Suchergebnisse

Recently, an increasing number of retired individuals decide to return to work and seek for post-retirement employment. Although research has already focused on individual and organizational based factors in retirement and post-retirement, the works are limited in some observable settings and well-known professions. The purpose of this study is to delve into the reasons for retirement and post-retirement employment and describe how human capital and social capital takes role in post-retirement employment. A qualitative approach was used with a descriptive phenomenological research design. Ten volunteer military retirees constitute the participants; in-depth semi-structured interviews were conducted for data collection. Findings indicate that social and human capital heavily affect the retirement process, and trigger the return to work. The higher the hierarchy of the military staff, the more the social factors are motivating them to post-retirement employment, contrarily. For lower hierarchy, financial issues are more dominant for returning to work. Additionally, the effect of social capital on the post-retirement employment varies according to individual differences such as dependents, beliefs, and passions. The study contributes to theoretical discussions related to retirement and post-retirement employment reasons that can be linked to existing explanations.

This quantitative study finds out what are the factors that influence a worker's decision to retire early, especially in crisis conditions. Using Susenas data for the September 2008 period, this study regresses the variables related to family and occupational characteristics in the logistic model. The odds ratio calculation results show that men who are married, live in urban areas, or work in the forestry sector tend to retire early. Besides, the age factor does not play a significant role in retirement decisions. By taking into account the conditions of distribution of social protection assistance which are generally "flat", this research is expected to provide a new intuition for the Government to design a better system

This paper examines the implications for national savings of three retirement income policy options, designed to improve the fiscal sustainability of New Zealand Superannuation (NZS). A simple model is developed that employs population and longevity projections allowing estimation of the contributions that many overlapping age cohorts might make to national savings in response to policy change. Government contributions to national savings, resulting primarily from reduced NZS payments, are also considered. Results suggest that even seemingly modest changes to retirement income policies could lead to substantial cumulative changes in national savings by 2061.

A problem that faces many countries including the United States is how to finance retirement consumption as the population ages. Proposals for switching to a saving-for-retirement system that does not rely on high payroll taxes have been challenged on the grounds that welfare would fall for some groups such as retirees or the working poor. We show how to devise a transition path from the current U.S. system to a saving-for-retirement system that increases the welfare of all current and future generations, with estimates of future gains higher than those found in typically used macroeconomic models. The gains are large because there is more productive capital than commonly assumed. Our quantitative results depend importantly on accounting for differences between actual government tax revenues and what revenues would be if all income were taxed at the income-weighted average marginal tax rates used in our analysis.

The European Employment Strategy has set the goal of raising the retirement age of workers in the EU through a strategy of active ageing. Yet despite some progress over the last decade, empirical data show persistent diversity across EU member states. Institutional arrangements of social and labor market policies can be seen as the core factors behind cross-national diversity. Hence, institutional change is crucial to explain structural changes. The paper tries to assess the role of supranational policy initiatives and national politico-economic factors in shaping the transition from work to retirement in EU member states which is still governed by the national political economy. Taking the German case as an example in point, the paper shows the dynamic interaction between policy changes, in particular in benefit systems and activation, and changes in the approach of firms and workers to early retirement. Policy changes influence actors' behavior in the medium run and open up opportunities for subsequent reforms.

This paper deals with two policy approaches to address the problem of the ?pensions time bomb? by influencing private-sector pension provision. In assessing the role of private-sector pensions, it is common to concentrate exclusively on the issue of whether early retirement penalties or late retirement benefits are actuarially fair. We argue that this focus is unbalanced since private-sector pension arrangements have significant implications for governments' finances. When private pensions encourage early retirement, they reduce the number of people paying taxes and increase the number of people supplementing their private pensions through various forms of public support. To induce private-sector pension providers to internalize this externality, we examine two policy responses: taxing private pension receipts of early retirees, and issuing ?early retirement rights.? The government?s receipts from the pension taxes or the sale of early retirement rights are used, in part, to provide employment vouchers for people of pensionable age.

We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through changes of taxes, government spending components and the retirement age in politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment. The closed-form solutions of the model predict taxation and the retirement age in OECD economies to increase in response to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in politico-economic equilibrium would essentially remain unchanged, due to a surge of social security transfers and crowding out of public investment.

We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through changes of taxes, government spending components and the retirement age in politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment. The closed-form solutions of the model predict taxation and the retirement age in OECD economies to increase in response to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in politico-economic equilibrium would essentially remain unchanged, due to a surge of social security transfers and crowding out of public investment.

This paper explores how EU countries can address various challenges (including the aging of the population) affecting their systems of old-age income support. It presents two scenarios illustrating the most important uncertainties surrounding the major developments that affect the pension systems of the EU. To diversify these risks, EU governments should act on several fronts. In addition to the formation of human capital (especially that of children), employment (especially that of older workers) should be boosted. This calls for social insurance reform with more emphasis on individual saving schemes. Pension schemes should be more explicit about how they share demographic and other risks. Countries that currently rely heavily on public pay-as-you-go (PAYG) schemes should stimulate private pensions by gradually reducing PAYG benefits collected by high-income earners, by issuing new financial instruments, and by conducting intergenerational risk sharing through the tax system.

This paper explores how EU countries can address various challenges (including the aging of the population) affecting their systems of old-age income support. It presents two scenarios illustrating the most important uncertainties surrounding the major developments that affect the pension systems of the EU. To diversify these risks, EU governments should act on several fronts. In addition to the formation of human capital (especially that of children), employment (especially that of older workers) should be boosted. This calls for social insurance reform with more emphasis on individual saving schemes. Pension schemes should be more explicit about how they share demographic and other risks. Countries that currently rely heavily on public pay-as-you-go (PAYG) schemes should stimulate private pensions by gradually reducing PAYG benefits collected by high-income earners, by issuing new financial instruments, and by conducting intergenerational risk sharing through the tax system.

Title varies slightly ; Report year ends June 30 ; Mode of access: Internet. ; Reports for 1956/57-1967 administered by: State Employees' Retirement System; 1968- by: Public Employees' Retirement System

In January 2006, the Dutch government implemented a pension reform that substantially reduced the public pension wealth of workers born in 1950 or later. At the same time, a tax-facilitated savings plan was introduced that substantially reduced the saving costs of all workers, irrespective of birth year. This paper uses linked administrative and survey data to assess the effect of the reform on the savings and retirement expectations and realizations of two virtually identical male cohorts that differ only in treatment status, the treated having been born in 1950 and the controls having been born in 1949. We show that retirement expectations are in line with realizations and that the reform had the intended effect on the labor supply for the larger part of the workers, namely, those without sufficient means to substantially increase private savings to counter the effect of the reform. These workers, who are generally in worse health, have zero substitution rates between private and public wealth. On the other hand, there is a group of mostly high-wage workers who participate in the tax-facilitated Life Course Savings Scheme and who increase private savings to fully counter the impact of the drop in public wealth. A further, unintended side effect of the introduction of the tax-facilitated savings plan is that high wage earners who are not affected by the drop in pension wealth retire even sooner than initially planned.

Item 1005-C ; "April 1984"--Cover. ; Includes bibliographical references. ; Mode of access: Internet.

While much has been made of the value of employment relative to unemployment, much less is known about the value of work relative to retirement. We here use two European panel datasets to first show that psychological well-being (measured on the EURO-D and GHQ scales) barely changes on average when individuals retire. However, there is a great deal of heterogeneity in the size of the change between job type and between individuals. Some gain on leaving work, while others experience substantial falls in well-being on retiring, suggesting that they may have preferred to carry on working. We suggest that the results of these analyses can help to inform policy aiming to encourage labour supply by older workers. ; Si la valeur du travail relativement au chômage a été au centre de nombre de travaux, il n'en va pas de même pour la valeur du travail par rapport à la retraite. Nous exploitons deux bases de données de panel européennes afin de montrer dans un premier temps que le bien-être psychologique (mesuré par les indices EURO-D et GHQ) des individus ne varie quasiment pas lorsque ceux-ci prennent leur retraite. Cette variation est toutefois très hétérogène selon le type d'emploi occupé avant la retraite d'un individu à un autre. Certains gagnent à s'arrêter de travailler tandis que d'autres voient leur bien-être se dégrader considérablement à la retraite et préféreraient donc probablement continuer à travailler. Nous pensons que les résultats de ces analyses peuvent être utiles aux politiques visant à encourager la participation des seniors au marché du travail.

While much has been made of the value of employment relative to unemployment, much less is known about the value of work relative to retirement. We here use two European panel datasets to first show that psychological well-being (measured on the EURO-D and GHQ scales) barely changes on average when individuals retire. However, there is a great deal of heterogeneity in the size of the change between job type and between individuals. Some gain on leaving work, while others experience substantial falls in well-being on retiring, suggesting that they may have preferred to carry on working. We suggest that the results of these analyses can help to inform policy aiming to encourage labour supply by older workers. ; Si la valeur du travail relativement au chômage a été au centre de nombre de travaux, il n'en va pas de même pour la valeur du travail par rapport à la retraite. Nous exploitons deux bases de données de panel européennes afin de montrer dans un premier temps que le bien-être psychologique (mesuré par les indices EURO-D et GHQ) des individus ne varie quasiment pas lorsque ceux-ci prennent leur retraite. Cette variation est toutefois très hétérogène selon le type d'emploi occupé avant la retraite d'un individu à un autre. Certains gagnent à s'arrêter de travailler tandis que d'autres voient leur bien-être se dégrader considérablement à la retraite et préféreraient donc probablement continuer à travailler. Nous pensons que les résultats de ces analyses peuvent être utiles aux politiques visant à encourager la participation des seniors au marché du travail.