Working after age 50 in Spain. Is the trend towards early retirement reversing?

Abstract

As the baby boom cohort approaches retirement, there has been considerable uncertainty about the economic sustainability of the social security systems in most of the developed world. In recent decades, Spain has had both one of the oldest populations and the lowest levels of employment among the population aged 50 and over in Europe. This article addresses these issues by investigating the relationship between ageing and labour participation in the adult population. We examine the changes in employment exit patterns among men and women between 1999 and 2012, and the factors which influence early retirement, using the Spanish Labour Force Survey (panel dataset). We found clear gender effects in retirement behaviour in terms of the shares of the population who were not working and the predictors of early retirement. The partner is shown to be more relevant in the retirement timing decisions of men, while dependents are found to be more relevant in the decisions of women. Moreover, the likelihood of exiting the labour market early appears to be decreasing among women, and increasing among men.

Predictors of Early Retirement Intentions in Croatia

“…The availability of institutional early retirement options most probably functions as a pull factor; labor inactivity among the elderly is likely to be particularly high in countries in which early retirement programs have been heavily advocated (Gómez-Léon & Miret-Gamudi, 2014). On the other hand, making early retirement less generous and rewarding individuals for postponing retirement induces workers to delay retirement (Euwals, van Vuuren, & Wolthoff, 2010).…”

“…Bonsdorff et al, 2010). Highly educated individuals are less likely to retire early (Gómez-Léon & Miret-Gamudi, 2014;Siegrist et al, 2007). Retirement intentions are also gender-dependent, with mixed evidence (Bonsdorff et al, 2010;Dahl, Nilsen, & Vaage, 2003).…”

Expected Lifetime in Different Employment Statuses: Evidence From the Economic Boom-and-Bust Cycle in Spain

“…Finally, the imbalances in labor market participation between men and women have decreased during the recent economic crisis. This change was mainly due to a faster decline in male employment, especially during the first few years of the crisis, as a consequence of job destruction in construction and other male-dominated economic sectors (Gómez León & Miret Gamundi, 2014; Périvier, 2014).…”

Retirement decisions and family characteristics in Costa Rica

“…Additionally, from a non-monetary perspective, the desire of spending time together accelerates retirement decisions among couples (Gustman and Steinmeier, 2004;Coile, Diamond, Gruber and Jousten, 2002). Given this joint planning, it is expected that non-married individuals tend to work at older ages than married ones (Hokema and Scherger, 2016;Gómez and Miret, 2014;Ogg and Renaut, 2007;Szinovacz, DeViney and Davey, 2001).…”

“…Exits from the job market are closely related to informal monetary and nonmonetary transfers. In the U.S. (Hokema and Scherger, 2016;Szinovacz, DeViney and Davey, 2001) and among Spanish women (Gómez and Miret, 2014), individuals who transfer money to children tend to delay retirement. In Italy, when retiree's income is higher, their adult children are more likely to live with them (Manacorda and Moretti, 2006), suggesting processes of intergenerational transfers within the household.…”