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Pension Choices and Job Mobility in the UK

Author

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  • Andrietti, Vincenzo

    (Universidad Carlos III de Madrid)

Abstract

Using data from the British Household Panel Survey we analyze the impact of second tier pension scheme choices on job mobility within a discrete time hazard rate framework. We find that workers either offered and participating or offered and not participating to an occupational pension plan have significantly lower quit rates. However, once the endogeneity of pension scheme status is accounted for through an instrumental variable procedure, these coefficients are no more significant. Alternatively, the effect of pension portability losses on quits' hazards is never significant. The additional finding that workers participating to occupational pension plans are significantly less likely to quit for a non pension job can be interpreted as indirect evidence that they are in "good" jobs.

Suggested Citation

  • Andrietti, Vincenzo, 2003. "Pension Choices and Job Mobility in the UK," Royal Economic Society Annual Conference 2003 6, Royal Economic Society.
    • Handle: RePEc:ecj:ac2003:6
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    More about this item

    Keywords

    labour mobility; occupational pension plans; duration analysis instrumental variables;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy

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