Estimating the 'appropriate' age for retirement as a function of perceived occupational characteristics

The 'appropriate' age for retirement as perceived by 120 young, 120 middle-aged, and 120 elderly adults was investigated. No participants displayed any difficulties in expressing an opinion about the minimum and maximum 'appropriate' ages for retirement for various different occupations. Participants' representations of the 'appropriate' retirement age varied primarily as a function of the perceived physical constraints involved in the occupation but also depended on their age (the younger the respondent, the lower the perceived 'appropriate' minimum retirement age). There was no tendency among the young adults to wish to prolong the work life of older individuals. There was no tendency in any of the three age groups to associate age of retirement with perceived cognitive or social and organizational characteristics of work: only the perceived physical demands of work predicted age at retirement.     

Unemployment and Retirement in a Model with Age‐specific Heterogeneity

This paper presents a model where young and old workers compete for one type of jobs in the presence of retirement opportunity. Within this framework, we show that increased retirement opportunities (such as a decrease of the retirement age) has most of the time a depressing impact on the unemployment rate. Indeed the number of vacancies posted by firms is influenced by the probability that an old worker is going into retirement. We show that the degree to which younger workers are influenced by retirement of older workers depends on the relative productivity of young and older workers. It is only when older workers are much more productive than young workers that retirement may benefit to unemployment.     

整合工作、退休与一生收益决策的最优投资组合研究

将工作时间和退休年龄视为内生变量,用一个包含随机死亡概率和不确定劳动收入的标准化模型,探讨个人一生最优投资组合,拓展投资领域,使投资不仅包括购买股票和债券,而且还包括购买年金。研究表明,将劳动力供给看作内生变量不仅能提高老年人股票持有量,而且能极大提高年轻人工作努力程度,显著改善个人一生福利。此外,引入年金也将导致老年人提前退休和更多参与金融活动。最后,如果考虑取决于年龄的闲暇偏好,随着接近退休年龄,个人将减少工作时间和股票持有量。     

Associations between stress at work and attitudes towards retirement in hospital physicians

There is a need to understand the associations between attitudes towards retirement in specific occupations and various psychosocial and work-related factors. This study identified correlates of retirement thoughts and retirement preference in hospital physicians. The sample comprised 447 (251 male and 196 female) physicians from three hospital districts in Finland. After adjustment for gender, age and salary, minor psychiatric morbidity increased likelihood of retirement thoughts and retirement preference. Retirement thoughts and retirement preference were more common in doctors reporting low job control, poor teamwork and unjust supervision than in doctors perceiving their working conditions more favorably. Work preference was associated with high overwork. The associations of work characteristics with retirement thoughts and retirement preference largely persisted after control for indicators of health and social circumstances. In conclusion, in addition to demographic and financial factors and health, retirement attitudes in hospital physicians seem to be related to organizational and managerial factors that are potentially amendable to intervention. This has implications for retaining hospital physicians who might otherwise retire.     

Associations between stress at work and attitudes towards retirement in hospital physicians

Abstract

There is a need to understand the associations between attitudes towards retirement in specific occupations and various psychosocial and work-related factors. This study identified correlates of retirement thoughts and retirement preference in hospital physicians. The sample comprised 447 (251 male and 196 female) physicians from three hospital districts in Finland. After adjustment for gender, age and salary, minor psychiatric morbidity increased likelihood of retirement thoughts and retirement preference. Retirement thoughts and retirement preference were more common in doctors reporting low job control, poor teamwork and unjust supervision than in doctors perceiving their working conditions more favorably. Work preference was associated with high overwork. The associations of work characteristics with retirement thoughts and retirement preference largely persisted after control for indicators of health and social circumstances. In conclusion, in addition to demographic and financial factors and health, retirement attitudes in hospital physicians seem to be related to organizational and managerial factors that are potentially amendable to intervention. This has implications for retaining hospital physicians who might otherwise retire.     

Grey Advantage: New strategies for the old

With nearly one fifth of the population of the industrialized world soon to be beyond a traditional retirement age, businesses need to re-appraise their attitudes towards both older workers and older customers. Whilst some public and private sector organizations may have signalled such intentions, the gap between the rhetoric and reality of ‘third age’ employment and grey market development is still substantial. Analysing the ‘Age-Quake’, this article reviews current ageing population trends and associated business agendas. Using case study analysis, it then challenges three perceived ‘grey discontinuities’, as well as the traditional perception of simplistic step-change declines in physical and mental abilities and economic activity at the traditional retirement age. Deriving from this, the article challenges the older received wisdom by offering the individual assessment of ‘third-agers’ in terms of abilities as employees and tastes as customers as two generic strategies to assist managers in the strategic alignment of their organizations in pursuit of “grey advantage”.     

Psychosocial predictors of health status

This prospective study examined, in a sample of male and female adults, the relationship between specific psychosocial factors and health status. Measures of stress, health habits, social support, Type A behaviour, and coping style were collected for 203 professional employees in a large aerospace organization in 1988. One year later a follow-up questionnaire assessing self-reported physical illness and job burn-out was administered resulting in a final sample of 95 employees. When adjustments for age, sex, education, and initial psychological well-being were made, perceived stress, physical exercise, and an avoidant coping style significantly contributed to predictions of physical illness in multiple regression analyses. Employees who possessed less hardy appraisals of work/life and expressed greater Type A behaviour reported significantly more fatigue and exhaustion one year later. Type A individuals also reported being significantly less sensitive and caring towards others. Finally, individuals who perceived less stress and expressed more cognitive hardiness reported significantly greater work/life satisfaction. Overall, the data supported the view that psychosocial factors may be differentially associated with diverse physical and psychological health outcomes.     

Exploring Factors Influencing the Risky Cycling Behaviors of Young Cyclists Aged 15–24 Years: A Questionnaire-Based Study in China

Road traffic crashes are the leading cause of death for young people, among whom cyclists account for a higher percentage of injuries and deaths than any other road users. This study aimed to examine the factor structure of the Young Cyclist Behavior Questionnaire (YCBQ) and investigate the relationships among demographic characteristics, cycling use-related variables, perceived risk, perceived cycling skills, and risky cycling behaviors among young people. A sample of 448 cyclists (mean age of 20.37 years) completed the questionnaire. Exploratory factor analysis, confirmatory factor analysis, and structural equation modeling were utilized. The YCBQ had a clear factorial structure, items with high factor loadings, and good internal consistency. The five-factor structure included traffic violations, impulsive behaviors, ordinary violations, distractions, and errors. Risky cycling behaviors could be explained by gender, age, perceived risk, and perceived cycling skills, with the model explaining 37% of the variance. Gender had the greatest impact on risky cycling behaviors; male individuals were more likely to engage in risky behaviors. Young cyclists with higher levels of perceived risk had lower probabilities of engaging in risky cycling behaviors. Cyclists with lower scores on perceived cycling skills were more likely to report engaging in risky cycling behaviors. Age significantly explained risky behaviors; the younger the cyclist was, the higher his or her risky behaviors score. This research provides a theoretical foundation for the prevention of risky behaviors among young cyclists. Regarding intervention design, attention to the identified gender differences, the need to strengthen the ability to perceive risk, and the importance of road safety education for young cyclists may promote safer cycling.     

Early Retirement: The Case of The Netherlands

ABSTRACT This article takes a closer look at the scope of actual early retirements, reasons for choosing early retirement, the popularity of different types of flexible retirement schemes, and the status of elderly employees within their own organization. It appears that positive reasons for choosing early retirement are more often mentioned by persons in higher professional groups, by those with a higher level of education, and by those who work in the civil service or the service sector. Neutral and negative reasons are mentioned more often by persons in lower professional groups, by those with a lower level of education, and by those working in the industrial sector. Although the motives for opting for early retirement differ, there do not appear to be great differences between categories of respondents if they have been able to choose their age at retirement personally, within specified age limits. Approximately a quarter of the respondents indicated they would leave work at the age of 60, even if this meant a 30% drop in net income.     

Older adults' attitudes toward death: links to perceptions of health and concerns about end-of-life issues

The current study had two primary goals, to determine whether: 1) self-rated mental and physical health, pain, and experience with health problems were predictors of elderly adults' attitudes toward death; and 2) death attitudes predict end-of-life medical treatment concerns. Participants were 109 adults, 65 years of age or older (M=78.74 years), recruited from the local community. Regression analysis indicated that poorer perceived physical health predicted a greater likelihood of viewing death as an escape, and poorer perceived mental health predicted a greater fear of death. Viewing death as an escape and fearing death predicted end-of-life medical treatment concerns; a greater endorsement of either attitude predicted more concern. Possible explanations for the links between perceived health, attitudes toward death, and concern about end-of-life issues are suggested.     

Sickness presenteeism and sickness absence over time: A UK employee perspective

This paper examined the influence of sickness presenteeism (SP), defined here as going to work despite illness, and sickness absenteeism (SA) behaviour on employee psychological well-being, work performance and perceived organisational commitment in a sample of 552 UK workers. Self-report measures were administered on 2 occasions, separated by 1 year, to employees from 4 public sector and 2 private sector organisations. Structural equation modelling was used to evaluate simultaneous influences of SP and SA on outcomes over time. Results suggested that employees reporting SP reported lower work performance in comparison to those reporting no SP, when measured concurrently but not over time. Employees reporting any SP in the previous 3 months showed relatively reduced psychological well-being but there was no significant association over time. Six or more days SP was associated with a reduction in employee perceptions that their organisation was committed to them, concurrently and over time. There were no significant influences of SA on any outcome measure. Our results strengthen previous research and suggest that SP, but not SA, has implications for individual outcomes. The findings have implications for the way organisations manage their sickness absence systems.     

The relationship between perceived employability and subsequent health

Being capable of getting new employment may enable an employee to cope with turbulent situations or deteriorating job conditions. Individuals who have higher perceived employability are likely to appraise a situation at work more favourably, and consequently experience better health and well-being. The aim of the present study was to investigate the relationship between perceived employability and subsequent health, while controlling for baseline health, background factors, and work environment exposures. The study is based on 53 items in the National Working Life Cohort in Sweden from two data collections (2004 and 2005), comprising 1918 individuals. Forced entry hierarchical regression analysis showed that, after controlling for demographics, psychological demands, control, and ergonomic exposures, perceived employability was positively associated with global health and mental well-being, but unrelated to physical complaints. When baseline health status was added, perceived employability was still a significant predictor of two out of three outcome variables. Individuals with higher perceived employability had a tendency to report better health and well-being a year later. It is concluded that how an employee perceives his or her possibilities in regard to acquiring new employment is relevant for well-being at a later stage. Perceived employability, which has been little studied before, is therefore a useful concept in health promotion, both at the individual and at the organizational level.     

Early Retirement in Italy: Recent Trends

Abstract. The analysis presented provides new statistical information on pensioners receiving seniority retirement benefits and highlights the positive effects of specific factors on their pension income. The statistical estimates suggest that work incentives are weak and steady job exits before the normal retirement age continue, especially for civil servants. In particular, since seniority benefits are based on a long contribution history, their corresponding level of pension income is high. This is not true for pensioners receiving old age benefits because of their incomplete work history.     

Discrepancies between chronological age and personal age as a reflection of unrelieved worker stress

The general proposition that stress-related variables will be associated with discrepancies between chronological age and perceived personal age of working adults was examined. Responses from a field survey of day, afternoon, and night fixed-shift workers in a large manufacturing organization (n = 1674) were used to explore the relationships between a variety of reported stress-related variables and personal age constructs. Discrepancies between perceived personal age and chronological age were reported by a large proportion of the workers surveyed. Three categories of stress-related variables each accounted for a significant proportion of the variance in discrepancies. As hypothesized, the reported presence of stressors and the frequency/extent of strains (stress-related outcomes) were positively correlated with feeling older than one's chronological age. In addition, the reported presence of support mechanisms for coping with stressors was negatively correlated with feeling older than one's chronological age. The manner in which work and non-work stress may impinge upon personal age perceptions is discussed, and appropriate avenues for future research in this domain are considered.     

The relationship between perceived employability and subsequent health

Abstract

Being capable of getting new employment may enable an employee to cope with turbulent situations or deteriorating job conditions. Individuals who have higher perceived employability are likely to appraise a situation at work more favourably, and consequently experience better health and well-being. The aim of the present study was to investigate the relationship between perceived employability and subsequent health, while controlling for baseline health, background factors, and work environment exposures. The study is based on 53 items in the National Working Life Cohort in Sweden from two data collections (2004 and 2005), comprising 1918 individuals. Forced entry hierarchical regression analysis showed that, after controlling for demographics, psychological demands, control, and ergonomic exposures, perceived employability was positively associated with global health and mental well-being, but unrelated to physical complaints. When baseline health status was added, perceived employability was still a significant predictor of two out of three outcome variables. Individuals with higher perceived employability had a tendency to report better health and well-being a year later. It is concluded that how an employee perceives his or her possibilities in regard to acquiring new employment is relevant for well-being at a later stage. Perceived employability, which has been little studied before, is therefore a useful concept in health promotion, both at the individual and at the organizational level.     

Social Security Wealth and Retirement Decisions in Italy

Abstract. This paper uses administrative data to study the retirement decisions of Italian private‐sector non‐agricultural employees during the period 1977–97. Our analysis tries to assess the importance of the financial incentives built into the social security system. The basic idea is very simple: at any given age, and based on the available information, workers compare the expected present value of two alternatives: retiring today or working one more year, and then choose the best one. A key role in this kind of comparisons is played by social security wealth, whose level and changes reflect the expectations about the profile of future earnings and the institutional features of the social security system. The various incentive measures that we consider differ in the precise weight given to the social security wealth that workers accrue as they continue to work. Our model does not provide a structural representation of the retirement process. A worker's decision is modeled here following a ‘quasi reduced‐form’ approach, with the incentive measures entering as predictors of the worker's choice in addition to standard variables. The estimated models are then used to predict retirement probabilities under alternative policies that change social security wealth and derived incentive measures.     

Discrepancies between chronological age and personal age as a reflection of unrelieved worker stress

Abstract

The general proposition that stress-related variables will be associated with discrepancies between chronological age and perceived personal age of working adults was examined. Responses from a field survey of day, afternoon, and night fixed-shift workers in a large manufacturing organization (n = 1674) were used to explore the relationships between a variety of reported stress-related variables and personal age constructs. Discrepancies between perceived personal age and chronological age were reported by a large proportion of the workers surveyed. Three categories of stress-related variables each accounted for a significant proportion of the variance in discrepancies. As hypothesized, the reported presence of stressors and the frequency/extent of strains (stress-related outcomes) were positively correlated with feeling older than one's chronological age. In addition, the reported presence of support mechanisms for coping with stressors was negatively correlated with feeling older than one's chronological age. The manner in which work and non-work stress may impinge upon personal age perceptions is discussed, and appropriate avenues for future research in this domain are considered.     

Will the Dismantlement of Early Retirement Schemes Increase Older Unemployment? A Competing‐risk Analysis for Belgium

On the basis of administrative data for Belgium, we estimate a competing‐risk model on transitions from employees aged 50 and older into unemployment, early and old‐age retirement while accounting for forward‐looking work disincentives. Our estimates are used to simulate a cut in early retirement benefits. Although this would enhance the financial sustainability of the social security system, our simulations predict a strong increase in unemployment among older blue‐collar workers in traditional industries. Members of private saving plans or occupational pension schemes and highly educated workers are predicted to move into the old‐age pension system.     

The Effects of Health Insurance and Self‐Insurance on Retirement Behavior

This paper provides an empirical analysis of the effects of employer‐provided health insurance, Medicare, and Social Security on retirement behavior. Using data from the Health and Retirement Study, we estimate a dynamic programming model of retirement that accounts for both saving and uncertain medical expenses. Our results suggest that Medicare is important for understanding retirement behavior, and that uncertainty and saving are both important for understanding the labor supply responses to Medicare. Half the value placed by a typical worker on his employer‐provided health insurance is the value of reduced medical expense risk. Raising the Medicare eligibility age from 65 to 67 leads individuals to work an additional 0.074 years over ages 60–69. In comparison, eliminating 2 years worth of Social Security benefits increases years of work by 0.076 years.     

Personality and Employment Transitions at Older Ages: Direct and Indirect Effects through Non‐Monetary Job Characteristics

We study whether individuals with different personality traits systematically exhibit different retirement trajectories. We find weak direct associations between personality and employment transitions. On the other hand, personality does contribute indirectly to these transitions by moderating the effects of non‐monetary job characteristics. Specifically, workers with different traits are observed to follow different retirement paths when faced with similar physical demands, computer skills requirements, job flexibility, and age discrimination in the workplace. Contrary with other economic domains, conscientiousness does not have the strongest association with retirement; the other components of the Big Five personality traits show more salient patterns.