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Analysis of Factors that Influence Workers' Decision to Retire

Author

Listed:
  • Nazarov, V.

    (Financial Research Institute, Moscow, Russia
    Russian Presidential Academy of National Economy and Public Administration (ISAF RANEPA), Moscow, Russia)

  • Dormidontova, Y.

    (Institute for Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration (ISAF RANEPA), Moscow, Russia)

  • Lyashok, V.

    (Institute for Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration (ISAF RANEPA), Moscow, Russia
    National Research University Higher School of Economics (HSE), Moscow, Russia)

Abstract

In recent years the problem of the increased number of pensioners and longer lifespan made motivation of elderly to work longer and retire later a very important objective in Russia. This article presents the results of the analysis of the factors that influence elderly's decision to retiree. For the purpose of this article the retirement was defined as elderly's decision to exit the labour market. It was determined that the most important factors are state of health, pension entitlement, labour income and marital status. Family factors (age difference between spouses, spouse's employment status and children below age of 15) were determined to be important for women only. Analysis showed that measures of stimulating elderly to work longer should be divided into two categories: 1) destimulation of labour market exit (psychological and legislative); 2) creation of conditions for voluntary extension of working life.

Suggested Citation

  • Nazarov, V. & Dormidontova, Y. & Lyashok, V., 2014. "Analysis of Factors that Influence Workers' Decision to Retire," Journal of the New Economic Association, New Economic Association, vol. 24(4), pages 66-86.
    • Handle: RePEc:nea:journl:y:2014:i:24:p:66-86
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    References listed on IDEAS

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    Cited by:

    1. Bakhtin, Maxim & Aleksandrova, Ekaterina, 2018. "Health and labor force participation of elderly Russians," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 49, pages 5-29.
    2. Lyashok, Victor & Roshchin, Sergey, 2015. "Effect of health on labor supply of elderly," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 40(4), pages 6-27.

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    More about this item

    Keywords

    pension system; retirees; retirement age; elderly employment;
    All these keywords.

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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