Income from Work After Retirement in the EU Acknowledgements

Total Page:16

File Type:pdf, Size:1020Kb

Income from Work After Retirement in the EU Acknowledgements Income from work after retirement in the EU Acknowledgements This research report draws heavily on unpublished country reports on Austria, Poland and Sweden by Mats Kullander, Emilia Johansson and Jenny Nordlöw (Oxford Research), on the UK by Deborah Smeaton, Sandra Vegeris and Karen Mackinnon (Policy Studies Institute, University of Westminster), on the Czech Republic by Martin Nekola, Markéta Nekolová and Martin Potůček (Charles University), on Germany by Gerhard Naegele, Jens Maylandt and Lena Mörbitz (Dortmund University) and on Italy by Andrea Principi, Pietro Checcucci and Mirko Di Rosa (INRCA). The report also benefited from help provided by Sonia de Paz Cobo (Universidad Rey Juan Carlos). Further gratitude goes to participants in symposia at the Cardi conference in Dublin, 2–4 November 2011; the IFA conference in Prague, 28 May–1 June 2012; the ESRC seminar in Canterbury, 4 May 2012; and Eurofound’s Expert Workshops in Brussels, 26 July 2011 and 15 June 2012. In particular, much-appreciated extensive written feedback on draft versions of this consolidated research report was received from Rachelle Pascoe-Deslauriers (University of Strathclyde), Annie Jolivet (Institut de Recherches Economiques et Sociales, IRES), Sara Rix (American Association of Retired Persons, AARP) and Asghar Zaidi (European Centre for Social Welfare Policy and Research). Please cite this publication as follows: Eurofound (2012), Income from work after retirement in the EU, Publications Office of the European Union, Luxembourg. Authors: Hans Dubois and Robert Anderson Project: Income after retirement Wyattville Road, Loughlinstown, Dublin 18, Ireland - Tel: (+353 1) 204 31 00 - Fax: (+353 1) 282 42 09 / 282 64 56 email: [email protected] - website: www.eurofound.europa.eu Income from work after retirement in the EU Wyattville Road, Loughlinstown, Dublin 18, Ireland - Tel: (+353 1) 204 31 00 - Fax: (+353 1) 282 42 09 / 282 64 56 email: [email protected] - website: www.eurofound.europa.eu Cataloguing data can be found at the end of this publication. Luxembourg: Publications Office of the European Union, 2012 doi:10.2806/42416 ISBN 978-92-897-1098-5 © European Foundation for the Improvement of Living and Working Conditions, 2012 For rights of translation or reproduction, applications should be made to the Director, European Foundation for the Improvement of Living and Working Conditions, Wyattville Road, Loughlinstown, Dublin 18, Ireland. The European Foundation for the Improvement of Living and Working Conditions (Eurofound) is an autonomous body of the European Union, created to assist in the formulation of future policy on social and work-related matters. Further information can be found on the Foundation website at www.eurofound.europa.eu European Foundation for the Improvement of Living and Working Conditions Wyattville Road Loughlinstown Dublin 18 Ireland Telephone: (+353 1) 204 31 00 Fax: (+353 1) 282 42 09 / 282 64 56 Email: [email protected] www.eurofound.europa.eu Printed in Luxembourg The paper used in this book is chlorine-free and comes from managed forests in northern Europe. For every tree felled, at least one new tree is planted. v Table of contents Executive summary 1 Introduction 5 Policy relevance 5 How common is it? 5 Difference from work before retirement 7 1 — Concepts and data collection 9 Concepts 9 Measuring work after retirement 9 Data collection 11 2 — Trends in adequacy and sustainability of retirement income 13 Income adequacy 13 Income sustainability 19 3 — Characterising and explaining trends in work after retirement 23 Explaining working after retirement 23 Characterising working retirees 30 Characterising work after retirement 33 Employment clusters 43 4 — Government policies 45 Labour market 45 Age barriers and discrimination 45 Financial incentives 50 Avoiding need 55 5 — Company initiatives 57 Motivation for companies 57 Facilitating by informing 60 Facilitating by pooling 61 Facilitating by flexibility 61 Facilitating by training 66 Facilitating by tailor-made approaches 67 vii 6 — Retiree initiatives 69 7 — Conclusions 71 Explaining work after retirement in the EU 71 Characterising work after retirement in the EU 72 What can governments do? 72 What can companies do? 73 What can retirees do? 74 Bibliography 77 viii List of case studies Case study 1: German newspaper 24 Case study 2: Italian supermarket 25 Case study 3: German research institute 27 Case study 4: UK public healthcare provider 30 Case study 5: Swedish self-employed consultants 40 Case study 6: Czech government ministry 49 Case study 7: Italian public university 53 Case study 8: Czech security company 54 Case study 9: Czech senior job agency 57 Case study 10: Polish ship R&D centre 58 Case study 11: Swedish senior job agency 59 Case study 12: Polish cleaning company 59 Case study 13: Dutch retiree job agency 60 Case study 14: Dutch collective agreement for working retirees 61 Case study 15: Swedish tools company 62 Case study 16: UK DIY and garden centre 63 Case study 17: German engineering company 64 Case study 18: German public employment agency 64 Case study 19: UK warranties provider 65 Case study 20: Austrian graphics equipment company 66 Case study 21: Italian choir 66 Case study 22: Austrian electronics company 67 Case study 23: UK cooperative 68 Case study 24: Austrian business consultancy 70 ix Executive summary Introduction EU social and employment policies increasingly emphasise extending working life and increasing effective retirement age. Over the past few years, it has become more common for Europeans to work beyond the age at which they are entitled to a statutory or occupational pension. The employment rate among 65- to 69-year-olds increased from 8.8% in 2005 to 10.5% in 2011 – a remarkable development, especially in a time of economic crisis. In this European Year of Active Ageing and Solidarity between Generations, a special Eurobarometer reported that one-third of people wanted to continue working beyond the pension age, with 6 out of 10 thinking that people should be able to do so. This study investigates retirees’ motivations to take up paid work and how they relate to income adequacy. It explores who these working retirees are, characterises the work they are doing and concludes with lessons for policymakers and employers. Evidence comes from literature, analyses of EU databases and seven country studies. Policy context The European Commission’s 2012 White Paper on pensions highlights the challenges of demographic ageing for the sustainability of adequate pensions systems. Member States have been raising retirement ages and discouraging early retirement arrangements. Increased employment rates among people below and above the retirement age will have a positive impact on sustainability of pension systems. Key findings Since 2005, employment rates among people aged 65 and over have shown the largest increases in Finland, the UK, Lithuania, Germany and Austria. Motivational factors ■ Additional income is a motivation. For those retirees who work, it provides over half their income. ■ Around one-fifth work because of financial need. They tend to have low incomes and work under insecure conditions. ■ For most, motivation largely comes from other factors: work brings contact with colleagues and clients, learning and opportunities to contribute to society. Profile of working retirees ■ Working retirees are often younger and male. Retirees are more likely to work if they are highly educated, live in urban areas or have a mortgage. ■ Nevertheless, recent growth in employment rates has come from female retirees and retirees with a medium level of education in particular. ■ Among retirees who do not work, a significant proportion would like to work but cannot find suitable employment. Many were already disadvantaged in the labour market well before retirement. 1 Income from work after retirement in the EU Employment contract ■ The majority work part time. ■ About half are self-employed; often, however, they work as a one-person enterprise for a single employer. ■ Almost one-fifth of working retirees have a temporary contract. This is higher than for other age groups and also more often reflects the worker’s preference. ■ Some carry out undeclared work. ■ Retirees work relatively often in the agriculture and fisheries sector and the professional, scientific and technical activities sector. Reasons for employing retirees ■ As society is ageing, retirees form an increasing proportion of an organisation’s client base. A workforce with retirees helps companies to understand these clients’ preferences and to relate to them. ■ Organisations appreciate that retirees are often open to accepting flexible work arrangements. ■ Cost savings result from postponing recruiting and training new employees. ■ Employers highlight a particularly high work motivation among retirees. Policy pointers Lessons for policymakers ■ Work after retirement can be enriching and rewarding, but promoting it may have negative impacts. It can be seen to erode the right to enjoy retirement; it risks marginalising people who might not be in a position to work or who contribute to society, for example, by caring and volunteering; and regardless of macro-level evidence pointing to the contrary, it conflicts with public perceptions that older people are reducing employment chances for younger people. ■ Pension adequacy should be guaranteed to avoid retirees having to work because of financial need. ■ Millions of Europeans beyond
Recommended publications
  • 'Ageing in Place' in Europe
    PhD THESIS DOCTORAL PROGRAMME IN DEMOGRAPHY Centre d’Estudis Demogràfics / Departament de Geografia Universitat Autònoma de Barcelona ‘Ageing in Place’ in Europe: A multidimensional approach to independent living in later life Celia Fernández-Carro Supervisors: Dr. Juan A. Módenes Dr. Jeroen Spijker September 2013 This PhD Thesis has been carried out as part of the I+D Project Demographic analysis of housing needs in Spain, 2005-2015 funded by the Ministry of Science and Innovation of Spain (SEJ2007-60119) and directed by Dr. Juan A. Módenes. This thesis has also been funded by the 2013 call of the Centro de Investigaciones Sociológicas (CIS) research programme Ayudas a la Investigación . This thesis uses data from SHARE wave 4 release 1.1.1, as of March 28th 2013 or SHARE wave 1 and 2 release 2.5.0, as of May 24th 2011 or SHARELIFE release 1, as of November 24th2010. The SHARE data collection has been primarily funded by the European Commission through the 5th Framework Programme (project QLK6-CT- 2001-00360 in the thematic programme Quality of Life), through the 6th Framework Programme (projects SHARE-I3, RII-CT-2006-062193, COMPARE, CIT5- CT-2005-028857, and SHARELIFE, CIT4-CT-2006-028812) and through the 7th Framework Programme (SHARE-PREP, N° 211909, SHARE-LEAP, N° 227822 and SHARE M4, N° 261982). Additional funding from the U.S. National Institute on Aging (U01 AG09740-13S2, P01 AG005842, P01 AG08291, P30 AG12815, R21 AG025169, Y1-AG-4553-01, IAG BSR06-11 and OGHA 04-064) and the German Ministry of Education and Research as well as from various national sources is gratefully acknowledged (see www.share-project.org for a full list of funding institutions) Agradecimientos Me gustaría comenzar este trabajo expresando mi gratitud a todas aquellas instituciones y personas que han contribuido a que esta tesis viese la luz.
    [Show full text]
  • Report 2018 Pension Adequacy
    PENSION ADEQUACY REPORT 2018 CURRENT AND FUTURE INCOME ADEQUACY IN OLD AGE IN THE EU VOLUME 1 European Commission Directorate-General for Employement, Social Affairs and Inclusion 1049 Brussels BELGIUM Manuscript completed in 2018 Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use that might be made of the following information. Luxembourg: Publications Office of the European Union, 2018 © European Union, 2018 Reuse is authorised provided the source is acknowledged. The reuse policy of European Commission documents is regulated by Decision 2011/833/EU (OJ L 330, 14.12.2011, p. 39). For any use or reproduction of photos or other material that is not under the EU copyright, permission must be sought directly from the copyright holders. Cover photo: ©Shutterstock PDF ISBN 978-92-79-85657-0 doi:10.2767/406275 KE-01-18-457-EN-N European Commission Directorate-General for Employment, Social Affairs and Inclusion Social Protection Committee The 2018 Pension Adequacy Report: current and future income adequacy in old age in the EU Volume I Joint Report prepared by the Social Protection Committee (SPC) and the European Commission (DG EMPL) 2018 Acknowledgements The 2018 Pension Adequacy Report (PAR) has been prepared by the Directorate General for Employment, Social Affairs and Inclusion of the European Commission (Unit C2 ‘Modernisation of social protection systems’, headed by Radek Malý (until 31 December 2016) and Ana Carla Pereira), in collaboration with the Social Protection Committee (SPC, chaired by Ulrika Hall) and its Working Group on Ageing Issues (SPC WG-AGE, chaired by Andraž Rangus) and the Indicators Sub-group (chaired by Rudi Van Dam, with Volker Schmitt chairing the discussions on the PAR).
    [Show full text]
  • Age and Productivity: Human Capital Accumulation and Depreciation
    Anna Ruzik-Sierdzinska, Maciej Lis, Monika Potoczna, Michele Belloni, Claudia Villosio Materials published here have a working paper character. They can be subject to further publication. The views and opinions expressed here reflect the author(s) point of view and not necessarily those of CASE Network. This report was prepared within a research project entitled NEUJOBS financed by the European Commission, under the 7th Framework Programme. Keywords: Productivity, Age-Earning Profiles, Lifelong Learning JEL codes: J24, J31 © CASE – Center for Social and Economic Research, Warsaw, 2012 Graphic Design: Agnieszka Natalia Bury EAN 9788371785962 Publisher: CASE-Center for Social and Economic Research on behalf of CASE Network al. Jana Pawla II 61, office 212, 01-031 Warsaw, Poland tel.: (48 22) 206 29 00, 828 61 33, fax: (48 22) 206 29 01 e-mail: [email protected] http://www.case-research.eu CASE Network Reports No. 114 2 AGE AND PRODUCTIVITY. HUMAN CAPITAL ACCUMULATION AND… The CASE Network is a group of economic and social research centers in Poland, Kyrgyzstan, Ukraine, Georgia, Moldova, and Belarus. Organizations in the network regularly conduct joint research and advisory projects. The research covers a wide spectrum of economic and social issues, including economic effects of the European integration process, economic relations between the EU and CIS, monetary policy and euro-accession, innovation and competitiveness, and labour markets and social policy. The network aims to increase the range and quality of economic research and information available to policy-makers and civil society, and takes an active role in on-going debates on how to meet the economic challenges facing the EU, post-transition countries and the global economy.
    [Show full text]
  • Strategy and Action Plan for Healthy Ageing in Europe (2012–2020)
    Regional Committee for Europe Sixty-second session Malta, 10–13 September 2012 Strategy and action plan for healthy ageing in Europe, 2012–2020 Regional Committee for Europe EUR/RC62/10 Rev.1 Sixty-second session + EUR/RC62/Conf.Doc./4 Malta, 10–13 September 2012 10 September 2012 122346 Provisional agenda item 5(c) ORIGINAL: ENGLISH Strategy and action plan for healthy ageing in Europe, 2012–2020 The WHO European Region has a rapidly ageing population. The median age is already the highest in the world, and the proportion of people aged 65 and above is forecast to almost double between 2010 and 2050. The average age of the population and the proportion of people above retirement age are also projected to increase fast, even in countries with life expectancies that are well below the European average. Allowing more people to lead active and healthy lives in later age requires investing in a broad range of policies for healthy ageing, from prevention and control of noncommunicable diseases (NCDs) over the life-course to strengthening health systems, in order to increase older people’s access to affordable, high-quality health and social services. Investing in healthy ageing has become key for the sustainability of health and social policies in Europe. A closing window of opportunity of relative growth of the labour force along with unfavourable economic prospects in many countries in Europe have made the need to step up the implementation of policies for active ageing particularly urgent. This document contains a draft strategy and action plan for healthy ageing in Europe.
    [Show full text]
  • Forschungsförderungen Und Forschungsaufträge 2009
    III-154 der Beilagen XXIV. GP - Bericht - Hauptdokument Teil 3 1 von 317 Bundesministerium für Wissenschaft und Forschung www.bmwf.gv.at Forschungsförderungen und Forschungsaufträge 2009 Faktendokumentation der Bundesdienststellen für 2009 Auszug aus der Bundesforschungsdatenbank 2 von 317 III-154 der Beilagen XXIV. GP - Bericht - Hauptdokument Teil 3 Eigentümer, Herausgeber und Verleger: Bundesministerium für Wissenschaft und Forschung Organisation, Layout und Technik: Mag. Irene Danler, DI Sascha Saxinger, Beatrix Schmid Alle BMWF, 1014 Wien, Minoritenplatz 5 Inhalt: Für die vollständige und valide Dateneingabe der Forschungsförderungen und -aufträge ist jedes Bundesministerium in seinem jeweiligen Wirkungsbereich verantwortlich. III-154 der Beilagen XXIV. GP - Bericht - Hauptdokument Teil 3 3 von 317 Faktendokumentation der Bundesdienststellen 2009 Im Jahr 2009 neu vergebene, laufende und abgeschlossene Projekte mit dem Finanzierungsbetrag, dem bisher bezahlten Betrag sowie dem 2009 bezahlten Teilbetrag, mit den Vertrags- und Abschlussdaten geordnet nach der vergebenden Stelle Alle Beträge in Euro 4 von 317 III-154 der Beilagen XXIV. GP - Bericht - Hauptdokument Teil 3 III-154 der Beilagen XXIV. GP - Bericht - Hauptdokument Teil 3 5 von 317 Inhaltsverzeichnis Bundeskanzleramt ............................................................................................ 2 Bundesministerium für Arbeit, Soziales und Konsumentenschutz .............................5 Bundesministerium für Bildung, Wissenschaft und Kultur (bis 21.2.2007) ...............13
    [Show full text]
  • Pension Wealth and Household Savings in Europe: Evidence from SHARELIFE
    Pension Wealth and Household Savings in Europe: Evidence from SHARELIFE Rob Alessiea,c, Viola Angelinia,c, Peter van Santenb,c,∗ aUniversity of Groningen bSveriges Riksbank cNetspar Abstract We use recently collected retrospective survey data to estimate the displacement effect of pension wealth on household savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the entire job history of the respondent, a fea- ture missing in most previous studies. We show that addressing measurement error problems is crucial to estimate the displacement effect when using survey data. We find that each euro of pension wealth is associated with a 47 (61) cent decline in non–pension wealth using robust (me- dian) regression. In the presence of biases from measurement errors and omitted (unobserved) variables, we estimate a lower bound to the true offset between 17% and 30%, significantly dif- ferent from zero. Instrumental variables regression estimates, although less precise, suggest full displacement. Keywords: Displacement effect, Lifetime income, Retrospective survey, Measurement error JEL: D91, H55, D31. ∗Corresponding author. Address for correspondence: Sveriges Riksbank, 103 37, Stockholm, Sweden. Telephone: 00 46 8 787 00 00. Fax: 00 46 8 21 05 31 Email addresses: [email protected] (Rob Alessie), [email protected] (Viola Angelini), [email protected] (Peter van Santen) Preprint submitted to the European Economic Review August 29, 2012 1. Introduction The demographic challenge of ageing populations has led and will lead European countries to reform their pension systems. For policymakers, understanding the effect that pension reforms will have on household and national saving is crucial.
    [Show full text]
  • Andreas Jansen, Institute for Work, Skills and Training (IAQ), University Duisburg-Essen
    Country-specific Work/Retirement-Cultures: A normative barrier for raising the standard retirement age? Andreas Jansen, Institute for Work, Skills and Training (IAQ), University Duisburg-Essen 3rd International ESS Conference, 13-15 July 2016, Lausanne, Switzerland Session: “Social preferences, institutions and performances in the labour market” Preliminary Version; Please do neither cite nor circulate Abstract The study has to clear objectives. The first aim is to explain the still existing variances in the labour market participation of older people in Europe by broadening the set of possible expla- nations by a cultural construct, namely the specific ‘work-retirement-culture' of a country. Sub- sequently it will be analysed if the work-retirement-culture functions as a barrier against re- forms of the pension system that might be reasonable from a pure economic perspective, but are entirely contrary to the respective work/retirement culture. With regard to the first objective, the results give some indications that the work/retirement culture could indeed be a further piece of the puzzle to explain differences in the labour market participation of older people in Europe since an early-exit culture can primarily be observed in countries with a comparably low labour market participation of older people aged between 55 and 64 years, while the opposite is true for countries showing an employment-oriented work/retirement culture. In addition the analysis of the change and persistence of the institutional setting has shown some evidence that the work/retirement culture at least partly functions as a barrier or promoter in pension reforms. Keywords: culture, labour market, transition to retirement, work/retirement culture, pension policy 1 1.
    [Show full text]
  • Progress Report
    Progress Report 2008–2009 We owe special thanks to the Austrian Science Fund (FWF) for its financial support for numerous projects of the research facilities of the Austrian Academy of Sciences All rights reserved Copyright © 2009 by Austrian Academy of Sciences Layout: Art Quarterly Publishing House Werbe- und PR-Agentur GmbH. Printed and bound: Wograndl 3 Table of contents Preface . 5 RESEARCH FACILITIES OF THE SECTION FOR MATHEMATICS AND NATURAL SCIENCES Biology and Medicine CeMM – Research Center for Molecular Medicine GmbH . 11 Breath Research Institute . 14 GMI – Gregor Mendel Institute of Molecular Plant Biology . 18 IMBA – Institute of Molecular Biotechnology GmbH . 22 Institute for Biomedical Aging Research . 26 Institute for Biophysics and Nanosystems Research . 30 Konrad Lorenz Institute for Ethology . 34 Earth Sciences Institute for Geographic Information Science . 37 Center for Geosciences . 40 Commission for the Palaeontological and Stratigraphical Research of Austria . 42 Commission for Geophysical Research . 45 Commission for Quaternary Research . 48 Commission for Basic Research on Mineral Raw Materials . 51 Mathematics, Simulation and Metrology Institute for Integrated Sensor Systems . 55 Acoustics Research Institute . 58 Johann Radon Institute for Computational and Applied Mathematics . 61 Commission for Scientific Visualization . 65 Physics and Materials Sciences Erich Schmid Institute of Materials Science . 68 Institute of High Energy Physics . 71 Institute for Quantum Optics and Quantum Information . 74 Stefan Meyer Institute for Subatomic Physic. 77 Environmental Research Institute for Limnology . 80 Institute of Technology Assessment . 83 Commission for Interdisciplinary Ecological Studies . 86 Space Research Space Research Institute . 89 Commission for Astronomy . 92 Interdepartmental Research Tasks Commission for Scientific Co-operation with the Austrian Federal Ministry of Defence and Sports .
    [Show full text]
  • Policies for an Ageing Workforce CEPS
    xtending average working lives by 10 years, while ensuring an adequate social Policies Esafety net for those unable to work into their late 60s and 70s, is a major social Policies for an Ageing Workforce policy challenge today and for the coming decades. Tackling this challenge involves for delving into policy areas that range from working conditions, skills and lifelong an Work-life balance, working conditions learning, pensions, socio-economic inequalities in health and life expectancy to the Ageing design of a much broader agenda on active ageing. and equal opportunities This book covers these issues in succinct chapters based on in-depth research by Workforce the authors. Despite the challenges of demographic ageing, it is important to keep in mind the words of Commissioner Thyssen: “… ageing does not just pose challenges. If Member States promote the right active ageing approach, this also offers opportunities. Firstly, active ageing means more social opportunities. Older people contribute to society too. We should empower them to work, learn and volunteer, according to individual needs, preferences and capacities. Secondly, active ageing means economic opportunities. Older people represent a growing market. Servicing this market will lead to business opportunities and innovations in which Europe could be a leader. And the experience and expertise of older people is an indispensable asset for our economies – an asset that increases further when they can properly pass the torch by mentoring younger generations.” Edited by Mikkel Barslund Authors: R. Anderson, M. Barslund, M. Bönisch, A. Cebulla, H. Dubois, C. Fechter, N. Hudson-Sharp, T. Göllner, J. Klotz, G. Naegele, J.
    [Show full text]
  • Caring for Children in Europe How Childcare, Parental Leave and Flexible Working Arrangements Interact in Europe
    CHILDREN AND FAMILIES The RAND Corporation is a nonprofit institution that helps improve policy and EDUCATION AND THE ARTS decisionmaking through research and analysis. ENERGY AND ENVIRONMENT HEALTH AND HEALTH CARE This electronic document was made available from www.rand.org as a public INFRASTRUCTURE AND service of the RAND Corporation. TRANSPORTATION INTERNATIONAL AFFAIRS LAW AND BUSINESS NATIONAL SECURITY Skip all front matter: Jump to Page 16 POPULATION AND AGING PUBLIC SAFETY SCIENCE AND TECHNOLOGY Support RAND TERRORISM AND Browse Reports & Bookstore HOMELAND SECURITY Make a charitable contribution For More Information Visit RAND at www.rand.org Explore RAND Europe View document details Limited Electronic Distribution Rights This document and trademark(s) contained herein are protected by law as indicated in a notice appearing later in this work. This electronic representation of RAND intellectual property is provided for non-commercial use only. Unauthorized posting of RAND electronic documents to a non-RAND Web site is prohibited. RAND electronic documents are protected under copyright law. Permission is required from RAND to reproduce, or reuse in another form, any of our research documents for commercial use. For information on reprint and linking permissions, please see RAND Permissions. This report is part of the RAND Corporation research report series. RAND reports present research findings and objective analysis that address the challenges facing the public and private sectors. All RAND reports undergo rigorous peer review
    [Show full text]
  • Joint Retirement in Europe
    Bo Honoré and Áureo de Paula Joint Retirement in Europe DP 10/2014-052 Joint Retirement in Europe∗ Bo E. Honor´e y Princeton University Aureo´ de Paula z UCL, S~aoPaulo School of Economics-FGV, CeMMAP, IFS and CEPR This Version: October 2014 Abstract In this project we study joint retirement of couples in Europe. We characterize various empirical regularities and use a model for simultaneous duration variables developed in Honor´eand de Paula (2014). Whereas conventionally used duration models cannot account for joint retirement, our model admits joint retirement with positive probability, allows for simultaneity and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on Nash bargaining and it is therefore interpretable in terms of economic behavior. We focus on the Survey on Health, Ageing and Retirement in Europe (SHARE) and the English Longitudinal Survey of Ageing (ELSA). JEL Codes: J26, C41, C3. ∗We acknowledge financial support from Netspar. Bo Honor´ealso acknowledges financial support from the National Science Foundation and from the Gregory C. Chow Econometric Research Program. Aureo´ de Paula also acknowledges financial support from the Economic and Social Research Council through the ESRC Centre for Microdata Methods and Practice grant RES-589-28-0001 and the European Research Council through the ERC Starting Grant 338187. Priscilla Fialho provided very able research assistance. yPrinceton University (Department of Economics), Princeton, NJ 08542. E-mail: [email protected] zUniversity College London (Department of Economics), S~aoPaulo School of Economics-FGV, CeMMAP and IFS, London, UK. E-mail: [email protected] 1 1 Introduction and Related Literature This project investigates the determinants of joint couples' retirement decisions in Europe.
    [Show full text]
  • Survey of Health, Ageing and Retirement in Europe (SHARE) As Active Ageing Index Data Source
    Survey of Health, Ageing and Retirement in Europe (SHARE) as Active Ageing Index data source Brief July 2019 Co-funded by the Note This brief is prepared within the framework of the joint project by the United Nations Economic Commission for Europe (UNECE) and the European Commission’s Directorate General for Employment, Social Affairs and Inclusion (DG EMPL). The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontier or boundaries. This brief has been prepared for UNECE and the European Commission. However, it should not be regarded as an official statement of these two organisations’ policies, and these organisations cannot be held responsible for any use which may be made of the information contained therein. The brief should be referred to as: UNECE / European Commission (2019) “Survey of Health, Ageing and Retirement in Europe (SHARE) as Active Ageing Index data source”, prepared by Yolanda González-Rábago and Antía Domínguez-Rodríguez of the University of the Basque Country (Bilbao), under contract with United Nations Economic Commission for Europe (Geneva), co-funded by the European Commission’s Directorate General for Employment, Social Affairs and Inclusion (Brussels). Co-funded by the Research Group on Social Determinants of Health and Demographic Change www.ehu.eus/opik Table of content Introduction ................................................................................................................................ 3 Comparability of indicators and availability of data .................................................................. 4 Domain 1.
    [Show full text]