Issues for Implementing Phased Retirement in Defined Benefit Plans

Forman, Jonathan Barry; Scahill, Patricia

doi:10.1080/10920277.2003.10596105

Cited by 5 publications

(2 citation statements)

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“…They may, for example, prohibit workers to work for and receive a pension from the same employer at the same time (Chen and Scott 2003;Forman and Scahill 2003). Finally, health insurance may hamper phased or partial retirement or job changes of older workers, particularly if the worker has a chronic health problem (Hurd 1996).…”

Section: Obstaclesmentioning

confidence: 99%

Gradual Retirement: Preferences and Limitations

Kantarci

Soest

2008

De Economist

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SummaryIn the traditional retirement scenario, individuals work full-time or part-time until a given age, and then stop working abruptly. From the individual's point of view, it seems more attractive to have a smooth transition, with gradual retirement. In Sweden and other European countries, specific gradual retirement programs have been created in the past 20 years, first in combination with early retirement programs and later to increase labour market participation of older workers. This paper surveys the existing literature on gradual retirement in the US and Europe and analyzes the relevance of gradual retirement in the Netherlands as a tool to keep people employed longer.

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Section: Obstaclesmentioning

confidence: 99%

Gradual Retirement: Preferences and Limitations

Kantarci

Soest

2008

De Economist

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“…Two general terms are used in the literature to categorise labour market participation after retirement: bridge employment and unretirement (Forman and Scahill, 2003;Cahill et al, 2006;Van Solinge and Henkens, 2014). Bridge employment is any form of employment that a person of an eligible age for retirement benefits takes after relinquishing a career job.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

What drives older adults to continue working after official retirement age?

et al. 2022

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The need to ensure the economic wellbeing and quality of life of those who reach the official retirement age is a matter of concern in the world of social services and in social policy making. Since some working older adults may be forced to retire when they reach the official retirement age while others retire voluntarily, the study is based on a dedicated survey among 508 persons who retired both willingly and unwillingly for good after reaching the official retirement age and 437 persons who continued working uninterruptedly. The findings show that the odds of staying on the job after retirement age are contingent on the socio-demographic and health-related characteristics of the older adult. Furthermore, the economic predictors of remaining in the labour force after retirement age depend on how strongly the older adult wishes to retire. Those who continue working after retirement age and those who retire willingly are undifferentiated in the level of financial support that they give others. Comparing older adults who continue working uninterruptedly with those who retire unwillingly, the chances of being among the former are higher among those who are better off before reaching retirement age. These results emphasise the need to extend welfare and financial-support policies to older adults who are forced to retire, in order to minimise the economic blow that this path to retirement causes.

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Implications of Full and Partial Retirement for Replacement Rates in a Defined Benefit System

Kantarci

Smeets²,

Soest

2013

Geneva Pap Risk Insur Issues Pract

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Flexible retirement arrangements in which workers can retire abruptly or gradually at the age of their choice with higher retirement income as a reward for working more or longer fit well with the changes in life course patterns in the past decades and may help to keep pension systems sustainable in times of population ageing. We analyse the flexibility of an existing pension arrangement in the Netherlands, characterised by a subsistence-level pay-as-you-go state pension combined with a supplementary occupational pension. We use the actual rules of a large occupational pension fund, the state pension and the tax system to calculate net replacement rates at ages 60 to 70 in full and partial retirement scenarios. We find that partial retirement results in a smoother income path and encourages employees to defer their pension claims beyond age 65. Moreover, while occupational pensions give close to actuarially fair rewards for continued full-time or part-time work, the state pension does not. This makes postponing retirement less attractive for low-income groups in particular.

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Issues for Implementing Phased Retirement in Defined Benefit Plans

Cited by 5 publications

References 0 publications

Gradual Retirement: Preferences and Limitations

Gradual Retirement: Preferences and Limitations

What drives older adults to continue working after official retirement age?

Implications of Full and Partial Retirement for Replacement Rates in a Defined Benefit System

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