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Centre for Policy on Ageing | |
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| Why do boomers plan to work longer? | | Author(s) | Gordon B T Mermin, Richard W Johnson, Dan P Murphy |
| Journal title | Journals of Gerontology: Series B, Psychological Sciences and Social Sciences, vol 62B, no 5, September 2007 |
| Pages | pp S286-S294 |
| Source | http://www.geron.org |
| Keywords | Older men ; Attitudes to retirement ; Middle aged ; Social surveys ; United States of America. |
| Annotation | Recent changes in retirement trends and patterns have raised questions about the likely retirement behaviour of baby boomers, the large cohort born between 1946 and 1964. This study examines recent changes in retirement experiences and the factors that drove them. Using data from the US Health and Retirement Study (HRS), this analysis compared self-reported probabilities of working full-time past ages 62 and 65 for workers aged 51 to 56 in 1992 and 2004. The study modelled retirement expectations for both generations and used the estimated regression coefficients to identify the forces that accounted for generational differences. Between 1992 and 2004, the mean self-reported possibility of working full-time past age 65 for workers aged 51-56 increased from 27% to 33%. Linear rates of retiree health insurance offers from employers, higher levels of educational attainment and lower rates of defined benefit pension coverage accounted for most of the growth. Given the continued erosion in employer-sponsored retiree health benefits and defined benefit pension plans, baby boomers are likely to work longer than members of the previous generation. Lengthier careers will likely promote economic growth, increase government revenue, and improve individual financial security at older ages. (RH). |
| Accession Number | CPA-080307201 A |
| Classmark | BC: G7:DP: SE: 3F: 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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