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Beyond retirement: who stays at work after the standard age of retirement?

Beyond retirement: who stays at work after the standard age of retirement? Drawing on a unique combination of longitudinal administrative data and a postal survey, the purpose of this paper is to identify the socio-economic factors and individual characteristics that affect senior citizens’ decision to continue working on the Swedish labour market after the standard retirement age.Design/methodology/approachBy using standard econometric techniques (multinomial logit model) on a large representative sample of 20,000 senior citizens residing in Sweden, the auhtors analyse the extent to which socio-economic factors and individual characteristics including personality traits affect the decision of senior citizens to delay retirement and to continue working after the standard retirement age.FindingsThe results of our estimations show clearly that good health, high educational attainment/high-skilled jobs, good psychosocial work environment, employment status (to be self-employed), personality traits (extraversion, openness to experience and conscientiousness) as well as industrial sectors (agriculture, healthcare and transport) are strong predictors of the continuation of work after the standard retirement age (65 years old).Research limitations/implicationsHigh job quality and good working conditions, along with continuous improvements in public health, are seemingly essential elements for motivating senior workers to delay retirement as are preventive policy measures favouring the development of decent and sustainable working conditions across the life course.Originality/valueTo the best of the authors’ knowledge, the paper is the first attempt in Sweden to analyse jointly a large range of factors influencing the decision to remain in the labour force after the standard/normal pension age, including psychosocial working conditions and personality traits. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Manpower Emerald Publishing

Beyond retirement: who stays at work after the standard age of retirement?

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References (34)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0143-7720
DOI
10.1108/ijm-09-2017-0243
Publisher site
See Article on Publisher Site

Abstract

Drawing on a unique combination of longitudinal administrative data and a postal survey, the purpose of this paper is to identify the socio-economic factors and individual characteristics that affect senior citizens’ decision to continue working on the Swedish labour market after the standard retirement age.Design/methodology/approachBy using standard econometric techniques (multinomial logit model) on a large representative sample of 20,000 senior citizens residing in Sweden, the auhtors analyse the extent to which socio-economic factors and individual characteristics including personality traits affect the decision of senior citizens to delay retirement and to continue working after the standard retirement age.FindingsThe results of our estimations show clearly that good health, high educational attainment/high-skilled jobs, good psychosocial work environment, employment status (to be self-employed), personality traits (extraversion, openness to experience and conscientiousness) as well as industrial sectors (agriculture, healthcare and transport) are strong predictors of the continuation of work after the standard retirement age (65 years old).Research limitations/implicationsHigh job quality and good working conditions, along with continuous improvements in public health, are seemingly essential elements for motivating senior workers to delay retirement as are preventive policy measures favouring the development of decent and sustainable working conditions across the life course.Originality/valueTo the best of the authors’ knowledge, the paper is the first attempt in Sweden to analyse jointly a large range of factors influencing the decision to remain in the labour force after the standard/normal pension age, including psychosocial working conditions and personality traits.

Journal

International Journal of ManpowerEmerald Publishing

Published: Jul 18, 2019

Keywords: Sweden; Determinants; Retirement; Labour market; Personality traits; Senior workers

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