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Early retirement intentions: the impact of employment biographies, work stress and health among a baby-boomer generation

Author

Listed:
  • Lisa Toczek

    (Ulm University)

  • Hans Bosma

    (Maastricht University)

  • Richard Peter

    (Ulm University)

Abstract

In recent years, early retirement decisions have become more frequent in the European Union despite political efforts to prevent early retirement. This is a growing problem for the social security system. The study focuses on a life course approach using employment biographies and investigates the influence of work stress and health on early retirement intentions. Data of employees who were born in either 1959 or 1965 of the German cohort study on work, age, health and work participation are analysed (n = 3338). By linking survey and register data from 1993 to 2011, a sequence analysis is conducted to identify employment biographies. To analyse the relationship between the employment biographies and intended early retirement, a longitudinal path analysis is computed and includes work stress, measured through effort-reward imbalance, and self-rated health. The statistical analyses identify three adverse employment biographies, i.e. part-time work, episodes of unemployment or marginal employment. In addition, two favourable employment biographies are determined, characterised by full-time work and few episodes of unemployment. The results of the path analysis show that employment biographies with high work-related stress have early retirement intentions. Among adverse employment biographies, indirect effects of poor health on the association between work stress and early retirement intentions are found. Unexpectedly, among full-time workers, work stress is also associated with early retirement intentions with an additional mediation through health. The findings of this study highlight the importance of the life course perspective when analysing retirement decisions. In addition to health-promoting interventions in the labour market, effects of psychosocial factors should be focussed on in order to reduce early exits from the labour market.

Suggested Citation

  • Lisa Toczek & Hans Bosma & Richard Peter, 2022. "Early retirement intentions: the impact of employment biographies, work stress and health among a baby-boomer generation," European Journal of Ageing, Springer, vol. 19(4), pages 1479-1491, December.
    • Handle: RePEc:spr:eujoag:v:19:y:2022:i:4:d:10.1007_s10433-022-00731-0
    DOI: 10.1007/s10433-022-00731-0
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    Cited by:

    1. Wiebke Schmitz & L. Naegele & F. Frerichs & L. Ellwardt, 2023. "Gendered late working life trajectories, family history and welfare regimes: evidence from SHARELIFE," European Journal of Ageing, Springer, vol. 20(1), pages 1-15, December.
    2. Yeung, Dannii Y. & Ho, Alvin K.K. & Lam, Alfred H.K. & Lam, Alvin C.H., 2023. "An integrated model on purchase intentions of typical and tax-deductible saving products: The roles of retirement goal clarity and age," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 104(C).
    3. Lisa Toczek & Richard Peter, 2023. "Investigating the influence of work-related stress on early labour market exit: the role of health," European Journal of Ageing, Springer, vol. 20(1), pages 1-9, December.

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