IDEAS home Printed from https://ideas.repec.org/a/gam/jsoctx/v14y2024i5p63-d1389139.html

To Retire or Not to Retire? A Comprehensive Examination of Retirement Decision Dynamics in Italy

Author

Listed:
  • Michele Fabiani

    (Department of Political Science, Communication and International Relations, University of Macerata, 62100 Macerata, Italy)

Abstract

The concept of active aging has become central to the public debate in many Western countries, given the increasing aging of the population and the future challenges associated with it. This phenomenon is tightly intertwined with choices regarding the retirement period, which can be postponed for different reasons by individuals in a society. The purpose of this paper is to understand the personal and family characteristics that influence future choices about retirement date in Italy. Utilizing data provided by the Bank of Italy in the Survey on Household Income and Wealth (SHIW), a logistic regression is performed to observe the impact of different covariates on the hypothesized retirement date of individuals close to retirement, i.e., over the age of 50 who are still in working status. The results show that the decision to delay retirement has increased in recent years, and is influenced by personal (e.g., matrimonial status), work, and economic factors. In addition, these factors have different impacts between males and females.

Suggested Citation

  • Michele Fabiani, 2024. "To Retire or Not to Retire? A Comprehensive Examination of Retirement Decision Dynamics in Italy," Societies, MDPI, vol. 14(5), pages 1-13, May.
    • Handle: RePEc:gam:jsoctx:v:14:y:2024:i:5:p:63-:d:1389139
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2075-4698/14/5/63/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2075-4698/14/5/63/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ioannis A. Kaskarelis & Kyriaki Tsilika, 2009. "Early retirement for mothers in Greece," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 36(5), pages 566-579, April.
    2. Henry J. Aaron & Jean Marie Callan, 2011. "Who Retires Early?," Working Papers, Center for Retirement Research at Boston College wp2011-10, Center for Retirement Research, revised May 2011.
    3. Venti, Steven & Wise, David A., 2015. "The long reach of education: Early retirement," The Journal of the Economics of Ageing, Elsevier, vol. 6(C), pages 133-148.
    4. Raffaele Miniaci & Elena Stancanelli, 1998. "Microeconometric Analysis of the Retirement Decision: United Kingdom," OECD Economics Department Working Papers 206, OECD Publishing.
    5. C. Squarcio & D. Tuzi, 2002. "La decisione di pensionamento in Italia," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 4, pages 785-808.
    6. Courtney Coile & Jonathan Gruber, 2007. "Future Social Security Entitlements and the Retirement Decision," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 234-246, May.
    7. Ignacio Madero-Cabib & Laure Kaeser, 2016. "How voluntary is the active ageing life? A life-course study on the determinants of extending careers," European Journal of Ageing, Springer, vol. 13(1), pages 25-37, March.
    8. Raffaele Miniaci, 1998. "Microeconometric Analysis of the Retirement Decision: Italy," OECD Economics Department Working Papers 205, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shuolin Shi & Ralf A. Wilke, 2022. "Variable selection with group structure: exiting employment at retirement age—a competing risks quantile regression analysis," Empirical Economics, Springer, vol. 62(1), pages 119-155, January.
    2. Agar Brugiavini & Franco Peracchi, 2003. "Social Security Wealth and Retirement Decisions in Italy," LABOUR, CEIS, vol. 17(s1), pages 79-114, August.
    3. Ugo Colombino, 2003. "A Simple Intertemporal Model of Retirement Estimated On Italian Cross‐Section Data," LABOUR, CEIS, vol. 17(s1), pages 115-137, August.
    4. Pilar García-Gómez & Sergi Jiménez-Martín & Judit Vall Castelló, 2014. "Financial Incentives, Health, and Retirement in Spain," NBER Chapters, in: Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, pages 455-495, National Bureau of Economic Research, Inc.
    5. Blau, David M., 2011. "Pensions, Household Saving, and Welfare: A Dynamic Analysis," IZA Discussion Papers 5554, IZA Network @ LISER.
    6. Niels Vermeer & Maarten Rooij & Daniel Vuuren, 2019. "Retirement Age Preferences: The Role of Social Interactions and Anchoring at the Statutory Retirement Age," De Economist, Springer, vol. 167(4), pages 307-345, December.
    7. Laun, Tobias & Markussen, Simen & Vigtel, Trond Christian & Wallenius, Johanna, 2018. "Health, Longevity and Pension Reform," Working Paper Series 2018:9, Uppsala University, Department of Economics.
    8. Michele Belloni & Rob Alessie, 2008. "The Importance of Financial Incentives on Retirement Choices," Tinbergen Institute Discussion Papers 08-052/3, Tinbergen Institute.
    9. Bönke, Timm & Kemptner, Daniel & Lüthen, Holger, 2018. "Effectiveness of early retirement disincentives: Individual welfare, distributional and fiscal implications," Labour Economics, Elsevier, vol. 51(C), pages 25-37.
    10. Ben Backes & Ben Backes & Dan Goldhaberb & Cyrus Grout & Cory Koedel & Shawn Ni & Michael Podgursky & P. Brett Xiang & Zeyu Xu, 2015. "Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans," Working Papers 1517, Department of Economics, University of Missouri, revised Apr 2016.
    11. Nicholas Lawson, 2017. "Fiscal Externalities and Optimal Unemployment Insurance," American Economic Journal: Economic Policy, American Economic Association, vol. 9(4), pages 281-312, November.
    12. Moulton, Jeremy Grant & Stevens, Ann Huff, 2015. "Reconsidering the Social Security Notch and retirement: Wealth and incentive effects," Economics Letters, Elsevier, vol. 132(C), pages 65-68.
    13. Aronsson, Thomas & Blomquist, Sören, 2010. "The Standard Deviation of Life-Length, Retirement Incentives, and Optimal Pension Design," Working Paper Series, Center for Fiscal Studies 2010:11, Uppsala University, Department of Economics.
    14. Xiaoyan Li & Nicole Maestas, 2008. "Does the Rise in the Full Retirement Age Encourage Disability Benefits Applications? Evidence from the Health and Retirement Study," Working Papers wp198, University of Michigan, Michigan Retirement Research Center.
    15. Barbara Hanel & Regina Riphahn, 2006. "Financial Incentives and the Timing of Retirement: Evidence from Switzerland," Working Papers 009, Bavarian Graduate Program in Economics (BGPE).
    16. Papke, Leslie E., 2019. "Retirement choices by state and local public sector employees: the role of eligibility and financial incentives," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(4), pages 515-528, October.
    17. Lisa Laun & Mårten Palme, 2018. "The Recent Rise of Labor Force Participation of Older Workers in Sweden," NBER Chapters, in: Social Security Programs and Retirement around the World: Working Longer, pages 231-265, National Bureau of Economic Research, Inc.
    18. John Sabelhaus & Alice Henriques Volz, 2020. "Social Security Wealth, Inequality, and Life-Cycle Saving," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, pages 249-285, National Bureau of Economic Research, Inc.
    19. Luc Behaghel & David M. Blau, 2012. "Framing Social Security Reform: Behavioral Responses to Changes in the Full Retirement Age," American Economic Journal: Economic Policy, American Economic Association, vol. 4(4), pages 41-67, November.
    20. Hongyu Lin, 2026. "Demand Index and Supply Index Based on Principal Component Analysis: Evidence From US Labor Market," American Journal of Economics and Sociology, Wiley Blackwell, vol. 85(1), pages 163-179, January.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsoctx:v:14:y:2024:i:5:p:63-:d:1389139. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager The email address of this maintainer does not seem to be valid anymore. Please ask MDPI Indexing Manager to update the entry or send us the correct address (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.