Retirement of Dutch Male Older Workers: The Role of Mid-Life Educational, Work, Health, and Family Experiences

Abstract

Objectives. The life course perspective suggests that the retirement process cannot be understood thoroughly without paying attention to distal life experiences. In empirical studies on predictors of retirement, however, mid-life experiences often have remained implicit or have been neglected. This study aims to improve our understanding of retirement, by studying the impact of mid-life experiences in the educational, work, health, and family life spheres on retirement intentions and behavior.Methods. Using panel data of 1229 Dutch male older workers, we estimated linear regression models to explain retirement intentions and Cox proportional hazards regression models to explain retirement behavior.Results. Mid-life experiences in all studied life spheres were related to retirement intentions. For mid-life work experiences (dismissal and employer change) the relationships were explained by the perceived financial consequences of these experiences (pension shortcomings). The effects of most mid-life experiences in the educational, health, and family spheres remained significant after controlling for different aspects of the preretirement financial situation. Only some of the predictors of retirement intentions also predicted retirement behavior.

Hello pension, goodbye tension? The impact of work and institutions on older workers’ labor market participation in Europe

“…As individual International Journal of Ageing and Later Life characteristics have been addressed in earlier research (Blö ndal & Scarpetta 1999;Damman et al 2009;European Commission 2009;Fischer & Sousa-Poza 2006;Hayward et al 1989Hayward et al , 1998Mein et al 2000;OECD 2011;Schils 2008; Von Bohnsdorff 2009), we will not formulate specific hypotheses about their association with participation, but take them into account as control variables. First, the literature identified several so-called push and pull factors.…”

Retirement Lost?

“…A recent study of a life course approach to retirement using Dutch longitudinal data clearly showed that retirement is a matter of personal agency within structure over time and that income and wealth are signifi cant variables but they are not the only signifi cant or most important explanatory variables when it comes to explaining retirement. Further, experiences in midlife set the stage for retirement in later life (Damman, Henkens, & Kalmijn, 2010 ).…”

Untitled

“…While higher education was associated with later retirement in the UK (Schils 2008), the US (Hayward et al 1989(Hayward et al , 1998, and Norway (Blekesaune & Solem 2005), studies in other countries reported the opposite effect (Fischer & Sousa-Poza 2006). Finally, family and partners play a role: individuals who had a partner and those with children appeared to retire earlier in some countries (Damman et al 2009;Schils 2008). Moreover, different strands of literature discussed that individual International Journal of Ageing and Later Life retirement decisions were often taken as a joint decision of spouses (see e.g., Blau 1998;Coile 2004) and that informal care obligations affected retirement planning (see e.g., Dentinger & Clarkberg 2002).…”

“…Moreover, different strands of literature discussed that individual International Journal of Ageing and Later Life retirement decisions were often taken as a joint decision of spouses (see e.g., Blau 1998;Coile 2004) and that informal care obligations affected retirement planning (see e.g., Dentinger & Clarkberg 2002). With regard to work characteristics, studies showed that physical demand (Blekesaune & Solem 2005;Hayward et al 1989Hayward et al , 1998 and part-time work (Damman et al 2009;Hayward et al 1998) decreased labor market participation. Findings regarding compensation were not straightforward.…”

“…While higher hourly wages were related to earlier retirement in the US (Hayward et al 1989(Hayward et al , 1998 and the UK (Schils 2008), this association was the opposite in The Netherlands and Germany (Schils 2008). Also, there was some evidence showing that wealth related to later retirement (Damman et al 2009). Results regarding institutional characteristics showed that a higher unemployment rate in a country and a lower gross domestic product (GDP) per capita was associated with earlier retirement, while employment protection did not affect early retirement (Blö ndal & Scarpetta 1999;Fischer & Sousa-Poza 2006;Kim 2009).…”