Retirement patterns in Hong Kong: a censored regression analysis

This paper provides an overview of retirement patterns in Hong Kong on the basis of limited data. A censored regression model is used to infer the retirement age from people‘s current retirement status and their current age. This model is equivalent to a restricted probit model, and the interpretation of parameters is straightforward. The results clearly show a negative income effect on the retirement decision. The retirement age seems to be positively related to lifetime earnings but negatively related to the rate of decline of earnings with age. JEL classification: C24, J14, J26 Received May 6, 1996 / Accepted February 5, 1997     

Lassoing the Determinants of Retirement

This article uses Danish register data to explain the retirement decision of workers in 1990 and 1998. Many variables might be conjectured to influence this decision such as demographic, socioeconomic, financial, and health related variables as well as all the same factors for the spouse in case the individual is married. In total, we have access to 399 individual specific variables that all could potentially impact the retirement decision. We use variants of the least absolute shrinkage and selection operator (Lasso) and the adaptive Lasso applied to logistic regression in order to uncover determinants of the retirement decision. To the best of our knowledge, this is the first application of these estimators in microeconometrics to a problem of this type and scale. Furthermore, we investigate whether the factors influencing the retirement decision are stable over time, gender, and marital status. It is found that this is the case for core variables such as age, income, wealth, and general health. We also point out the most important differences between these groups and explain why these might be present.     

深度老龄化对我国劳动就业的潜在影响

对我国就业人口现状,2000-2010年城市、城镇、乡村人口就业速度,我国三大产业就业人口变化及人口年龄组劳动参与率变化的研究表明:若退休年龄不变,2030年我国潜在劳动力将比2010年减少14%;若男女退休年龄分别推迟5年,则2030年潜在劳动力仍将与2010年相当。然而,青年劳动力的比例下降快,农村尤其明显;2020年以后我国劳动力递减速度快,2040年我国60岁以上、65岁以上和80岁以上老年人口比例将超过28%、22%和4%。近20年我国经济发展很快,但面临老龄化的严重挑战,老龄化通过劳动力老化、社会保障、生产成本、商品出口、社会消费、货币汇率等途径,对经济持久地产生影响。     

Measures of individual risk attitudes and portfolio choice: Evidence from pension participants

We use a large non-student sample to test how distinct measures of risk-attitudes relate to each other, to demographic characteristics and to real-life risk taking in the financial domain. These measures, namely the Bomb Risk Elicitation Task (BRET), self-reported willingness to take risks in general, the choice in a hypothetical lottery, the score in the Domain Specific Risk-Taking (DOSPERT) scale, appear to be positively correlated and exhibit a certain degree of consistency. Furthermore, a subset of these measures is driven by similar demographic characteristics as such that males are more risk seeking and risk-aversion increases with age. Using extensive data on the retirement portfolios of the participants during the years 2008–2014, we find that all of these measures are positively correlated with the riskiness of individual portfolios. The self-reported willingness to take risks in general appears to be the most relevant measure in predicting actual risk-taking behavior.     

Friendships Between Older Women: Interactions and Reactions

SUMMARY

The purpose of this study was to examine specific interactions between older women and multiple members of their close friend network. Ninety-four women, 65 years of age and older, described their interactions with 182 close friends. The women reported substantial social and emotional involvement with their close friends. Almost all of the women reported getting together with their close friends “just to talk.” For women with multiple close friends, the topics of these conversations differed depending on which friends the women described. Perceptions of equity and inequity in their relationships influenced the way in which the women described their friends and the feelings they expressed about their friendships.     

The Use of Humor With Older Adults Aging in Place

As more older adults seek ways to remain in their homes during their “golden years,” humor has proven to be a worthwhile intervention that reduces stress and provides a hopeful, playful, and optimistic environment. Development of creative and supportive housing situations for older adults combined with the use of modern technology (e.g., the Internet and computer devices used in the home), aid in bringing humor to the older adult. This article addresses some of the challenges that older adults face and the way that the use of humor can assist them to meet these challenges.     

Privileged policies versus lack of care and engagement: the lives of retired veteran cadres in a residential community of Jinan Municipal Party Committee,China

Abstract

The Retirement System for Veteran Cadres (Lixiu) is one part of China’s dual-track retirement system. According to some official policies, retired veteran cadres should enjoy a number of privileges in terms of pension, health care, use of government vehicle, housing and peculiar political rights. Based on participant observation and semi-structured interview, the study looks into the life of the population in a residential community of Jinan Municipal Party Committee, Shandong Province. By incorporating Maslow’s hierarchy of needs theory, the study finds that in China, services for retired cadres still fall short of the expectations of policy. Establishment of ‘big communities’ with the idea of ageing-in-place is suggested.     

Constructing family relationships: Intimacy, harmony and social value in accounts of sheltered retirement community residents

This research was undertaken at a West Coast USA sheltered retirement community where fifteen able elder residents were interviewed about their personal relationships and communication with peers, family and younger people. This paper focuses on respondent's discursive constructions of their relationships with family—particularly adult grandchildren. The analysis shows how respondents' talk about family relationships is largely positive and discusses how respondents build an image of intergenerational solidarity through their accounts of frequency and quality of contact with grandchildren. Some of the ways that intergenerational solidarity is communicated in the context of the interview are: discounting of family problems; cataloguing achievements and talking about grandchildren with pride; demonstrating that they–the elder–are valued; and accounts of how problematic aspects of their relationships are avoided in intergenerational talk.     

Coping with Vulnerabilities in Old Age and Retirement: Cross-border Mobility,Family Relations and Social Networks of German Retirees in Alanya

ABSTRACT

Reduced income upon retirement is a vulnerability threat, which increases dependency on public provisions, familial, and/or social (community) support. Many German retirees, in addition to lifestyle motivations, move to low-cost destinations in order to maintain an autonomous and independent life while minimizing the risks of financial worsening. In this article, I discuss the vulnerability patterns of German retirees in the Mediterranean coastal town of Alanya, Turkey, and the role of social networks, with a particular focus on intergenerational family relations. I argue that, despite increased life satisfaction, relocation to a new destination abroad results in new emerging threats. German retirees in Alanya experience difficulties in terms of a lack of intergenerational family support and the double jeopardy of being framed by the legal regulations of two nation states. Based on the findings of the empirical research conducted in Alanya in 2017, I will demonstrate new threats emerged after relocation and how retirees respond to those with new coping strategies.     

收入、预期寿命和社会养老保险收入再分配效应

本文在考虑职工基本养老保险典型不同缴费基数参保者寿命存在异质性的情况下，通过内部收益率的计算考察典型不同缴费基数参保者之间的养老金收入再分配效应。首先根据省级宏观截面数据估计了职工基本养老保险典型不同缴费基数参保者退休时的平均余命，再据此分别计算和比较不同参保群体的内部收益率。 研究发现职工基本养老保险制度总体上呈现微弱的正向收入再分配效应。虽然低缴费基数参保者内部收益率略高于中、高缴费基数参保职工，但其内部收益率因相对较短的寿命而大大降低。这也提醒政策制定者在研究制定延迟退休、社会养老保险全国统筹等政策时需要充分考虑参保职工内部不同群体间的平均预期寿命差别，对低收入参保者予以特别关注。