Factors Contributing to Retirement Decisions in Denmark: Comparing Employees Who Expect to Retire before, at, and after the State Pension Age.
ABSTRACT: Aim: Analyse factors affecting retirement decisions comparing employees expecting to retire before, at, and after the state pension age. Methods: In the SeniorWorkingLife cohort, 12,269 workers aged +50 replied to questions about expected retirement age, reasons for leaving, and reasons for staying longer. Results: For all groups, poor health, wish for more leisure, and economy were the most salient expected reasons for retiring. Many would stay longer if there were better possibilities for more leisure time, more work flexibility, and economic benefits. Those expecting to retire before state pension age were more likely to point at desire for more leisure time as expected reason for retiring, and less likely to point at economic reasons, and more likely to point at health and work demands as possible reasons for prolonging working life. Those expecting to retire after state pension age were more likely to point at external factors and recognition from the management. Conclusion: Factors influencing retirement decisions are similar across the groups. Initiatives for better work-life balance, healthy lifestyle, and economic incentives to continue working may help prevent early retirement and motivate prolonging work life beyond retirement. Results also indicate that less strenuous work is particularly relevant to prevent early retirement.
Project description:BACKGROUND:Increasing retirement age is a pivotal issue in labour market reforms. This study analyses factors conditioning retirement intentions. METHODS:In SeniorWorkingLife, 11 444 employed workers ?50 years replied to questions in random order about expected reasons for leaving and potential reasons for staying longer at the labour market. Respondents were stratified based on the Danish version of International Standard Classification of Occupations (ISCO). Representative estimates were produced using the SurveyFreq and SurveyLogistic procedures of SAS combined with model-assisted weights based on national registers. RESULTS:For ISCO groups 1-4 (seated work) main expected reasons for retiring were freedom to choose and desire for more leisure time, but many would consider staying longer if there were better possibilities for additional senior days, longer vacations and flexible working hours. For ISCO groups 5-9 (physical work), poor physical health and not being capable of doing the job were common expected reasons for retiring, but many would consider staying longer if the work were less physically demanding and there were more senior days. Possibility for pension was a general expected reason for retiring. Expected reasons differed to a less extent between genders than between ISCO groups, e.g. economic factors were more important for men and high work demands more important for women. CONCLUSION:Different barriers and opportunities for prolonging working life exist across different occupational groups of the labour market-with most consistent differences between those with seated and physical work. Targeting these specifically seems opportune for policy makers and future interventions.
Project description:The factors influencing one's choice to retire vary, with financial and health considerations being some of the main factors impacting or associated with people's timing of retirement. The aim of the study is to investigate the differences in current health and health-related behaviours, such as smoking, drinking and exercising, between people who kept on working beyond state-pension age and those who retired before or at state-pension age.Data from six waves (2003, 2008-2012) of the Scottish Health Survey (SHeS) are used. Descriptive analyses were used to characterise the population. Multivariate logistic regression was undertaken to analyse the relationship between retirement groups and gender, age, deprivation, marital status, housing tenure, general health, longstanding illness, cigarette smoking status, amount of exercise and mental health, using Stata.Reporting poor self-rated health or having a long-standing illness was associated with increased odds of retiring before state pension age (SPA) in groups with a medium deprivation profile in almost all the survey years. For the least deprived there was little evidence of an association between poor health and extended-working-life, while significant associations were observed for the most deprived. An increasing trend was observed for both genders in the number of people extending their working life. Similar associations between reporting poorer self-rated health and extended working lives were observed for men and women. Distinct gender differences were observed for the associations with reporting poor mental health and no exercise. In the adjusted models, both were significantly associated with retiring at or before SPA in almost every year for women, whereas no significant associations were observed (except in 1 year) for men.This study shows an increasing trend in the number of people extending their working lives and demonstrates significant associations between health and lifestyle behaviours and employment status past SPA. The results suggest that good health - both physically and mentally - along with either a need or a want to stay in employment could be important reasons for continuing to work beyond SPA.
Project description:<h4>Background</h4>The high cost of training and the relatively long period of training for physicians make it beneficial to stimulate physicians to retire later. Therefore, a better understanding of the link between the factors influencing the decision to retire and actual turnover would benefit policies designed to encourage later retirement. This study focuses on actual GP turnover and the determining factors for this in the Netherlands. The period 2003-2007 saw fewer GPs retiring from general practice than the period 1998-2002. In addition, GPs' retirement age was higher in 2003-2007. For these two periods, we analysed work perception, objective workload and reasons for leaving, and related these with the probability that GPs would leave general practice at an early age.<h4>Methods</h4>In 2003, a first retrospective survey was sent to 520 self-employed GPs who had retired between 1998 and 2002. In 2008, the same survey was sent to 405 GPs who had retired between 2003 and 2007. The response rates were 60% and 54%, respectively. Analyses were done to compare work perception, objective workload, external factors and personal reasons for retiring.<h4>Results</h4>For both male and female GPs, work perception was different in the periods under scrutiny: both groups reported greater job satisfaction and a lower degree of emotional exhaustion in the later period, although there was no notable difference in subjective workload. The objective workload was lower in the second period. Moreover, most external factors and personal reasons that may contribute to the decision to retire were reported as less important in the second period. There was a stronger decrease in the probability that female GPs leave general practice within one year than for male GPs. This underscores the gender differences and the need for disaggregated data collection.<h4>Conclusions</h4>The results of this study suggest that the decrease in the probability of GPs leaving general practice within one year and the increasing retirement age are caused by a decrease in the objective workload, a change in GPs' work perception, external factors and personal reasons. Based on the results of this study, we consider workload reduction policies are the most useful instruments to control retention and retirement.
Project description:OBJECTIVE:To report attitudes to retirement of late-career doctors. DESIGN:Questionnaires sent in 2014 to all UK medical graduates of 1974 and 1977. SETTING:United Kingdom. PARTICIPANTS:3695 medical graduates. MAIN OUTCOME MEASURES:Factors which influenced doctors' decisions to retire and factors which encouraged doctors to remain in work. RESULTS:The response rate was 85% (3695/4369). 55% of respondents overall were still working in medicine (whether they had not retired or had retired and returned; 61% of men, 43% of women). Of the retirees, 67% retired when they had originally planned to, and 28% had changed their retirement plans. Fifty per cent of retired doctors cited 'increased time for leisure/other interests' as a reason; 43% cited 'pressure of work'. Women (21%) were more likely than men (11%) to retire for family reasons. Women (27%) were more likely than men (9%) to retire because of the retirement of their spouse. General practitioners (GPs) were more likely than doctors in other specialties to cite 'pressure of work'. Anaesthetists and GPs were more likely than doctors in other specialties to cite the 'possibility of deteriorating skill/competence'. Radiologists, surgeons, obstetricians and gynaecologists, and anaesthetists were most likely to cite 'not wanting to do out-of-hours work'.Doctors who were still working were asked what would encourage them to stay in medicine for longer. Factors cited most frequently were 'reduced impact of work-related bureaucracy' (cited by 45%) and 'workload reduction/shorter hours' (42%). Men (30%) were more motivated than women (20%) by 'financial incentivisation'. Surgeons were most motivated by 'reduction of on-call or emergency commitments'. CONCLUSIONS:Retention policy should address ways of optimising the clinical contribution of senior doctors while offering reduced workloads in the areas of bureaucracy and working hours, particularly in respect of emergency commitments.
Project description:In Switzerland, as in many other European states, there is an increasing emphasis in public policy on promoting later retirement from the labour market. But this accelerating drive in Swiss policy-making to extend occupational activity does not mean that every worker is currently likely to retire late, nor does it imply that all those who do retire late do so voluntarily. This article uses a life-course approach, first to study the determinants of late retirement, and secondly to analyse whether the decision to postpone retirement is made voluntarily or involuntarily. Both objectives are addressed on the basis of data from the Swiss survey Vivre/Leben/Vivere. The results of logistic regression modelling indicate that, whereas self-employed and more highly educated individuals are more likely to retire late, people with access to private pension funds and workers who have benefited from periods of economic growth have a lower tendency to retire late. Regarding voluntariness, those who are more likely to opt for voluntary late retirement tend to be Swiss citizens, more highly educated, and also benefited from periods of economic expansion, while the self-employed, men and widowed individuals leaving the labour market late tend to do so involuntarily. In conclusion, the article discusses the absence of a social inequality debate in the design of active ageing policies.
Project description:The tendency to leave work before the formal pension age is reached has increased in most OECD-countries. The societal economical consequences of these circumstances are worrying and knowledge about the mechanisms behind this trend is urgent. Previous research has focused on the role of pension rules, work environments, health and education. In this study, it was investigated if there are differences in personality and in leisure lifestyle between individuals who have retired at the age of 60 and individuals who still work at the same age. The effects of health, work satisfaction, education level and household economy were taken into account. The sample was drawn from the SNAC-Blekinge database and the participants were 184 randomly selected individuals aged 60 years. The variables were measured using standardised questionnaire data. The results show that early retirement due to health problems was negatively related to visiting museums and art expositions and positively related to number of symptoms of disease. Retirement due to other reasons than disability was negatively related to reading books and to number of symptoms. The study suggests there is a possible stress-reducing effect of participation in cultural/intellectual activities. This effect may strengthen the ability and motivation to continue working at the age of 60 years old.
Project description:Health and retirement are bi-directionally linked. Health is central to the timing of retirement, and retirement may have varying effects on health. Three studies of the special section of this issue add to the evidence about factors determining early retirement from three different perspectives. Blekesaune and Skirbekk investigated how personality factors were associated with non-disability and disability pension in Norway; Gørtz studied working conditions, health and early retirement in the day-care sector in Denmark; and Clarke et al. modelled trajectories of expectations not to retire early but to work full time after age 62 in a sample of older Americans as well as implications for health when such expectations were unmet. All studies incorporated health measures in the analyses. Nevertheless, health can have several roles in the retirement process. The complexity of the relationship of health and retirement is discussed in this commentary, several methodological issues are addressed and implications for future studies are identified.
Project description:Recent studies based on self-reported data suggest that retirement may have beneficial effects on mental health, but studies using objective endpoints remain scarce. This study examines longitudinally the changes in antidepressant medication use across the 9 years spanning the transition to retirement.Participants were Finnish public-sector employees: 7138 retired at statutory retirement age (76% women; mean age, 61.2 years), 1238 retired early due to mental health issues (78% women; mean age, 52.0 years), and 2643 retired due to physical health issues (72% women; mean age, 55.4 years). Information on purchase of antidepressant medication 4 years before and 4 years after retirement year was based on comprehensive national pharmacy records in 1994-2005.One year before retirement, the use of antidepressants was 4% among those who would retire at statutory age, 61% among those who would retire due to mental health issues, and 14% among those who would retire due to physical health issues. Retirement-related changes in antidepressant use depended on the reason for retirement. Among old-age retirees, antidepressant medication use decreased during the transition period (age- and calendar-year-adjusted prevalence ratio for antidepressant use 1 year after versus 1 year before retirement = 0.77 [95% confidence interval = 0.68 to 0.88]). Among those whose main reason for disability pension was mental health issues or physical health issues, there was an increasing trend in antidepressant use prior to retirement and, for mental health retirements, a decrease after retirement.Trajectories of recorded purchases of antidepressant medication are consistent with the hypothesis that retirement is beneficial for mental health.
Project description:The objective of this study was to test predictors of change in social engagement across the retirement transition in a cohort of 10,692 French utility workers retiring between 1992 and 2004, aged 51-65 in 2004. Three measures of social engagement (organizational activity participation, number of close family members, and number of close friends) were collected in 1991 and 2004; 1991 scores were subtracted from 2004 scores to determine change. We used ordered logistic regression to model predictors of change. Compared with those retiring just before the follow-up measure, those retiring 2-5 years earlier had greater positive change in organizational activity participation (OR 1.22, 95 % CI 1.07, 1.39) and greater positive change in number of close friends (OR 1.19, 95 % CI 1.04, 1.37) after retirement compared with before, but no difference in family contact, and no clear linear trend by retirement timing relative to the follow-up measure. Women were less likely than men to increase organizational activities and contact with close family ties. Poor self-rated health at follow-up consistently predicted decreased engagement. For specific activities, those retired longest had not only the greatest odds of increased political/religious organizational involvement and sports/hobby/leisure involvement but also the greatest odds of decreased volunteering. Those of low midlife socioeconomic status (SES) were more likely to decrease levels of formal engagement from before retirement to after, compared to those of higher SES. Overall, certain changes in social engagement emerged with increasing time in retirement. However, retirement timing was a weaker predictor of change in engagement than factors such as low midlife SES or poor health. Findings suggest that disparities in social engagement may emerge during retirement.
Project description:OBJECTIVES:Despite the stable incidence of mental disorders in Finland and Europe, mental health-related occupational disability has been increasing. We unveiled the paths to permanent psychiatric disability, recovery, or death, by analysing sequences of labour market participation. METHODS:The RETIRE register database includes information regarding all persons (n?=?42,170) awarded an ICD-10 psychiatric disability pension between 2010 and 2015 in Finland. We identified clusters of typical paths of pre-retirement labour market history. Controlling for major mental disorders, age, and sex, we evaluated factors associated with returning to work (RTW), or death, over a 5-year follow-up period. RESULTS:Only 10.5% of the disabled subjects returned to work within the follow-up. Half of them ended up with a permanent disability pension. Seven distinguishable paths to disability were identified. Subjects in the cluster characterized by steady employment were relatively often females, lost their work ability due to affective disorders, and had the highest rate of returning to work (16.3%). Mortality was highest (9%) among the cluster characterized by long-term unemployment. Distributions of major diagnostic groups, as well as age and sex, differed between clusters. After their adjustment in the analysis of RTW or death, the identified labour market history paths prior to losing work ability remained as important independent prognostic factors for both outcomes. CONCLUSIONS:The complex retirement process involves identifiable clinical and contextual associating factors. Labour market history patterns associate with varying prognoses after psychiatric retirement. Prolonged unemployment appears as a predictor of relatively poor prognoses, whereas employment indicates the opposite.