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Centre for Policy on Ageing | |
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Pension decisions in a changing economy
— gender, structure and choice | | Author(s) | Melissa A Hardy, Kim Shuey |
| Journal title | Journals of Gerontology: Series B, Psychological Sciences and Social Sciences, vol 55B, no 5, September 2000 |
| Pages | pp S271-S277 |
| Keywords | Pensions ; Older women ; Sexual equality ; Consumer choice ; United States of America. |
| Annotation | As responsibility for financial security in retirement becomes more individualised, understanding the distribution of determinants of savings behaviour grows in importance. In this US study, gender differences in pre-retirement access to and disposition of accumulated pension assets are examined. Data from the Health and Retirement Study (HRS) was used to model pension participation, disposition of pension assets, and use of cash settlements from a pension plan in a previous job. Logit models provided estimates of gender differences in access to pensions and the preservation of pension funds for retirement. Women were less likely to have participated in employer sponsored pension plans; more likely to cash out accumulated pension assets when they changed jobs; and, when job changes occurred at a relatively young age, equally likely to spend the settlement. However, by their late 40s, women were more likely to save the settlement, a net gender difference that increased with age at which the settlement was received. Women continue to be disadvantaged by the employment compensation structure. Although the gender gap in pension coverage has been reduced, women with pensions have access to lower benefits and less in accumulated assets. As these continuing deficits are tackled, enhancing women's tendency to save pension assets for retirement can help them build financial security. (RH). |
| Accession Number | CPA-001123212 A |
| Classmark | JJ: BD: TM8: WYC: 7T |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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