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Microeconometric Analysis of the Retirement Decision: United Kingdom

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  • Raffaele Miniaci
  • Elena Stancanelli

Abstract

The purpose of this paper is to investigate the retirement decision in the United Kingdom. We distinguish four retirement routes: retirement, unemployment, long-term sickness and other states. The focus of the paper is the impact of pension benefits on retirement transitions. We estimate multinomial logits and Cox proportional hazard rate models, separately for men and women. We conclude that participation in an occupational pension scheme increases the retirement hazard rate for men. The results for women are less clear-cut given the relatively small number of women entitled to an occupational pension scheme ... Cet article a pour objectif l'analyse de la décision de partir à la retraite au Royaume-Uni. Nous distinguons quatre voies de retrait du travail pour les personnes âgées: retraite, chômage, maladie de longue durée et autres. Le papier porte plus particulièrement sur l'impact des pensions professionnelles sur les transitions vers la retraite. Nous estimons des modèles logits multinomiaux et des modèles de Cox à taux de risqué proportionnel, séparément pour les hommes et les femmes. La conclusion que nous en tirons est que la participation à un régime de retraite professionnel accroît, chez les hommes, le taux de risque de retraite. Les résultats concernant les femmes sont moins précis étant donné le nombre relativement faible de femmes affiliées à un régime de retraite professionnel ...

Suggested Citation

  • Raffaele Miniaci & Elena Stancanelli, 1998. "Microeconometric Analysis of the Retirement Decision: United Kingdom," OECD Economics Department Working Papers 206, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:206-en
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    File URL: http://dx.doi.org/10.1787/646408174537
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    Cited by:

    1. Maes, Marjan, 2008. "Does the dismantlement of early retirement schemes increase unemployment in Belgium?," Working Papers 2008/57, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    2. Disney, Richard & Emmerson, Carl & Wakefield, Matthew, 2006. "Ill health and retirement in Britain: A panel data-based analysis," Journal of Health Economics, Elsevier, vol. 25(4), pages 621-649, July.

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