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Fernández, Juan J., Gema García-Albacete, Antonio M. Jaime-Castillo & Jonas Radl (2023): Priming or learning? The influence of pension policy information on individual preferences in Germany, Spain and the United States. In: Journal of European Social Policy, Jg. 33, H. 3, S. 337-352. DOI:10.1177/09589287231164347

Abstract

"A promising approach to pension policy preferences focuses on the influence of policy related information. We advance this research programme by examining the impact of information about future pension benefits, including whether information effects occur through priming, learning or both. Drawing on a novel, split-sample survey experiment in the US, Germany and Spain, we examine the impact of information on forecasted pension replacement rates for 2040 on pension policy attitudes. Findings indicate that the information treatment increases support for the two outcomes considered: (i) increases in the pensionable age and (ii) greater spending on pensions relative to other social programmes. Analyses of heterogeneous treatment effects accounting for prior beliefs of participants show that information effects occur both through priming and learning. The study concludes that hard, non-partisan information increases support for reforms that foster the financial sustainability of pension systems, although the scope of information effects depends on contextual conditions." (Author's abstract, IAB-Doku) ((en))

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Lucifora, Claudio & Martina Repetto (2022): Big five personality traits and retirement decisions. In: Labour, Jg. 36, H. 1, S. 1-28. DOI:10.1111/labr.12210

Abstract

"We estimate the effect of the Big Five personality traits on the retirement decisions of individuals aged between 50 and 80 years in fourteen European countries, using wave 7 from the SHARE data. We investigate the probability of retirement and a measure of the distance between actual retirement and ordinary retirement age. Overall, we find that personality affects retirement decisions, and the effects are similar across gender. Openness to experience, conscientiousness and extraversion are generally associated with a delay in retirement decisions, whereas neuroticism anticipates the exit from the labour market." (Author's abstract, IAB-Doku, Published by arrangement with John Wiley & Sons) ((en))

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Font, Paulino, Mario Izquierdo & Sergio Puente (2021): The Effect of Subsidies to Mature-Age Employment: a Quasi-Experimental Analysis. In: Journal of labor research, Jg. 42, H. 2, S. 123-147. DOI:10.1007/s12122-021-09318-7

Abstract

"This paper evaluates the effect of subsidies to employment maintenance on the probability of mature-age workers staying in the firm. Implementing a quasi-experimental design provided by changes in Spanish labor market regulations, we are able to estimate that the end of subsidies had a small though statistically significant and negative impact on workers' firm attachment rate. Our results show that a 1 pp. increase in the worker's cost translates into a 0.11 pp. increase in the cumulative probability of the worker separating from the firm in the next five months. This effect is mainly driven by workers with relatively less seniority in the firm, who present lower dismissal costs; and by workers in low-skill jobs, for which the wage productivity gap seems to negatively evolve with age. In terms of a cost-benefit analysis, we document that the previous higher rate of job maintenance was achieved at a disproportionate cost, and therefore the elimination of the subsidy resulted in in Social Security savings larger than foregone wages." (Author's abstract, IAB-Doku, © Springer-Verlag) ((en))

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Gornick, Janet & Eva Sierminska (2021): Wealth Accumulation and Retirement Preparedness in Cross-National Perspective: A Gendered Analysis of Outcomes among Single Adults. (IZA policy paper 181), Bonn, 30 S.

Abstract

"Wealth is an increasingly important dimension of economic well-being and is attracting rising attention in discussions of social inequality. In this paper, we compare – within and across countries – wealth outcomes, and link those to both employment-related factors and policy solutions that have the potential to improve wealth creation and retirement security for women. By constructing country-specific portraits of wealth outcomes and "retirement preparedness," we reveal extensive cross-national variation in multiple facets of wealth. Our regression analysis finds a statistically significant and positive effect of work experience on wealth, with that effect, in general, increasing over time. The effect of work experience for single women is greater than for single men, suggesting that, among men, other, stronger forces are at work in creating wealth. The retirement preparedness outcomes indicate that single women in all three countries are in a precarious position at retirement, with much lower expected annual wealth levels than single men. The second preparedness indicator, which links expected annual wealth to income, demonstrates that men have the potential to cover 1larger shares of their income at retirement – and thus are more able, than their female counterparts, to maintain standards of living achieved earlier in life. Our policy discussion indicates that employment remains a viable option for ultimately bolstering women's wealth accumulation. Many scholars, gender equality advocates, and policymakers have argued for raising women's employment rates – for a multitude of reasons – but few, if any, have made the case for strengthening women's employment in order to ultimately bolster women's wealth building. We hope to help reduce the gap in the literature on policy supports for women's employment and re-open the discussion on how women can create more wealth." (Author's abstract, IAB-Doku) ((en))

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Riekhoff, Aart-Jan, Kati Kuitto & Liisa-Maria Palomäki (2020): Substitution and spill-overs between early exit pathways in times of extending working lives in Europe. In: International social security review, Jg. 73, H. 2, S. 27-50. DOI:10.1111/issr.12237

Abstract

"In diesem Artikel wird untersucht, inwieweit Instrumentensubstitution unter Möglichkeiten zum frühen Austritt in Europa zwischen 1995 und 2015 zum Einsatz kam. Anhand von aggregierten Eurostat‐Daten über Nichterwerbsquoten und Beschäftigungsquoten unter der Bevölkerung von 55 bis 64 Jahren in 19 europäischen Staaten analysieren wir Substitutionseffekte zwischen Austrittswegen und Gesamtausstrahlungseffekte in die Nichterwerbstätigkeit. Trotz eines starken Rückgangs des vorzeitigen Ausscheidens und des Anstiegs der Beschäftigungsquote von älteren Arbeitnehmern weisen die Ergebnisse darauf hin, dass Instrumentensubstitution insbesondere zwischen Frührente und Invalidität geläufig war. Die Abnahme des frühen Ausscheidens fiel mit erheblichen Ausstrahlungseffekten in Nichterwerbstätigkeit zusammen. Dabei war diese Ausstrahlung jedoch geringer, wenn der Zugang zu alternativen Instrumenten gleichzeitig erschwert wurde." (Autorenreferat, IAB-Doku, Published by arrangement with John Wiley & Sons)

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Hess, Moritz (2018): Gewünschtes und erwartetes Renteneintrittsalter in Deutschland und Europa. In: Deutsche Rentenversicherung, Jg. 73, H. 3, S. 228-242.

Abstract

"In den letzten 25 Jahren hat es in Deutschland und Europa Bemühungen auf institutioneller und betrieblicher Ebene gegeben, ältere Arbeitnehmer länger im Berufsleben zu halten und so deren Beschäftigungsquote zu erhöhen. Der vorliegende Beitrag untersucht die Auswirkungen dieser Reformen auf das gewünschte Renteneintrittsalter, das Alter, zu dem Ältere in Rente gehen wollen, und auf das erwartete Renteneintrittsalter, das Alter, zu dem sie realistisch glauben, dies zu tun. Die Ergebnisse, basierend auf mehreren Datensätzen (European Social Survey, Eurobarometer, Sozio-oekonomisches Panel, Deutsche Altersstudie), zeigen, dass sowohl das gewünschte als auch das erwartete zukünftige Renteneintrittsalter von älteren Arbeitnehmern in den letzten zehn Jahren gestiegen sind. Allerdings zeigen sich deutliche Unterschiede zwischen sozialen Gruppen. Während Hochqualifizierte eher glauben, ihr gewünschtes und erwartetes Renteneintrittsalter synchronisieren zu können, erwarten solche mit niedriger Bildung und geringem Einkommen, dass sie aus finanziellen Gründen länger arbeiten müssen, als sie wollen. Die Ergebnisse stützen somit Befürchtungen, dass die renten- und arbeitsmarktpolitischen Reformen zu neuer sozialer Ungleichheit beim Rentenübergang führen." (Autorenreferat, IAB-Doku)

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Pavolini, Emmanuele & Martin Seeleib-Kaiser (2018): Comparing occupational welfare in Europe: The case of occupational pensions. In: Social policy and administration, Jg. 52, H. 2, S. 477-490. DOI:10.1111/spol.12378

Abstract

"The article provides an assessment to what extent reforms of occupational pensions (OP) have fostered a 'risk shift' or increased social protection dualism across countries. The essay focuses on workers, whilst previous research primarily analyzed provision for current pensioners. The empirical analysis confirms that in countries such as the Netherlands and Sweden, increased private pension or (OP) provision does not necessarily lead towards social protection dualism and comprehensive risk shifts. Britain continues to be characterized by strong social protection dualism and entrenched social divides, creating 'social policy enclaves'. Divisions of welfare are also very likely to be a feature of the German pension system in the future. The latter two countries have witnessed clear risk shifts and processes of dualization. The pension systems in Austria, Italy, and Spain have not witnessed paradigmatic changes, and continue to be primarily based on public/statutory pension schemes. The idea that multi-pillarization in itself fosters major risk shifts and dualization has to be reconsidered. Under specific conditions, encompassing OPs can be functionally equivalent to public pension schemes. However, countries relying on voluntarism with regard to OPs coverage tend to witness processes of dualization." (Author's abstract, Published by arrangement with John Wiley & Sons) ((en))

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Bennett, Jenny & Katja Möhring (2015): Cumulative (dis)advantage? The impact of labour market policies on late career employment from a life course perspective. In: Journal of social policy, Jg. 44, H. 2, S. 213-233. DOI:10.1017/S0047279414000816

Abstract

"We investigate the labour market situation of older individuals in Europe in relation to their previous employment history as well as the regulations relating to employment protection legislation and early retirement. Specifically, we look at the competing risks of early retirement and late career unemployment. The central research question is whether policy effects differ according to the characteristics of an individual's previous work history. We employ data for twelve European countries from the Survey of Health, Ageing and Retirement in Europe (SHARELIFE) and estimate multilevel regression models. The results show different mechanisms for the risks of unemployment and early retirement. Late career unemployment results from individual factors related to fragmented careers, marginal employment and short tenures. In the case of early retirement, we find the interplay of individual and policy factors to be crucial. Persons with consistent careers have an increased probability of early retirement, but only in countries with generous early retirement benefits. However, employment protection legislation appears to counteract early retirement for this group of individuals. We conclude that policy factors do not have uniform effects for older individuals, but should rather be viewed against the background of previous developments in individual career paths." (Author's abstract, IAB-Doku) ((en))

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Börsch-Supan, Axel, Thorsten Kneip, Howard Litwin, Michal Myck & Guglielmo Weber (Hrsg.) (2015): Ageing in Europe - Supporting Policies for an Inclusive Society. Berlin: De Gruyter, 380 S.

Abstract

"SHARE is an international survey designed to answer the societal challenges that face us due to rapid population ageing. How do we Europeans age? How will we do economically, socially and healthwise? How are these domains interrelated? The authors of this multidisciplinary book have taken a further big step towards answering these questions based on the recent SHARE data in order to support policies for an inclusive society." (Publishers Abstract) ((en))

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Möhring, Katja & Jenny Bennett (2015): Arbeitslosigkeit und Frührente älterer Personen in Europa. Die Rolle von Arbeitsmarkt- und Rentenpolitik aus der Lebenslaufperspektive. In: Zeitschrift für Sozialreform, Jg. 61, H. 4, S. 379-402. DOI:10.1515/zsr-2015-0403

Abstract

"Wir untersuchen aus einer Lebenslaufperspektive die Arbeitsmarktsituation älterer Personen im internationalen Vergleich und beziehen dabei sowohl Frühverrentung als auch Arbeitslosigkeit ein. Zentrale Hypothese unserer Analyse ist, dass die Wirkung von Sozialpolitik auf die Beschäftigungschancen Älterer nicht einheitlich ist, sondern von der individuellen vorangegangenen Erwerbsbiografie abhängt. Datengrundlage ist der 'Survey of Health, Ageing and Retirement in Europe', insbesondere die Lebenslaufdaten der dritten Welle (SHARELIFE, 2008/09) aus zwölf europäischen Ländern. Unsere Analysegruppe sind männliche Befragte ab 50 Jahren. Als kontextuelle Faktoren beziehen wir institutionelle Frühverrentungsanreize sowie Kündigungsschutzregelungen ein. Um Interaktionseffekte zwischen sozialpolitischen und individuellen Charakteristika zu schätzen, verwenden wir Mehrebenen-Regressionen. Die Ergebnisse zeigen unterschiedliche Mechanismen für Arbeitslosigkeit und Frührente. Unterschiede im Arbeitslosigkeitsrisiko Älterer sind vor allem auf individuelle Faktoren zurückzuführen; Personen mit vormals instabilen Erwerbsverläufen und epischer Beschäftigung sind besonders betroffen. Das Gegenteil trifft auf Frühverrentung zu: Personen mit stabilen Erwerbskarrieren in regulärer Beschäftigung weisen hierfür eine höhere Wahrscheinlichkeit auf Dieser Zusammenhang wird durch generöse Frühverrentungsmöglichkeiten zusätzlich verstärkt. Strikte Kündigungsschutzregelungen erhöhen dagegen die Beschäftigungswahrscheinlichkeit von Personen mit stabilen Erwerbsverläufen, allerdings nur, wenn die institutionalisierten Frühverrentungsanreize dem nicht entgegenwirken." (Autorenreferat, © De Gruyter)

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García-Pérez, J. Ignacio, Sergi Jiménez-Martín & Alfonso R. Sánchez-Martín (2013): Retirement incentives, individual heterogeneity and labor transitions of employed and unemployed workers. In: Labour economics, Jg. 20, H. January, S. 106-120. DOI:10.1016/j.labeco.2012.11.006

Abstract

"In this paper, we analyze the sensitivity of the labor market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement by jointly modeling the transitions between employment, unemployment and retirement, paying special attention to the transition from unemployment to retirement (which is particularly important in Spain and other European countries, and whose relevance is increasing as a result of the recent economic crisis). Using administrative data, we find that, when properly defined, economic incentives have a strong impact on labor market decisions. Unemployment regulations are shown to be particularly influential for retirement behavior, along with the more traditional determinants linked to the pension system. Pension variables also have a major bearing on workers' reemployment decisions. The quantitative impact of the incentives, however, is greatly affected by the existence of unobserved heterogeneity among workers. Its omission leads to sizeable biases in the assessment of the sensitivity to economic incentives. We confirm the importance of this potential problem in the case of the change in early retirement provisions legislated in Spain in 2002 (which we analyze with a difference-in-difference approach)." (Author's abstract, IAB-Doku) ((en))

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Eichhorst, Werner (2011): The transition from work to retirement. (IZA discussion paper 5490), Bonn, 25 S.

Abstract

"The European Employment Strategy has set the goal of raising the retirement age of workers in the EU through a strategy of 'active ageing'. Yet despite some progress over the last decade, empirical data show persistent diversity across EU member states. Institutional arrangements of social and labor market policies can be seen as the core factors behind cross-national diversity. Hence, institutional change is crucial to explain structural changes. The paper tries to assess the role of supranational policy initiatives and national politicoeconomic factors in shaping the transition from work to retirement in EU member states which is still governed by the national political economy. Taking the German case as an example in point, the paper shows the dynamic interaction between policy changes, in particular in benefit systems and activation, and changes in the approach of firms and workers to early retirement. Policy changes influence actors' behavior in the medium run and open up opportunities for subsequent reforms." (Author's abstract, IAB-Doku) ((en))

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Angelini, Viola, Agar Brugiavini & Guglielmo Weber (2009): Ageing and unused capacity in Europe: is there an early retirement trap? In: Economic policy, Jg. 24, H. 59, S. 463-508.

Abstract

"We address the issue of how early retirement may interact with limited use of financial markets in producing financial hardship later in life, when some risks (such as long-term care) are not insured. We argue that the presence of financially attractive early retirement schemes in a world of imperfect financial and insurance markets can lead to an 'early retirement trap'. Indeed, Europe witnesses many (early) retired individuals in financial distress. In our analysis we use data on 10 European countries, which differ in their pension and welfare systems, in prevailing retirement age and in households' access to financial markets. We find evidence that an early retirement trap exists, particularly in some Southern and Central European countries: people who retired early in life are more likely to be in financial hardship in the long run. Our analysis implies that governments should stop making early retirement attractive, let retirees go back to work, improve access to financial markets and make sure long-term care problems are adequately insured." (Author's abstract, IAB-Doku) ((en))

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Dalen, Hendrik P. van, Kène Henkens & Joop Schippers (2009): Dealing with older workers in Europe. A comparative survey of employers' attitudes and actions. In: Journal of European social policy, Jg. 19, H. 1, S. 47-60. DOI:10.1177/0958928708098523

Abstract

"This article addresses employers' attitudes and actions regarding the position of older workers. A comparative survey among employers from four European countries - Greece, Spain, the Netherlands and the United Kingdom - is used to examine their expectations with respect to the ageing of the workforce, the productivity of older workers and their recruitment and retention behaviour regarding this cohort. The results show that in spite of the perceived challenges ahead (including the ageing workforce), employers take no substantial measures to retain and recruit older workers or improve their productivity. Only employers in the United Kingdom seem to recognize older workers as a valuable source of labour supply and act accordingly." (Author's abstract, IAB-Doku) ((en))

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Gruber, Jonathan, Kevin Milligan & David A. Wise (2009): Social security programs and retirement around the world. The relationship to youth employment. Introduction and summary. (NBER working paper 14647), Cambridge, Mass., 74 S. DOI:10.3386/w14647

Abstract

"This is the introduction and summary to the fourth phase of an ongoing project on Social Security Programs and Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the strong relationship across countries between social security incentives to retire and the proportion of older persons out of the labor force. The second phase documented the large effects that changing plan provisions would have on the labor force participation of older workers. The third phase demonstrated the consequent fiscal implications that extending labor force participation would have on net program costs-reducing government social security benefit payments and increasing government tax revenues. This volume presents the results of analyses of the relationship between the labor force participation of older persons and the labor force participation of younger persons in twelve countries. Why countries introduced plan provisions that encouraged older persons to leave the labor force is unclear. After the fact, it is now often claimed that these provisions were introduced to provide more jobs for the young, assuming that fewer older persons in the labor force would open up more job opportunities for the young. Now, the same reasoning is often used to argue against efforts in the same countries to reduce or eliminate the incentives for older persons to leave the labor force, claiming that the consequent increase in the employment of older person would reduce the employment of younger persons. The validity of such claims is addressed in this volume." (Author's abstract, IAB-Doku) ((en))

Abstract

"This report looks at the evolution of initiatives related to older employees undertaken by selected organisations (case studies) in Spain over the last decade. It reviews the following points: main impacts of measures/initiatives at the company level; driving forces for implementing good practice at the company level; characteristics of particularly successful measures/policies; key lessons that can be drawn from implementing measures and initiatives; future issues concerning age-management raised at company level; development of national policy concerning an ageing workforce; relevant actions of social partners and other key actors: policies and practices; and, finally, the status of the issue of older workers in current policy and public debates: identification of future issues." (Author's abstract, IAB-Doku) ((en))

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Kalwij, Adriaan & Frederic Vermeulen (2005): Labour force participation of the elderly in Europe. The importance of being healthy. (IZA discussion paper 1887), Bonn, 30 S.

Abstract

"In this paper we study labour force participation behaviour of individuals aged 50-64 in 11 European countries. The data are drawn from the new Survey of Health, Ageing and Retirement in Europe (SHARE). The empirical analysis shows that health is multi-dimensional, in the sense that different health indicators have their own significant impact on individuals' participation decisions. Health effects differ markedly between countries. A counterfactual exercise shows that improved health conditions may yield over 10 percentage points higher participation rates for men in countries like Austria, Germany and Spain, and for females in the Netherlands and Sweden. Moreover, we show that the declining health condition with age accounts considerably for the decline in participation rates with age." (Author's abstract, IAB-Doku) ((en))

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(2004): Ageing and the transition to retirement. A comparative analysis of European welfare states. (New perspectives on ageing and later life), Aldershot u.a.: Asgate, 295 S.

Abstract

"There are two conflicting trends in Europe: a demographic shift towards population ageing, and a massive decrease in the labour force participation of older workers (aged 50 years and over). This book offers a refined and authoritative understanding of these trends and the two socio-economic concerns of most European welfare states that have been re-enforced as a consequence. These are: the increasing costs for welfare states to finance 'pathways' from employment to official retirement, and the threat of labour market shortages in the near future as a result of both the ageing process and the early exit of older workers. A variety of new policy initiatives can be observed emerging from these changes in many European countries - this book examines the different welfare state arrangements in nine EU countries plus Hungary, Slovenia and Norway. It considers ways of integrating older workers in the labour market along with differing perspectives on the relation between ageing and work." (Author's abstract, IAB-Doku) ((en))

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Organisation for Economic Co-operation and Development (2003): Ageing and employment policies. Spain. (Ageing and employment policies), Paris, 119 S.

Abstract

Dargestellt werden die gegenwärtige Arbeitsmarktsituation älterer Arbeitnehmer in Spanien (Arbeitslosigkeit, Beschäftigung, Geschlechterverteilung), die Sozialleistungen (Rentensystem, private Altersvorsorge, Frühverrentung und Alternativen dazu), Arbeitsschutz- und Lohnabkommen sowie Arbeitsmarktprogramme für Ältere. Da Spanien eine weltweit sehr geringe Fertilität besitzt und gleichzeitig die Lebenserwartung stetig steigt, stellt die Alterung der Gesellschaft eine Herausforderung für die Zukunft dar. Um 2050 wird der Anteil der 50- bis 64-Jährigen von heute 62% auf voraussichtlich 50% gesunken sein. Eine Reihe von Maßnahmen zum Anreiz für die Beschäftigung älterer Arbeitnehmer wird vorgestellt und diskutiert. (IAB)