The Early Retirement Age of the Hungarian Judges

2017 ◽  
pp. 471-488 ◽  
Author(s):  
Gábor Halmai
Keyword(s):  
Early Retirement ◽  
Retirement Age

scholarly journals Actuarial deductions for early retirement

2021 ◽  
pp. 1-27
Author(s):  
Markus Knell
Keyword(s):  
Early Retirement ◽  
Pension System ◽  
Budget Constraint ◽  
Retirement Age ◽  
Single Individual ◽  
Internal Rate Of Return ◽  
Market Interest Rate ◽  
Long Run ◽  
Retirement Behavior ◽  
The Right

Abstract This paper studies how the rates of deduction for early retirement have to be determined in pay-as-you-go (PAYG) systems in order to keep their budget stable. The derivation of these deductions requires the use of a multiperiod intertemporal budget constraint that involves assumptions about the retirement behavior of past, present, and future cohorts. In general, it is not possible to calculate budget-neutral deductions from the budget constraint of a single individual who retires before the target retirement age—an approach that dominates the related literature. Only for specific cases one can use this second approach but then one has to adjust the discount rate to the assumption about collective retirement. If there is only one deviating individual, then the right choice is the market interest rate while for a stationary retirement distribution it is the internal rate of return of the PAYG system. In this case, the necessary deductions are lower than under the standard approach. This is also true for retirement ages that fluctuate randomly around a stationary distribution. Various long-run developments (e.g., increases in life expectancy or permanent changes in the average retirement age) might cause challenges for the sustainability of the pension system. These developments, however, can only be dealt with by adequate adjustments to the basic pension formulas and not by the use of deduction rates.

scholarly journals Employees’ Longer Working Lives in Europe: Drivers and Barriers in Companies

2020 ◽  
Vol 17 (5) ◽  
pp. 1658
Author(s):  
Andrea Principi ◽  
Jürgen Bauknecht ◽  
Mirko Di Rosa ◽  
Marco Socci
Keyword(s):  
Working Conditions ◽  
Older Workers ◽  
Early Retirement ◽  
Working Life ◽  
Retirement Age ◽  
European Level ◽  
The Public ◽  
Working Lives ◽  
Market Factors ◽  
Legal Retirement Age

This paper identifies, within companies’ sectors of activity, predictors of Human Resource (HR) policies to extend working life (EWL) in light of increasing policy efforts at the European level to extend working life. Three types of EWL practices are investigated: the prevention of early retirement (i.e., encouraging employees to continue working until the legal retirement age); delay of retirement (i.e., encouraging employees to continue working beyond the legal retirement age); and, recruitment of employees who are already retired (i.e., unretirement). A sample of 4624 European organizations that was stratified by size and sector is analyzed in six countries. The main drivers for companies’ EWL practices are the implementation of measures for older workers to improve their performance, their working conditions, and to reduce costs. In industry, the qualities and skills of older workers could be more valued than in other sectors, while the adoption of EWL practices might be less affected by external economic and labor market factors in the public sector. Dutch and Italian employers may be less prone than others to extend working lives. These results underline the importance of raising employers’ awareness and increase their actions to extend employees’ working lives by adopting age management initiatives, especially in SMEs, and in the services and public sectors.

Impact of work injury on early retirement among older Australian workers

2020 ◽  
Vol 26 (1) ◽  
pp. 18-21
Author(s):  
Irene Mok
Keyword(s):  
Older Workers ◽  
Early Retirement ◽  
Economic Consequences ◽  
Retirement Age ◽  
Work Injury ◽  
Work Centrality ◽  
Rehabilitation Professionals ◽  
Survey Results ◽  
Expected Retirement Age ◽  
Need For Rehabilitation

AbstractA total of 274 Australian workers aged 45 years and above completed a Work, Retirement, and Health Survey. Results indicated that older workers with work injury have significantly lower expected retirement age compared to those without work injury. The results also indicated that this pattern is still apparent among intrinsically work motivated older workers with high score on self-reported work centrality. Older workers with work injury appear more vulnerable to premature retirement, which has significant negative social and economic consequences for workers, employers, and rehabilitation professionals. It also appears there is a complex relationship between ageing and work injury and the need for rehabilitation professionals to consider work injury prevention strategies for older workers.

scholarly journals Can't wait to get my pension: the effect of raising the female early retirement age on income, poverty and deprivation

2018 ◽  
Vol 18 (3) ◽  
pp. 450-472 ◽  
Author(s):  
JONATHAN CRIBB ◽  
CARL EMMERSON
Keyword(s):  
Early Retirement ◽  
Poverty Rate ◽  
Living Standards ◽  
Income Poverty ◽  
Retirement Age ◽  
Pension Income ◽  
Proportional Effect ◽  
The Uk ◽  
Household Incomes ◽  
The Impact

AbstractWe estimate the impact of increasing the female early retirement age (ERA) on household living standards. Examining the increase in the female ERA from 60 to 63 in the UK, we find increased earnings only partially offset lost public pension income, leaving affected women's household incomes £32 per week lower on average. The proportional effect was substantially larger for women in lower income households. This increased the income poverty rate among affected women by 6.4 percentage points. We find no evidence of an increased inability to afford important material items, potentially suggesting that material deprivation has been avoided through smoothing of consumption.

scholarly journals On the Fairness of Early-Retirement Provisions

2010 ◽  
Vol 11 (1) ◽  
pp. 60-77 ◽  
Author(s):  
Friedrich Breyer ◽  
Stefan Hupfeld
Keyword(s):  
Discount Rate ◽  
Early Retirement ◽  
Pension System ◽  
Retirement Age ◽  
Annual Income ◽  
The Public ◽  
Public Pension System ◽  
Retirement Benefit ◽  
German System ◽  
Crucial Parameter

Abstract A crucial parameter for increasing the retirement age is the early retirement discount of the public pension system. Critics of the present German system argue that the downward adjustment of the pension for early retirees is too small compared with a ‘fair’ system and thus encourages early retirement. We discuss several notions of ‘fairness’ of early-retirement provisions and propose a concept called ‘distributive neutrality’, which states that the ratio between total benefits and total contributions should not depend systematically on the individual’s ability. By applying this concept to the German retirement benefit formula and taking empirically estimated relationships between annual income (as a proxy for ability), life expectancy and retirement age into account, we show that at the present discount rate of 3.6% per year there is redistribution from low to high earners, which, surprisingly, could be attenuated by raising the discount rate.

scholarly journals Analysis Of Faculty Retirement Intention: Using A Proportional Odds Model

2011 ◽  
Vol 17 (3) ◽  
Author(s):  
Bahman Bahrami ◽  
Jerome W. Stockrahm
Keyword(s):  
Decision Making ◽  
Early Retirement ◽  
National Sample ◽  
Mandatory Retirement ◽  
Retirement Age ◽  
Factors Affecting ◽  
Retirement Incentives ◽  
Retirement Decisions ◽  
Faculty Retirement ◽  
Expected Retirement Age

This paper uses data from a random national sample of faculty, age 50 and older, and explores factors affecting faculty member's retirement decisions for three expected retirement age categories.  The variables such as end of mandatory retirement, age, current salary, expected others sources of income, early retirement incentives, and years of education have a significant effect on faculty retirement decisions.  An understanding of these factors can help decision making for staffing purposes.

Attritie bij senior leerkrachten: oorzaken en motieven van hun (vroegtijdige) uittrede

2013 ◽  
Vol 29 (1) ◽  
Author(s):  
Filip van Droogenbroeck ◽  
Mark Elchardus ◽  
Jessy Siongers ◽  
Bram Spruyt
Keyword(s):  
Linear Regression ◽  
Emotional Exhaustion ◽  
Early Retirement ◽  
Positive Attitude ◽  
Multivariate Linear Regression ◽  
Important Influence ◽  
Retirement Age ◽  
Early Exit ◽  
Retirement Decision ◽  
Retired Teachers

Attrition amongst senior teachers: Causes and motives of their (early) retirement Attrition amongst senior teachers: Causes and motives of their (early) retirement In several countries teachers retire earlier than the official retirement age. This article examines the causes and motives of (early) retirement amongst senior teachers aged between 45 and 65 in Flanders. Using multivariate linear regression we analyse the preferred retirement age of working teachers (n = 1.878) and the actual retirement age of retired teachers (n = 1.246). Teachers who feel financially secure, have a working partner and have a positive attitude towards retirement, stop working earlier. Also emotional exhaustion and dissatisfaction with non-teaching related workload (such as meetings, administration) has an important influence on the retirement decision. Results show that the majority of teachers make use of early exit schemes which illustrates a widespread ‘early exit culture’ amongst senior teachers.

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