Education and retirement: does University education at mid-age extend working life?

Abstract

To our knowledge, this paper provides the first study evaluating the effects of higher education for adults on the timing of retirement. Using detailed longitudinal population register data 1982-2010, we track first-time enrollees in higher education in 1992-1993. Our sample is aged 42-55 at the time of enrollment and thus aged 60-73 in 2010. We find that higher education increases labor market survival rates when aged 61-66 by about 5 percentage points. The estimates represent relatively large effects. Tentative calculations indicate that if enrollment occurs at age 42, the retirement delay represents about one percent in yearly earnings returns per year of tertiary education. JEL classification: H52, H55, I28

Which features of Parkinson's disease predict earlier exit from the workforce?

“…The reason for the discrepancy between previous studies and our findings is unclear, but it is likely that differences in societal working and disability patterns play a role. Additionally, 80% of our population had a college education and there is some evidence that individuals with higher levels of education work longer [10]. However, neither our study nor others [4,5] has found a clear impact of education level on leaving the workforce in PD.…”

Lifelong learning and the continued participation of older Norwegian adults in employment

“…There are, however, some high quality studies using longitudinal data and quasi-experimental designs from the US and Sweden that have investigated whether adult education had a causal effect on earnings, employment and/or retirement (Jacobson et al, 2005a(Jacobson et al, , 2005bJepsen, Troske, & Coomes, 2014;Stenberg & Westerlund, 2013, 2016. As the Swedish educational system, labour market and welfare system are quite similar to the Norwegian system, the results from the Swedish studies are most relevant for our study.…”

“…Although there is evidence that attaining adult education late in life may increase older workers' employability and their motivation to postpone retirement (Fourage & Schils, 2008;Groot & van den Brink, 2000;Hagen & Nadim, 2009;Hällsten, 2012;Jacobson, LaLonde, & Sullivan, 2005a, 2005bJepsen, Troske, & Coomes, 2014;Nordlund, Stehlik, & Strandh, 2013;Picchio & Ours, 2011;Stenberg & Westerlund, 2013, 2016Wiborg, Sandven, & Skule, 2011), some studies remain unconvinced (Raemdonck, Tillema, Grip, Valcke, & Segers, 2012;Stenberg, de Luna, & Westerlund, 2012). However, few are based on high quality data, with some exceptions (Stenberg & Westerlund, 2013, 2016. According to Raemdonck et al (2015), there is a need to study the formal and informal learning of ageing employees in more detail and examine how both forms of learning contribute to employability, defined as the ability to find and maintain employment.…”

A Global Examination of Policies and Practices for Lifelong Learning

“…Rapid technological advancement speeds up obsolescence of job skills, increasing the need for occupational training in new skills for those of all ages (Bloom, Canning & Fink, ; Guzman, Pawliczko, Beales, Till, & Voelcker, ; ILO, ). Stenberg and Westerlund () found that postsecondary education for adults aged 42 to 55 has the potential to extend labor force participation and delay retirement. Despite potential benefits, older workers are less likely to participate in training programs than their younger counterparts perhaps because of a lack of understanding of the economic benefits or fear of returning to the classroom (Fouarge, Schils, & de Grip, ; Zwick, ).…”