are accumulated on their individual accounts but whereas real capital is not accumulated the balance is notional. All accumulated sum is converted to pension benefit when individuals are at retirement age depending on cohort’s life expectancy. It is said that NDC pension system helps to solve problems such as sensitivity to changes in economic growth, decreasing volume of savings or create a better link between contributions and benefits.  Nevertheless it is recognized that benefit return in NDC pension system is less than in usual defined contribution system. The results of simulation have showed that notional defined contribution system in Lithuania would not be the way out from problems in pension system. The system would be balanced in 30-year period and indexation would be acceptable for individuals but from 2040 interest rate would be reduced by the relevant part of the balance ratio. Depending on the changes in interest rate from 2040 notional capital would be less than all sum of contribution paid and it would negatively impact individuals’ finances. It was found that the more years individuals spend in labour market the bigger capital they accumulate and the bigger benefit get when they are at retirement age. Nevertheless it was noticed that replacement rate would be approximately 25 percent and it would not be adequate for the required use of retirees.

Power Values and Power Distance Moderate the Relationship Between Workplace Supervisory Power and Job Satisfaction

2020 ◽  
Vol 19 (3) ◽  
pp. 135-141
Author(s):  
Kenneth D. Locke
Keyword(s):  
Job Satisfaction ◽  
Multilevel Modeling ◽  
Power Distance ◽  
European Social Survey ◽  
Social Survey ◽  
The Relationship ◽  
Workplace Power ◽  
Over Time

Abstract. Person–job (or needs–supplies) discrepancy/fit theories posit that job satisfaction depends on work supplying what employees want and thus expect associations between having supervisory power and job satisfaction to be more positive in individuals who value power and in societies that endorse power values and power distance (e.g., respecting/obeying superiors). Using multilevel modeling on 30,683 European Social Survey respondents from 31 countries revealed that overseeing supervisees was positively associated with job satisfaction, and as hypothesized, this association was stronger among individuals with stronger power values and in nations with greater levels of power values or power distance. The results suggest that workplace power can have a meaningful impact on job satisfaction, especially over time in individuals or societies that esteem power.

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