Expected and preferred retirement age in Germany

Heß, Moritz

doi:10.1007/s00391-016-1053-x

Cited by 32 publications

(20 citation statements)

References 22 publications

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“…As we have seen, the findings in this paper support the concerns of rising social inequality in the transition from work to retirement [11,21]. While the high-skilled employees with tertiary education not only expect but also desire to work longer [49], we find a different development for low-educated older workers. They seem to have adapted their expected retirement age because of financial needs and in order to ensure a reasonable pension [19,48].…”

Section: Discussionsupporting

confidence: 76%

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Retirement Expectations in Germany—Towards Rising Social Inequality?

Heß

2018

Societies

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In the last 20 years, German policy makers have reformed the pension system and the labor market with the aim of prolonging working life. As a consequence, older workers' employment rate and average retirement age rose. In addition to the actual behavior of today's retiree cohorts, the reforms also influence the expected retirement age of future pensioners, the development of which will be investigated in this paper, arguing that they have adapted to the reforms and increased their expected retirement age. The analyses are based on data from the SOEP and DEAS survey and results show an increase of the expected retirement age. However, while high-skilled workers both want and expect to retire late, low-skilled workers prefer to retire early but expect that they have to work longer in order to ensure a reasonable pension. This finding hints at rising social inequality in the transition from work to retirement.

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Section: Discussionsupporting

confidence: 76%

“…Second, the explanatory power of the regression models is comparably low. This can be explained by the fact that the dependent variable is a subjective notion and not a hard fact, hence, correlations tend to be lower and the R 2 is comparable to that of previous studies [43,49]. Still, it must be acknowledged when interpreting the results.…”

Section: Discussionsupporting

confidence: 50%

Retirement Expectations in Germany—Towards Rising Social Inequality?

Heß

2018

Societies

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“…Our work contributes to an emerging body of evidence on inequalities in working longer and its association with health and well-being. Those with more disadvantaged socio-economic circumstances not only find themselves working longer than anticipated relative to their more advantaged counterparts [ 27 ], but the expected health benefits of longer working lives are not evident in empirical research. Indeed, working longer does not appear to confer health benefits [ 18 , 19 ], and delaying retirement is linked with poorer health, such as greater cardiovascular disease—an effect that is especially pronounced among those with lower earnings and manual occupations [ 28 ].…”

Section: Discussionmentioning

confidence: 99%

The decision to work after state pension age and how it affects quality of life: evidence from a 6-year English panel study

et al. 2018

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Backgrounddespite an increasing proportion of older people working beyond State Pension Age (SPA), little is known about neither the motivations for this decision nor whether, and to what extent, working beyond SPA affects quality of life (QoL).MethodsQoL was measured using the CASP-19 scale. Respondents in paid work beyond SPA were distinguished based on whether they reported financial constraints as the main reason for continuing in work. Linear regression models were used to assess the associations between paid work beyond SPA and CASP-19 scores among men aged 65–74 and women aged 60–69 (n = 2,502) cross-sectionally and over time using Wave 4 and Wave 7 of the English Longitudinal Study of Ageing.Resultsapproximately, one in five respondents were in paid work beyond SPA, one-third of whom reported financial issues as the main reason. These individuals reported significantly lower CASP-19 scores (β = −1.21) compared with those who retired at the expected/usual age. Respondents who declared being in paid work beyond SPA because they enjoyed their work or wanted to remain active, reported significantly higher QoL (β = 1.62). Longitudinal analyses suggest that those who were working post-SPA by choice, but who had stopped working at follow-up, also reported marginally (P < 0.10) higher CASP-19 scores.Conclusionspotential QoL benefits of working beyond SPA need to be considered in light of individual motivations for extending working life. Given the trend towards working longer and the abolishment of mandatory retirement ages, it is important that older people maintain control over their decision to work in later life.

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“…Germany started its reform in 1992 by increasing the statutory retirement age and closing almost all options for early retirement; however, the reforms in the 1990s were contradictory as although several early retirement pathways were closed, new ones were opened. From 2000 onwards the German reforms included further restrictions, such as gradually raising the statutory retirement age and basically all pathways of early retirement were abolished [14,15]. The change in Hungary started later, in 1996, and was initially less consequent.…”

Section: German and The Hungarian Pension Systemmentioning

confidence: 99%

“…It is expected that in 2005 and 2010 older employees in Hungary who work 1 The gap between the preferred and expected retirement age in Germany has been analyzed by Hess [14]. more or less voluntarily have a more positive attitude towards their job relative to prime-aged workers and therefore, higher job satisfaction than similarly aged German employees.…”

Section: Introductionmentioning

confidence: 99%