scholarly journals Retirement timing in Italy: rising age and the advantages of a stable working career

2020 ◽  
pp. 1-19
Author(s):  
Marco Trentini
Keyword(s):  
Older Workers ◽  
Pension Reform ◽  
Retirement Age ◽  
Time Model ◽  
Work History ◽  
Involuntary Retirement ◽  
Kaplan Meier ◽  
Retirement Timing ◽  
And Gender ◽  
The Stability

Abstract This article looks at how retirement timing is changing in Italy. A first aim is descriptive and it is to identify recent trends in retirement age, following the pension reform. Then the focus is on factors which may favour or hinder the extension of the working career of older workers. They are studied by looking at the reasons for retirement, introducing the distinction between voluntary and involuntary retirement, and some predictors of retirement. Some of them relate to the work history of individuals, in particular the stability/instability of careers due to episodes of unemployment. The level of education and gender, two variables that may affect the employability of older workers, have also been considered. The study is based on a longitudinal analysis (Kaplan–Meier survival estimates of transition to retirement and binomial logit discrete-time model for the analysis of retirement predictors) of the Survey of Health, Ageing and Retirement in Europe (SHARE) Job Episodes Panel data. They refer to a sample of 1,999 individuals born between 1911 and 1959. Although the various pension reforms initiated in Italy in the 1990s have not yet been fully implemented, retirement age is rising, even in the case of involuntary retirement. Regarding work history, the advantages of a working career with a small number of unemployment episodes emerge from the study.

Older adults’ accounts of the relationships between retirement timing and health: a descriptive qualitative analysis in Chile

2020 ◽  
pp. 1-25 ◽  
Author(s):  
Robin Shura ◽  
Sebastian Opazo ◽  
Esteban Calvo
Keyword(s):  
Older Adults ◽  
Lower Class ◽  
Population Based ◽  
Retirement Age ◽  
Occupational Class ◽  
Framework Analysis ◽  
Retirement Timing ◽  
Important Health ◽  
Gendered Patterns ◽  
And Gender

Abstract Retirement timing can have important health implications. Little is known, however, about older adults’ views on this issue and whether they consider it better to retire later, earlier, on time or anytime. This knowledge gap about older adults’ views is particularly true outside North America and Europe. This qualitative study aims to examine older Chileans’ ideas about the relationship between retirement timing and health and to explore gender and class patterns in qualitative themes identified, knowledge which may strengthen quantitative population-based approaches. Framework analysis was conducted on qualitative accounts from a purposive, non-random sample of 40 older Chileans in six focus groups, stratified by gender and class as marked by lifetime occupation. Transcriptions were coded by two independent reviewers (inter-coder reliability = 81%) according to four deductive categories of retirement timing as well as inductive coding of emergent themes. The content and sequence of codes were visually represented in MAXQDA's document portraits and illustrated with descriptive quotes. Results indicate that participants’ views about when to retire in order to maximise health did not highlight retirement age or timing (later, earlier, on time, anytime). Instead, these older Chileans emphasised that the optimal retirement age depends on other conditions, such as employment quality, retirement income and gender. These views were patterned: lower occupational-class participants emphasised income and job hazards, higher-class males emphasised job satisfaction and higher-class females emphasised gendered patterns. Women and lower-class participants were relatively more favourable to earlier retirements than men and higher-class participants. Overall, qualitative analyses of lay perspectives from understudied country contexts complement and extend population-based models focused on timing or retirement age, suggest specific characteristics of retirement transitions that may moderate health consequences, and highlight class and gender differences in views of retirement timing. More research is needed using mixed-methods approaches and leveraging both purposive and random samples.

scholarly journals Persons of Pre-Retirement Age in the Labour Market: Employment Problems and Support Measures

2020 ◽  
Vol 16 (4) ◽  
pp. 1178-1192
Author(s):  
Natalya A. Chernykh ◽  
Anna N. Tarasova ◽  
Andrey E. Syrchin
Keyword(s):  
Labour Market ◽  
Older Workers ◽  
Pension Reform ◽  
Economic Incentives ◽  
Age Discrimination ◽  
Government Support ◽  
Retirement Age ◽  
Support Measures ◽  
Employment Sector ◽  
The Government

The problem of age discrimination in the labour sector has become even more relevant, as the increase in the retirement age and the COVID-19 pandemic in Russia reinforce ageism. The article aims to assess the incidence of age discrimination in the labour market of the Sverdlovsk Region and examine employers’ behaviour towards people nearing retirement. The mixed methodology includes quantitative (analysis of statistics, questionnaire survey, content analysis) and qualitative (in-depth interviews with employers) research methods. While in the 1990s age discrimination was evident and expressed in the exclusion of older workers from the employment sector, now age discrimination is latent and has different manifestations. The results showed that people aged over 45 have less job opportunities in the labour market. Thus, most of them choose to maintain employment. This strategy, however, does not protect against other discriminatory practices such as displacement to less paid positions, reduced pay rate, etc. This situation leads to the decrease in the average wage of workers aged 50-55 by approximately 25%. We can conclude that employers did not change their behaviour and continue using discriminatory practices to maximise the return on human capital, shifting the risks of pension reform to employees. The government is trying to smooth over the differences between the effectiveness of the regional economic system, focused on maximising the use of regional human resources, and the effectiveness of individual organisations by protecting labour rights and promoting the employment of people nearing retirement. However, the government support measures mainly focus on training or retraining of people aged over 50, while employers lack economic incentives to reconsider their attitude towards older workers. Thus, we recommend developing governmental mechanisms for encouraging employers to change their personnel policy concerning employees aged over 50.

scholarly journals In medio stat victus: Labor Demand Effects of an Increase in the Retirement Age

2021 ◽  
Author(s):  
Tito Boeri ◽  
Pietro Garibaldi ◽  
Espen R. Moen
Keyword(s):  
Older Workers ◽  
Pension Reform ◽  
Labor Demand ◽  
Employment Protection ◽  
Retirement Age ◽  
Sudden Increase ◽  
Social Security Administration ◽  
Protection Legislation ◽  
Lock In ◽  
Unique Dataset

AbstractAfter falling for four decades, statutory retirement ages are increasing in most OECD countries. The labor market adjustment to these reforms has not yet been thoroughly investigated by the literature. We draw on a major pension reform that took place in Italy in December 2011 that increased the retirement age by up to six years for some categories of workers. We have access to a unique dataset validated by the Italian social security administration (INPS), which identifies in each private firm, based on an administrative exam of eligibility conditions, how many workers were locked in by the sudden increase in the retirement age, and for how long. We find that firms mostly affected by the lock in are those that were downsizing even before the policy shock. The increase in the retirement age seems to displace more middle-aged workers than young workers. Furthermore, there is not a one-to-one increase in the number of older workers in the firms where some workers were locked in by the reform. We provide tentative explanations for these results, based on the interaction between retirement, employment protection legislation and liquidity constraints of firms.

scholarly journals Why Retirement and Age Discrimination Policies Need to Consider the Intersectional Experiences of Older Women

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 809-809
Author(s):  
Patrick Button ◽  
Theodore Figinski ◽  
Joanne Song McLaughlin ◽  
Ian Burn
Keyword(s):  
Older Women ◽  
Age Discrimination ◽  
Policy Implications ◽  
Security Policies ◽  
Retirement Age ◽  
Retirement Savings ◽  
Work History ◽  
Retirement Security ◽  
Full Benefit ◽  
And Gender

Abstract We summarize how older women face intersectional experiences that affect their retirement security. These include differential trends in aging, life expectancy, labor supply, work history, retirement savings, and poverty at old age. We also highlight research showing that older women experience significantly more age discrimination than older men. affecting the ability for older women to improve their retirement security by working longer. We demonstrate through examples that these differential trends and intersectional experiences of older women have important policy implications. We provide examples of how Social Security policies, such as increases in the full benefit retirement age and changes to the retirement earnings test, have differential effects on older women. We also discuss how age and gender employment discrimination law fails to protect older women from intersectional sex-plus-age discrimination. We conclude by urging policymakers to consider how older women experience different challenges and how policy should consider their unique experiences.

The demand for older workers and age discrimination: International experience and Russian realities

2019 ◽  
pp. 99-121
Author(s):  
Maria A. Ivanova
Keyword(s):  
Labor Market ◽  
Older Workers ◽  
Pension Reform ◽  
International Experience ◽  
Age Discrimination ◽  
Retirement Age ◽  
Employment Policy ◽  
Negative Effects ◽  
Macroeconomic Analysis ◽  
High Age

This paper is devoted to the analysis of the demand for older workers and age discrimination in the Russian labor market. The recent pension reform has brought widespread attention to these issues. Macroeconomic analysis showed that, despite the growth in the retirement age population and the increase in their presence in the labor market over the past decade, the demand for older workers has still been limited. One of the reasons for this situation is the relatively high age discrimination both in society and in the Russian labor market. Given this circumstance, raising retirement age should be accompanied by demandside efforts such as improving age discrimination legislation and age-friendly employment policy. The analysis of extensive international experience allows us to develop recommendations that will help smooth out negative effects of raising retirement age for certain categories of workers.

Widowhood and Retirement Timing: Evidence from the Health and Retirement Study

2018 ◽  
Vol 18 (3) ◽  
Author(s):  
Philipp Schreiber
Keyword(s):  
Older Workers ◽  
Early Stage ◽  
Low Fertility ◽  
Health And Retirement Study ◽  
Retirement Age ◽  
Retirement Plans ◽  
Skilled Workers ◽  
Health And Social Care ◽  
Retirement Timing ◽  
Retirement Study

AbstractThe combination of an increasing life expectancy, low fertility rates, and an early effective retirement age creates a pressure to act for governments and organizations. The pay-as-you-go social security systems of many countries are troubled by the increasing ratio of retirees to working people. In addition, many organizations face difficulties caused by a shrinking workforce and the accompanied shortage of skilled workers. To counteract, it is essential to create an environment in which older workers are encouraged to stay in the workforce. Therefore, it is important to understand which factors influence the retirement timing decision of workers. This study analyzes how widowhood and changes in demographic, health-related, and financial factors lead to changes in retirement plans of Health and Retirement Study (HRS) respondents. I compare respondents’ actual retirement age with their retirement plans elicited in the HRS wave prior to retirement. The strongest change in retirement timing is caused by widowhood. Respondents who become widowed retire on average 1.7 years earlier than previously planned. The estimated effect of widowhood goes beyond the deterioration of physical health and mental health. My findings suggest that an intervention in an early stage after widowhood by the employer or by health and social care services can help the widowed employee to overcome the temporary adverse effects of widowhood and to prevent a precipitous retirement decision.

Retirement - Not Necessarily a Farewell to Work Life

2012 ◽  
pp. 87-98
Author(s):  
Anne Inga Hilsen ◽  
Robert Salomon
Keyword(s):  
Older Workers ◽  
Pension Reform ◽  
Working Life ◽  
Work Life ◽  
Retirement Age ◽  
Managerial Practices ◽  
Three Phase ◽  
Social Link ◽  
The Uk ◽  
Life Work

Due to financial and demographic reasons, many countries are trying to increase the actual retirement age. Pension reforms are taking place in countries such as France, Greece and the UK. Norway has recently introduced a new pension reform from January 1st 2011 to encourage longer work life careers. These reforms may lead to a variety of options on life/work balance choices at the later stages of working life. Based on earlier studies, the article illustrate the identification of a three overlapping phases of good managerial practices and worker responses affecting the employment of older workers by developing an analytical model ("a three phase perspective on senior policies") of organisational orientations towards older workers. This paper focuses on a possible fourth phase at the end of the working career as well as the transition from work to retirement. The fourth phase consists of both an economic and a social link between employer and employee.

scholarly journals Social Challenges of the New Pension Reform in the Current Demographic Situation in Rossiya

2019 ◽  
Vol 15 (1) ◽  
pp. 59-64
Author(s):  
Valentina Dobrokhleb
Keyword(s):  
Life Expectancy ◽  
Older Workers ◽  
Pension Reform ◽  
Practical Importance ◽  
Developed Countries ◽  
High Tech ◽  
Retirement Age ◽  
Demographic Situation ◽  
Social Challenges ◽  
Demographic Aging

The Object of the Study, is the social challenges associated with the new pension reform in Rossiya. The Subject of the Study is the current demographic situation. One of the main civilizational challenges in Russia today is the demographic situation caused by the change in the age structure of the population – the birth rate is falling, the proportion and number of children's cohorts are decreasing, and the number of elderly people is steadily increasing. In our country, in accordance with the Federal law "On Amendments to Certain Legislative Acts of the Russian Federation on the Appointment and Payment of Pensions", an increase in the retirement age has been approved. Changes in legislation to raise the retirement age in Russia are conducted in conditions of low life expectancy in comparison with other countries, as well as without taking into account the fact that the Russian regions are "aging" in different ways. If we talk about the regions, the oldest of them is the Tula Oblast’, where the number of citizens belonging to the category 60+ reaches 18.2 percent, and the youngest is considered to be Chechnya, in which such people are 4.3 percent, that is, the "geographical" gap is also very significant. The Main Theoretical Provisions of practical importance are that in the context of the adoption of the new pension reform, the main social challenges are: low life expectancy as well as low compared with economically developed countries, the survival of the elderly and old people; the continuing gap in the life expectancy of men and women, while the life expectancy of women is higher than that of men, and the level of their health is lower; the lack of a clear system of advanced training of older workers, including in the pre-retirement age; low rates of creation of new high-tech jobs in the country; poverty of the population due to the low level of wages; significant regional differences in the rate of demographic aging and in access to jobs, including high-tech. All this requires the adoption of effective management decisions to achieve the goals of economic development of the country, scheduled up to 2024.

STUDY OF THE IMPACT OF RAISING THE RETIREMENT AGE ON ECONOMIC GROWTH IN THE DIGITAL ECONOMY IN RUSSIA AND EUROPE

2020 ◽  
Author(s):  
Svetlana Apenko ◽  
◽  
Olga Kiriliuk ◽  
Elena Legchilina ◽  
Tatiana Tsalko ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Economic Policy ◽  
Labor Relations ◽  
Pension Reform ◽  
Digital Economy ◽  
Institutional Changes ◽  
Retirement Age ◽  
The Impact

The article presents the results of a study of the impact of pension reform in Russia on economic growth and quality of life in a digital economy, taking into account the experience of raising the retirement age in Europe. The aim of the study was to identify and analyze the impact of raising the retirement age on economic growth in the context of the development of digitalization in Russia and a comparative analysis with European countries. Results: the studies conducted allowed us to develop a system of indicators characterizing the impact of raising the retirement age on economic growth and the quality of life of the population in the context of digitalization. The authors found that raising the retirement age leads to a change in labor relations in Russia and Europe. The application of the proposed indicators can be used in the formation of a balanced state socio-economic policy in the field of institutional changes in the field of labor relations and raising the retirement age. The study was carried out under a grant from the RFBR № 19-010-00362 А.

Pension Reform in Russia: Assessing the Susceptibility of GDP Production to a Shift in the Number of the Working-Age Population

2019 ◽  
pp. 80-86
Author(s):  
T. P. Skufina ◽  
S. V. Baranov
Keyword(s):  
Pension Reform ◽  
Fixed Capital ◽  
Economic Effects ◽  
Pension Scheme ◽  
Retirement Age ◽  
Working Age ◽  
Working Age Population ◽  
Long Term Forecasting ◽  
The Impact

The presented study considers the susceptibility of gross domestic product (GDP) production to a shift in the number of the working-age population due to an increase in retirement age starting with 2019.Aim. The study aims to examine the quantitative assessments of GDP production in Russia with allowance for the changes in the number of the working-age population due to an increase in the actual retirement age.Tasks. The authors forecast the number of the working-age population with allowance for an increase in the retirement age; develop a model to establish a correlation between the number of the workingage population, investment in fixed capital, and GDP production; quantify the impact of the shift in the number of the working-age population on GDP production in Russia. Methods. This study is based on the results of modeling and long-term forecasting.Results. An economic-mathematical model to establish a correlation between the number of the working-age population, investment in fixed capital, and GDP production is presented. To specify the economic effects of a shift in the number of the working-age population due to an increase in the retirement age, Russia’s GDP production is forecasted for the “old” and “new” (increased retirement age) pension scheme. The forecast is provided for three variants of the number of the working-age population.Conclusions. It is found that with the “old” pension scheme with a lower retirement age GDP production across all three variants will decrease by 2036 compared to 2017. With regard to the “new” scheme that increases the retirement age, it is concluded that an increase in the retirement age is a factor that facilitates GDP production. However, its effect on economic growth will be insignificant.

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