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We utilize panel data from the English Longitudinal Study of Ageing to investigate the impact of retirement on objective health measures. In contrast to many previous studies, which focus on subjective self-reported health and life satisfaction measures, we focus on objective health biomarkers, such as diabetes indicators and cholesterol. Because poor health can induce retirement, we instrument for retirement using eligibility for state and employer sponsored pensions. Overall, there are few significant impacts of retirement on health biomarkers. The direction of effects is also mixed. Some biomarkers improve upon retirement, while others deteriorate. This contrasts with the consistently positive and significant improvements that are found in self-reported measures from the same dataset., (Copyright © 2020 Elsevier B.V. All rights reserved.)

We utilize panel data from the Health and Retirement Study to investigate the impact of retirement on physical and mental health, life satisfaction, and health care utilization. Because poor health can induce retirement, we instrument for retirement using eligibility for Social Security and employer-sponsored pensions and coverage by the Social Security earnings test. We find strong evidence that retirement improves reported health, mental health, and life satisfaction. In addition, we find evidence of improvements in functional limitations in the long run. Although the impact on life satisfaction occurs within the first 4 years of retirement, many of the improvements in health show up four or more years later, consistent with the view that health is a stock that evolves slowly. We find no evidence that the health improvements are driven by increased health care utilization. In fact, results suggest decreased utilization in some categories., (© 2018 John Wiley & Sons, Ltd.)

We investigate the impact of a 2005 policy that provided more generous terms for delaying state pensions in the United Kingdom. First, we find that the policy reduced the fraction of males and possibly females receiving pensions at the earliest eligibility age and shortly thereafter. This shift affected cohorts who became eligible for state pensions at or after the policy change. Second, the policy is associated with increases in male and female labor supply around the earliest pension eligibility age, consistent with some individuals working longer to finance pension delay. However, further analysis suggests that these labor supply changes are more likely to reflect longer-term trends across birth cohorts rather than a causal effect of the policy. [ABSTRACT FROM AUTHOR]

We examine retirement saving for young adults in a life cycle model. We find that optimal retirement saving is zero for liquidity‐constrained young adults who anticipate significant earnings growth. With a plausible age‐earnings profile for college‐educated workers, retirement saving does not begin until the late 30s or early 40s. Workers facing a flat earnings profile begin saving much sooner. Participating may be optimal for younger workers facing steep earnings profiles if they anticipate switching jobs and cashing out after 1–2 years. Our results suggest that automatically enrolling workers, regardless of age, is not consistent with a life cycle model. [ABSTRACT FROM AUTHOR]

Media reports predicted that the stock market decline in October 2008 would cause changes in retirement intentions, due to declines in retirement assets. We use panel data from the Health and Retirement Study to investigate the relationship between stock market performance and retirement intentions during 1998-2008, a period that includes the recent crisis. While we find a weak negative correlation between stock returns and retirement intentions, further investigation suggests that this relationship is not driven by wealth shocks brought about by stock market fluctuations, but by other factors that are correlated with both the stock market and retirement intentions. [ABSTRACT FROM AUTHOR]