Retirement Age
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2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Hila Axelrad ◽  
Alexandra Kalev ◽  
Noah Lewin-Epstein

PurposeHigher pensionable age in many countries that are part of Organization for Economic Co-operation and Development (OECD) and a shrinking pension income force older people to postpone their retirement. Yet, age-based discrimination in employers' decisions is a significant barrier to their employment. Hence, this paper aims to explore employers' attitudes regarding the employment of workers aged 60–70, striving for a better understanding of age discrimination.Design/methodology/approachThe authors used a thematic analysis of semi-structured interviews with 30 managers, experts and employees in retirement age in Israel.FindingsFindings reveal a spectrum of employers' attitudes toward the employment of older workers. The authors' analytical contribution is a conceptual typology based on employers' perceived ability to employ older workers and their stated attitudes toward the employment of older workers.Social implicationsThe insights that emerge from this research are fundamental for organizational actors' ability to expand the productive, unbiased employment of older workers.Originality/valueBy understanding employers' preferences and perspectives and the implications on employers' ability and/or willingness to employ older workers, this research will help policymakers formulate and implement policy innovations that address these biases.

2021 ◽  
Vol 4 (3) ◽  
pp. 73-86
Samuel R. ◽  
Ajibose K.A.

Consequently, upon many decades of inefficient and corrupt pension management system in Nigeria, public servants in Nigeria dreaded retirement because of the reported plight of retirees who were seen dying on queues or living under the bridges at the Federal Capital City of Abuja. While an average worker in other parts of the world looks forward to a decent and enjoyable post-work life, Nigerians lived in fear of ageing and retirement resulting in several malpractices such as multiple declarations of age with intent to keep them at work far past the official retirement age. Factors arising from pension inadequacies, poor funding, embezzlements and long arrears especially in the public sector led to the initiatives for restructuring of the country’s pension system and the enactment of the Pension Reform Act of 2004 and its review Act of 2014. The reforms aimed at making pension administration more effective, efficient, to make and improve on the question of adequacy and fund security. However, key problems in the management of the new pension system involve the perception of the degree and significance of its impact and whether key objectives are satisfied according to the intent of the reforms. This study was designed to examine whether the reforms have contributed significantly to addressing employees' post-work-life concerns and how such assessments impact their performance. Specifically, the paper examines if a relationship exists between the new pension reform act and employee retention, as well as organizational performance using a sample of employees of Nigerian Distilleries Ltd. Three hypotheses were tested at a 0.05 level of significance, using the inferential statistics of Regression Analysis with the aid of Statistical Package for Social Sciences (SPSS version 20). The findings show that there is a significant relationship between the New Pension Reform Act and employee’s performance. Also, the New Pension Reform Act has a positive effect on employee retention, compensation design must reflect this option in order to attract, motivate and retain employees. With further evidence that the pension system has the propensity to align the individual and corporate goals by increasing their job commitment, performance and motivation, the paper concludes that proper implementation of the provisions of the pension reform act is a prerequisite for achieving its objectives.

Emma Aguila ◽  
Zeewan Lee ◽  
Rebeca Wong

Abstract Mexico and the United States both face rapid population aging as well as older populations with high poverty rates. Among the most vulnerable populations of retirement age in either nation are Mexican immigrants to the United States. This work uses data from the U.S. Health and Retirement Study and the Mexican Health and Aging Study to assess retirement decisions among persons born in Mexico and working in either nation as well as such decisions by non-Hispanic Whites in the United States. Social security system incentives matter for the retirement of Mexican immigrants in the U.S. but not for return-migrants in Mexico.

Mirza Purta Ashari ◽  

The percentage of pension receipts that is still low is experienced by many developing countries in the continent of Asia and Africa in terms of providing pension funds for their citizens. This study seeks to analyze the effect of growth in pension fund assets in OIC member countries. The measurement of the growth of pension fund assets is viewed through the aspects of the number of stock traded, the equity index, the inflation rate, male labor force participation, female labor force participation, the working age, and the retirement age. In addition, this study uses a panel data regression analysis method with the period 2010 to 2019. The results show that there are variables of male labor force participation, female labor force participation, working-age, and retirement age that have a significant effect. Male labor force participation, working-age, and retirement age have a positive effect on the growth of pension fund assets, while female labor force participation has a negative effect on pension fund assets. It can be said that the demographic aspects can influence the growth of pension fund assets in OIC member countries in the period 2010 to 2019.

2021 ◽  
Vol 25 (9) ◽  
pp. 56-61
D.E. Kucher ◽  
S.G. Kharchenko

The analysis of the main approaches to the assessment of environmental safety is presented. The requirements for environmental safety measurement are justified. The relationship between safety and development, safety and danger are revealed. The approach to the environmental safety methodology is proposed. The goals of environmental safety are justified. The article analyzes life expectancy as the indicator of environmental safety and its dependence on other priorities of the state development, such as the cost of childbirth and raising children, support for pregnant and nursing mothers, care for pensioners (the size of pensions, their indexation, retirement age), the cost of ensuring industrial and transport safety, etc. The indicators that determine the quality (state) of the natural environment as maximum permissible environmental loads and the degree of proximity of the ecosystem state to the border of its stability are considered in the article. The possibility and advantages of using the assessment of the photosynthetic organisms (photosynthetics) state as the indicator of environmental safety are substantiated. The possibility of using the other integral biota state indicators to assess environmental safety is shown in the article.

Jonas Radl ◽  
Juan J Fernández

Abstract Objectives This study reports the findings of the first cross-national survey experiment on the effects of information on the expected retirement age. Given the drawbacks of unrealistic retirement expectations, the study examines the impacts of nonpartisan information about future demographic aging and forecasted pension benefit levels. Methods An online survey experiment was conducted in the US, Germany and Spain in 2018 using an internet access panel. We assigned respondents to two random treatments: one citing the change in the projected share of the population older than 65 years (demographic treatment) and another citing the projected change in pension replacement rates (benefits treatment), both for 2015 to 2040. Treatment effects on the expected retirement age are reported. Results The benefits treatment has a strong influence on retirement expectations. In the US, respondents informed of the expected decline in pension replacement rates expect to retire two years later than respondents not informed of the decline. In Spain, this treatment leads to an approximately 9-month postponement of expected retirement, while no significant effect is found in Germany. In addition, the demographic treatment does not affect retirement expectations in the countries studied. Respondents in all countries informed of future population aging do not show different expected retirement ages than respondents not given this information. Discussion People’s retirement expectations are sensitive to information on future changes in pension generosity but not to information on population aging. The results suggest information campaigns focused on declining pension replacement rates may help extend working lives.

2021 ◽  
Vol 27 (7) ◽  
pp. 512-522
O. N. Buchinskaya

Aim. The presented study aims to analyze approaches to achieving sustainable development proposed by schools focused on strengthening government intervention in economic processes to achieve sustainability.Tasks. The authors examine publications that address the problems of sustainable development by the representatives of post-Keynesianism, green Keynesianism, and environmental economists; determine the main goals of sustainable development outlined by the representatives of the aforementioned schools and identify the tools they offer to achieve sustainability; assess the possibility of using these tools in the real sector of the economy, identifying their strengths and weaknesses.Methods. This study uses the methods of analysis and synthesis as well as comparative-historical and problem-chronological methods.Results. It is found that the examined schools focus on the problems of preserving ecosystems and ensuring sustainable economic growth. Other goals, such as provision of employment opportunities, elimination of poverty and inequality are considered to a lesser extent as resulting from the measures taken by the government for the purpose of the environmental transformation of the economy. It is proposed to introduce various forms of assessment and payment for the use of natural resources and to transfer the flow of investment from resource-oriented towards environmentally oriented industries. The decline in employment associated with such a reorientation can be compensated for by expanding employment in the service sector, reducing working hours, and lowering the retirement age.Conclusions. Measures of transition towards sustainable development proposed by post-Keynesians, green Keynesians, and environmental economists are mainly based on non-market measures and imply the strengthening of the government’s influence. Some measures, such as increasing taxes on the products of “dirty” industries, are reflected in the economic policies of other countries. Other measures, primarily aimed at eliminating poverty, inequality, and unemployment, are not being actively implemented. It should be noted that not all recipes of theorists can be applied in the real sector since they include radical measures, the practical implementation of which can lead to economic collapse and a decrease in the population’s living standards.

2021 ◽  
Vol 6 ◽  
Dorly J.H. Deeg ◽  
Wouter De Tavernier ◽  
Sascha de Breij

This study examines occupation-based differences in life expectancy and the extent to which health accounts for these differences. Twentyseven-year survival follow-up data were used from the Dutch population-based Longitudinal Aging Study Amsterdam (n = 2,531), initial ages 55–85 years. Occupation was based on longest-held job. Results show that the non-skilled general, technical and transport domains had an up to 3.5-year shorter life expectancy than the academic professions, accounting for the compositional characteristics age and gender. Statutory retirement age could be made to vary accordingly, by allowing a proportionally greater pension build-up in the shorter-lived domains. Health accounted for a substantial portion of the longevity difference, ranging from 20 to 66%, depending on the health indicator. Thus, health differences between occupational domains today can be used as a means to tailor retirement ages to individuals’ risks of longevity. These data provide a proof of principle for the development of an actuarially fair method to determine statutory retirement ages.

Tito Boeri ◽  
Pietro Garibaldi ◽  
Espen R. Moen

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.

2021 ◽  
Vol 6 ◽  
Moritz Hess ◽  
Laura Naegele ◽  
Lena Becker ◽  
Jana Mäcken ◽  
Wouter De Tavernier

As populations are ageing concerns regarding the sustainability of European welfare states have come to the forefront. In reaction, policy makers have implemented measurements aimed at the prolongation of working lives. This study investigates weather older workers have adapted their planned retirement age, as a result of this new policy credo. Based on data from Survey of Health, Ageing and Retirement in Europe (SHARE) the analysis shows an increase of the planned retirement age (1.36 years) across all ten European countries investigated, albeit with country-specific variations. Variations on the individual level can be detected in regard to gender, education and self-reported health status.

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