Factors Contributing to Retirement Decisions in Denmark: Comparing Employees Who Expect to Retire before, at, and after the State Pension Age

Meng, Annette; Andersen, Lars L.

doi:10.3390/ijerph17093338

Cited by 19 publications

(22 citation statements)

References 24 publications

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“…Having one or more disease was associated with intention to retire early. This finding is in line with earlier findings which shows that poor physical health is an expected reason for retiring (Meng et al 2020;Wahrendorf et al 2017). Another recent study from Sweden reported that people with better health and positive work prospects were less likely to support retiring earlier (Sousa-Ribeiro et al 2021).…”

Section: Discussionsupporting

confidence: 89%

“…The retirement decision is complex and needs to be seen from multiple perspectives as it involves multiple factors and aspects of life. Studies have highlighted the role of family, life partners or close friends (Nilsson et al 2011) and work-life balance (Meng et al 2020) on the retirement decision. Factors outside of work such as enjoying life, having increased flexibility, more time to spend with a spouse and grandchildren, and taking care of others, have also been studied in relation to retirement intentions (Reeuwijk et al 2013).…”

Section: Introductionmentioning

confidence: 99%

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Quality of work community and workers’ intention to retire

Neupane

Kyrönlahti

Kosonen

et al. 2022

Int Arch Occup Environ Health

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Purpose To study the workers’ perception of the quality of work community and its association with intention to retire early, separately among women and men working in Finnish postal service. Methods A questionnaire survey was sent to all Finnish postal services employees aged ≥ 50 years in 2016 and 44% (n = 2096) replied to the survey (mean age 56.3, 40% women). Employee’s intention to retire before statutory retirement was measured on a scale of 1–5 and dichotomized. The quality of work community was defined by four composite variables: equality at work, flexibility at work, supportive work environment and health or other reason and trichotomized by their tercile values. Odds ratio (ORs) and their 95% confidence intervals (CIs) for associations of quality of work community with intention to retire were calculated separately for men and women using log binomial regression models adjusted for potential confounders. Results About one-third of respondents intended to retire early with no significant gender difference in retirement intention. Low equality at work (women OR 2.77, 95% CI 1.60–4.81; men 2.84, 1.80–4.48) and low flexibility at work (women 3.30, 1.94–5.60; men 2.91, 1.88–4.50) was associated with higher likelihood of intention to retire. Among women intention to retire was found less likely due to low supportive work environment (0.52, 0.31–0.89) and among men due to intermediate health or other reason (0.65, 043–0.98). Conclusion The results highlight the importance of the quality of work community as well as the promotion of work-related health in order to encourage employees to remain at workforce for longer.

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Section: Discussionsupporting

confidence: 89%

Section: Introductionmentioning

confidence: 99%

Quality of work community and workers’ intention to retire

Neupane

Kyrönlahti

Kosonen

et al. 2022

Int Arch Occup Environ Health

View full text Add to dashboard Cite

show abstract

“…In addition, it should be noted that the Nagelkerke R Squares were quite low (see Tables 3 and 4 ), indicating that besides prior SA, DP, and the sociodemographic covariates, there were other factors that can explain work participation past the age of 65 than those accounted for in this model. Such factors could, e.g., be influence by significant others [ 15 , 55 ], the employer [ 11 ], societal and group norms regarding retirement [ 56 ], work environment [ 22 , 51 ], motivation to continue in paid work [ 22 ], personality [ 57 ], type of morbidity, as well as duration, rate (part- or full-time), and number of SA and DP spells. Moreover, one limitation is the possible overlap between SA and DP, which might affect the results of the analysis in which SA and DP were separate exposure variables.…”

Section: Discussionmentioning

confidence: 99%

Associations of sickness absence and disability pension due to mental and somatic diagnoses when aged 60–64 with paid work after the standard retirement age; a prospective population-based cohort study in Sweden

et al. 2021

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Background The proportion of people working beyond age 65 is increasing. We aimed to explore whether sickness absence (SA) and disability pension (DP) due to mental, somatic, or both diagnoses when aged 60–64 were associated with being in paid work when aged 66–71. Methods This prospective population-based cohort study included all 98,551 individuals who in 2010 turned 65 years, lived in Sweden, and were in paid work at some point when aged 60–64. Data from three nationwide registers were used with 2010 as baseline, with SA or/and DP as the exposure variables (2005–2009) and paid work as the outcome variable (2011–2016). Logistic regression was conducted to calculate odds ratios (OR) with 95% confidence intervals (CI) for the association between exposures and outcome, controlling for sociodemographic factors. The analyses were also stratified by sex. Results Nearly half were in paid work during follow-up. Those with SA due to mental diagnoses had lower likelihood of being in paid work among both sexes (women OR: 0.76; 95% CI: 0.69–0.84; men 0.74; 0.65–0.84), while this association was smaller for SA due to somatic diagnoses (women 0.87; 0.84–0.91; men 0.92; 0.89–0.96). SA due to both mental and somatic diagnoses was associated with a lower likelihood of paid work for men (0.77; 0.65–0.91), but not women (0.98; 0.88–1.09). Regardless of diagnosis group and sex, DP had the strongest association with not being in paid work (women mental DP 0.39; 0.34–0.45; women somatic DP 0.38; 0.35–0.41; women mental and somatic DP 0.28; 0.15–0.56; men mental DP 0.36; 0.29–0.43; men somatic DP 0.35; 0.32–0.38; men mental and somatic DP 0.22; 0.10–0.51). Combined SA and/or DP demonstrated ORs in-between the diagnosis groups of SA and DP alone (e.g., mental SA and/or DP women and men combined 0.61; 0.57–0.65). Conclusions SA and DP were negatively associated with being in paid work after the standard retirement age of 65. The association was especially strong for DP, irrespective of diagnosis group. Moreover, compared to somatic diagnoses, SA due to mental diagnoses had a stronger association with not being in paid work. More knowledge is needed on how mental SA impedes extending working life.

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“…Pension decisions are also influenced by factors related to the design of the social security system [ 51 , 52 , 53 ]; including the statutory retirement age [ 36 , 44 , 54 , 55 , 56 , 57 ] and the ongoing reforms of pension systems [ 58 ]. Factors of an individual nature include: health status [ 22 , 39 , 50 , 59 , 60 , 61 , 62 , 63 , 64 ]; life expectancy [ 65 , 66 ]; characteristics of work and occupation [ 59 , 67 , 68 , 69 ]; job satisfaction [ 63 , 70 , 71 , 72 ]; marital status and family conditions, including caring responsibilities [ 50 , 73 , 74 , 75 ]. The decision to retire may also be influenced by the wish for more leisure [ 64 ].…”

Section: Literature Review—neoclassical and Behavioral Determinants O...mentioning

confidence: 99%

Does the Formulation of the Decision Problem Affect Retirement?—Framing Effect and Planned Retirement Age

Jedynak

2022

IJERPH

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The aim of the study is to fill the research gap in relation to one of the behavioral factors that have a potential impact on retirement decisions—the framing effect. A research question addressed in the study is whether the way in which the decision-making problem is formulated (the framing effect) influences decisions on the planned retirement age. To answer this question, an original research questionnaire was developed. It included a description of a hypothetical pension system and experimental vignette questions. The research was conducted on the basis of answers given by 1079 randomly selected respondents who were participants of the pension system in Poland before retirement. In the analysis of the results, non-parametric tests and multiple logistic regression were used to compare response distributions. As a result of the conducted research, it was proven that the framing effect significantly affects the extension of the planned retirement age. At the same time, it was found that loss framing affects pension decisions to a greater extent than gain framing. It has also been noted that women are more susceptible than men to the framing of pension decisions. An application conclusion resulting from the conducted research is indicated as the possibility of the intentional use of the framing effect by decision-makers in order to increase the effective retirement age.

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Factors Contributing to Retirement Decisions in Denmark: Comparing Employees Who Expect to Retire before, at, and after the State Pension Age

Cited by 19 publications

References 24 publications

Quality of work community and workers’ intention to retire

Quality of work community and workers’ intention to retire

Associations of sickness absence and disability pension due to mental and somatic diagnoses when aged 60–64 with paid work after the standard retirement age; a prospective population-based cohort study in Sweden

Does the Formulation of the Decision Problem Affect Retirement?—Framing Effect and Planned Retirement Age

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