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The Effect of Removing Early Retirement on Mortality

Author

Listed:
  • Cristina Bellés Obrero
  • Sergi Jiménez-Martín
  • Han Ye

Abstract

This paper studies the mortality effects of delaying retirement by leveraging the 1967 Spanish pension reform, which exogenously increased the earliest voluntary claiming age from 60 to 65 based on individuals' date of first contribution. Using Spanish administrative data, we find that removing access to early retirement delays age at last employment by 4 months and increases the probability of death between ages 60 and 69 by 11 percent. The mortality effects are concentrated among workers in physically demanding, high-psychosocial-burden, and low- skilled occupations, while men and women are affected similarly. Access to flexible retirement mitigates the adverse effects of delaying retirement.

Suggested Citation

  • Cristina Bellés Obrero & Sergi Jiménez-Martín & Han Ye, 2025. "The Effect of Removing Early Retirement on Mortality," Working Papers 1528, Barcelona School of Economics.
    • Handle: RePEc:bge:wpaper:1528
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    Cited by:

    1. is not listed on IDEAS
    2. Cristina Bellés Obrero & Manuel Flores & Pilar García-Gómez & Sergi Jiménez-Martín & Judit Vall-Castelló, 2025. "Social Security Reforms and Inequality Among Older Workers in Spain," NBER Chapters, in: Social Security Programs and Retirement Around the World: The Effects of Pension Reforms on the Income Distribution of Retirees, National Bureau of Economic Research, Inc.
    3. Chiara Malavasi & Han Ye, 2024. "Live Longer and Healthier: Impact of Pension Income for Low-Income Retirees," CRC TR 224 Discussion Paper Series crctr224_2024_514v2, University of Bonn and University of Mannheim, Germany.
    4. Todd Morris & Benoit Dostie, 2023. "Graying and staying on the job: The welfare implications of employment protection for older workers," Cahiers de recherche / Working Papers 15, Institut sur la retraite et l'épargne / Retirement and Savings Institute.
    5. repec:bon:boncrc:crctr224_2024_514 is not listed on IDEAS
    6. Martin Kerndler & Alexia Prskawetz & Miguel Sánchez-Romero, 2025. "A life-cycle model of risk-taking on the job," Journal of Population Economics, Springer;European Society for Population Economics, vol. 38(3), pages 1-32, September.

    More about this item

    Keywords

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    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • 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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