Impact of work injury on early retirement among older Australian workers

2020 ◽  
Vol 26 (1) ◽  
pp. 18-21
Author(s):  
Irene Mok
Keyword(s):  
Older Workers ◽  
Early Retirement ◽  
Economic Consequences ◽  
Retirement Age ◽  
Work Injury ◽  
Work Centrality ◽  
Rehabilitation Professionals ◽  
Survey Results ◽  
Expected Retirement Age ◽  
Need For Rehabilitation

AbstractA total of 274 Australian workers aged 45 years and above completed a Work, Retirement, and Health Survey. Results indicated that older workers with work injury have significantly lower expected retirement age compared to those without work injury. The results also indicated that this pattern is still apparent among intrinsically work motivated older workers with high score on self-reported work centrality. Older workers with work injury appear more vulnerable to premature retirement, which has significant negative social and economic consequences for workers, employers, and rehabilitation professionals. It also appears there is a complex relationship between ageing and work injury and the need for rehabilitation professionals to consider work injury prevention strategies for older workers.

scholarly journals Employees’ Longer Working Lives in Europe: Drivers and Barriers in Companies

2020 ◽  
Vol 17 (5) ◽  
pp. 1658
Author(s):  
Andrea Principi ◽  
Jürgen Bauknecht ◽  
Mirko Di Rosa ◽  
Marco Socci
Keyword(s):  
Working Conditions ◽  
Older Workers ◽  
Early Retirement ◽  
Working Life ◽  
Retirement Age ◽  
European Level ◽  
The Public ◽  
Working Lives ◽  
Market Factors ◽  
Legal Retirement Age

This paper identifies, within companies’ sectors of activity, predictors of Human Resource (HR) policies to extend working life (EWL) in light of increasing policy efforts at the European level to extend working life. Three types of EWL practices are investigated: the prevention of early retirement (i.e., encouraging employees to continue working until the legal retirement age); delay of retirement (i.e., encouraging employees to continue working beyond the legal retirement age); and, recruitment of employees who are already retired (i.e., unretirement). A sample of 4624 European organizations that was stratified by size and sector is analyzed in six countries. The main drivers for companies’ EWL practices are the implementation of measures for older workers to improve their performance, their working conditions, and to reduce costs. In industry, the qualities and skills of older workers could be more valued than in other sectors, while the adoption of EWL practices might be less affected by external economic and labor market factors in the public sector. Dutch and Italian employers may be less prone than others to extend working lives. These results underline the importance of raising employers’ awareness and increase their actions to extend employees’ working lives by adopting age management initiatives, especially in SMEs, and in the services and public sectors.

scholarly journals Analysis Of Faculty Retirement Intention: Using A Proportional Odds Model

2011 ◽  
Vol 17 (3) ◽  
Author(s):  
Bahman Bahrami ◽  
Jerome W. Stockrahm
Keyword(s):  
Decision Making ◽  
Early Retirement ◽  
National Sample ◽  
Mandatory Retirement ◽  
Retirement Age ◽  
Factors Affecting ◽  
Retirement Incentives ◽  
Retirement Decisions ◽  
Faculty Retirement ◽  
Expected Retirement Age

This paper uses data from a random national sample of faculty, age 50 and older, and explores factors affecting faculty member's retirement decisions for three expected retirement age categories.  The variables such as end of mandatory retirement, age, current salary, expected others sources of income, early retirement incentives, and years of education have a significant effect on faculty retirement decisions.  An understanding of these factors can help decision making for staffing purposes.

Restructurations de la protection sociale et mutations du cycle de vie en Europe

1997 ◽  
Vol 16 (3) ◽  
pp. 411-440
Author(s):  
Anne-Marie Guillemard
Keyword(s):  
Life Course ◽  
Older Workers ◽  
Early Retirement ◽  
Social Assistance ◽  
Retirement Age ◽  
Old Age Security ◽  
Employment Insurance ◽  
The Social ◽  
Social Transfers ◽  
The Life Course

ABSTRACTThe move towards early retirement as witnessed over the last few years in Europe comes from social assistance mechanisms, other than old age security and is not due to a simple earlier retirement age.Two systems have been used primarily to help older workers. These are disability and employment insurance. “Early retirement” mechanisms have also helped these active or unemployed workers retire, by means of allocating resources.The social security structure in European countries has remained essentially unchanged with the risks and logistics of management inextricably intertwined. Moreover, these new forms of transition between activity and retirement reveal the reorganization underway in all matters related to the aging workers. One of the implications of the massive movement towards early retirement has been that the tripartite life course in which important social stages within the life course are marked by milestones (e.g., school age, retirement age …) is disappearing. It is gradually being replaced with new flexibility for managing the end of the life course. This type of evolution requires us to rethink the social assistance system in the sense of reducing the distinct ternary division in the life course. From this perspective, the very concepts of retirement and social transfers for definitive inactivity are no longer relevant.

scholarly journals Effects of Early Retirement Policy Changes on Working until Retirement: Natural Experiment

2019 ◽  
Vol 16 (20) ◽  
pp. 3895 ◽  
Author(s):  
Boot ◽  
Scharn ◽  
van der Beek ◽  
Andersen ◽  
Elbers ◽  
...  
Keyword(s):  
Labor Market ◽  
Labor Supply ◽  
Older Workers ◽  
Early Retirement ◽  
Natural Experiment ◽  
Retirement Age ◽  
Retirement Benefits ◽  
Pension Reforms ◽  
Retirement Policy ◽  
To Receive

Many European countries have implemented pension reforms to increase the statutory retirement age with the aim of increasing labor supply. However, not all older workers may be able or want to work to a very high age. Using a nation-wide register data of labor market transitions, we investigated in this natural experiment the effect of an unexpected change in the Dutch pension system on labor market behaviors of older workers. Specifically, we analyzed transitions in labor market positions over a 5-year period in two nation-wide Dutch cohorts of employees aged 60 years until they reached the retirement age (n = 23,703). We compared transitions between the group that was still entitled to receive early retirement benefits to a group that was no longer entitled to receive early retirement benefits. Results showed that the pension reform was effective in prolonging work participation until the statutory retirement age (82% vs. 61% at age 64), but also to a larger proportion of unemployment benefits in the 1950 cohort (2.0%–4.2%) compared to the 1949 cohort (1.4%–3.2%). Thus, while ambitious pension reforms can benefit labor supply, the adverse effects should be considered, especially because other studies have shown a link between unemployment and poor health.

scholarly journals The Impact of Occupational Pensions on Retirement Age

2007 ◽  
Vol 36 (2) ◽  
pp. 297-318 ◽  
Author(s):  
SEPIDEH ARKANI ◽  
ORLA GOUGH
Keyword(s):  
Early Retirement ◽  
Labour Force ◽  
Retirement Age ◽  
Occupational Pension ◽  
Labour Force Survey ◽  
Occupational Pensions ◽  
The Uk ◽  
Expected Retirement Age ◽  
The Impact ◽  
The Waves

This article contributes to the debate about retirement age and the extent to which occupational pensions influence the decision to retire. It uses the waves of Labour Force Survey (1984–91) and Quarterly Labour Force Survey (1992–2003) to review the changes in the actual average retirement age in the UK during the period 1984–2003 by gender and ethnicity. The article investigates the link between occupational pension schemes and the actual retirement age of men and women. It explores the impact of pension type on employees' expected retirement age and the decision to take early retirement using the English Longitudinal Survey of Ageing (2002–03).

Extending Employment beyond Retirement Age: The Case of Health Care Managers in Quebec

2005 ◽  
Vol 34 (2) ◽  
pp. 195-214 ◽  
Author(s):  
Tania Saba ◽  
Gilles Guerin
Keyword(s):  
Health Care ◽  
Older Workers ◽  
Early Retirement ◽  
Retirement Age ◽  
Public Agencies ◽  
Health Care Managers ◽  
Bridge Employment ◽  
Unmet Expectations ◽  
Working Lives ◽  
New Phase

Baby boomers in public agencies are getting ready to retire and there are concerns about retaining the existing workforce apart from recruiting younger managers. Recent studies of workplace patterns of older workers have shown that the workforce of older workers should no longer be seen as a unidirectional journey to retirement. Older workers may value bridge employment or even prefer to extend their working lives. The motives for deciding to leave the workplace permanently can be related to unmet expectations, the desire for change, and the need to enjoy a new phase of life. Based on a survey conducted on 402 older managers working in health care institutions in Quebec, this study sheds light on the new alternatives to traditional early retirement that organizations will have to take into account while considering the preferences and intentions of employees who are approaching retirement.

Factors Associated with Employment Status in Later Working Life

1994 ◽  
Vol 8 (4) ◽  
pp. 553-567 ◽  
Author(s):  
Paul R. Jackson ◽  
Philip E. Taylor
Keyword(s):  
Labour Market ◽  
Personal Identity ◽  
Older Workers ◽  
Employment Status ◽  
Early Retirement ◽  
Working Life ◽  
Retirement Age ◽  
Adult Males ◽  
Factors Affecting ◽  
Factors Associated

This article reports on factors affecting the withdrawal of older workers from the labour market associated with unemployment, premature retirement and retirement at 65 years of age. Longitudinal data from three interviews with 175 adult males are examined; and findings show a process of psychological withdrawal from the labour market reflecting changes in personal identity which occur prior to reaching the formal retirement age, most strongly for those without heavy financial commitments. For most of those interviewed, retirement was a preferred option to unemployment, and allowed them to regain control over their lives. Older workers whose financial needs keep them in the employment market are doubly disadvantaged since they cannot select the route of early retirement and find it much harder to compete with younger people.

scholarly journals Actuarial deductions for early retirement

2021 ◽  
pp. 1-27
Author(s):  
Markus Knell
Keyword(s):  
Early Retirement ◽  
Pension System ◽  
Budget Constraint ◽  
Retirement Age ◽  
Single Individual ◽  
Internal Rate Of Return ◽  
Market Interest Rate ◽  
Long Run ◽  
Retirement Behavior ◽  
The Right

Abstract This paper studies how the rates of deduction for early retirement have to be determined in pay-as-you-go (PAYG) systems in order to keep their budget stable. The derivation of these deductions requires the use of a multiperiod intertemporal budget constraint that involves assumptions about the retirement behavior of past, present, and future cohorts. In general, it is not possible to calculate budget-neutral deductions from the budget constraint of a single individual who retires before the target retirement age—an approach that dominates the related literature. Only for specific cases one can use this second approach but then one has to adjust the discount rate to the assumption about collective retirement. If there is only one deviating individual, then the right choice is the market interest rate while for a stationary retirement distribution it is the internal rate of return of the PAYG system. In this case, the necessary deductions are lower than under the standard approach. This is also true for retirement ages that fluctuate randomly around a stationary distribution. Various long-run developments (e.g., increases in life expectancy or permanent changes in the average retirement age) might cause challenges for the sustainability of the pension system. These developments, however, can only be dealt with by adequate adjustments to the basic pension formulas and not by the use of deduction rates.

How do employers think about older workers?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hila Axelrad ◽  
Alexandra Kalev ◽  
Noah Lewin-Epstein
Keyword(s):  
Older People ◽  
Thematic Analysis ◽  
Older Workers ◽  
Design Methodology ◽  
Age Discrimination ◽  
Retirement Age ◽  
Structured Interviews ◽  
Content Type ◽  
Pension Income ◽  
Significant Barrier

PurposeHigher pensionable age in many countries that are part of Organization for Economic Co-operation and Development (OECD) and a shrinking pension income force older people to postpone their retirement. Yet, age-based discrimination in employers' decisions is a significant barrier to their employment. Hence, this paper aims to explore employers' attitudes regarding the employment of workers aged 60–70, striving for a better understanding of age discrimination.Design/methodology/approachThe authors used a thematic analysis of semi-structured interviews with 30 managers, experts and employees in retirement age in Israel.FindingsFindings reveal a spectrum of employers' attitudes toward the employment of older workers. The authors' analytical contribution is a conceptual typology based on employers' perceived ability to employ older workers and their stated attitudes toward the employment of older workers.Social implicationsThe insights that emerge from this research are fundamental for organizational actors' ability to expand the productive, unbiased employment of older workers.Originality/valueBy understanding employers' preferences and perspectives and the implications on employers' ability and/or willingness to employ older workers, this research will help policymakers formulate and implement policy innovations that address these biases.

Sign in / Sign up

Export Citation Format

Share Document