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Background: Retirement transition has been shown to associate with changes in physical activity (PA) and self-rated health (SRH), but their interrelationship is less studied. The aim was to investigate changes in accelerometer-measured total PA, moderate to vigorous PA (MVPA), and sedentary time across retirement transition as a predictor of SRH. Methods: Data from the Swedish Retirement Study and the Finnish Retirement and Aging study were harmonized and pooled. Data from 3 waves (about 12 mo apart) were included: 1 preretirement (wave 1) and 2 postretirement follow-ups (wave 2–3). A totally of 245 participants (27% men) were included. Thigh-worn accelerometers were used to collect data for PA variables (wave 1–2), and SRH was obtained from the questionnaire (wave 1–3). Results: Between wave 1 and 2, total PA decreased with 11 (CI, −22 to −1) minutes per day, MVPA was stable (0 [CI, −3 to 3] min), and sedentary time decreased nonsignificantly with 9 (CI, −20 to 1) minutes. SRH changed between all 3 waves (all P <.001). At preretirement, 10 more minutes of MVPA was associated with greater odds of better SRH when adjusting for accelerometer wear-time, cohort, sex, age, and occupational status (odds ratio: 1.11 [95% CI, 1.02–1.22]). This association was no longer statistically significant when additionally adjusting for marital status, body mass index, and smoking. No significant associations were observed between changes in the PA variables during retirement transition and SRH at postretirement follow-ups. Conclusions: This study showed a cross-sectional association between MVPA and greater odds of reporting better SRH before retirement. No longitudinal associations were observed between changes in the PA variables from before to after retirement and later changes in SRH. [ABSTRACT FROM AUTHOR]

At some point, every working person will face the decision about whether to retire, and the resulting decision emerges about when to do it. It can always be undone, and a return to work in some form can ensue, but the decision tree must be negotiated in some manner whether once or multiple times. Financial professionals obviously have a significant role in the financial capacity of their clients to do so. All have probably also encountered their clients' attitudes, quandaries, questions, issues, eligibility, and challenges about both the decision and the capacity in some form or another. Aside from finances and related issues, others such as health, age, personal and spousal life expectancy, family care responsibilities, socioeconomic conditions, anxiety, and innumerable others may go into the process. For some, all of these are negotiated quickly and successfully. Others may require additional resources and understanding on the part of the financial professional. Understanding some of the personal and demographic dynamics can assist in making the decision process more successful for both. [ABSTRACT FROM AUTHOR]

Background Single-country studies document varying time trends in memory function and impairment. Comparative analyses are limited. Methods We used self-respondent data on adults aged 50+ years in 13 countries from 3 surveys (United States: Health and Retirement Study, 1998–2018; England: English Longitudinal Study of Ageing, 2002–2018; 11 European countries: Survey of Health, Ageing and Retirement in Europe, 2004–2019). Memory is measured with tests of immediate and delayed word recall. Unweighted age- and gender-adjusted mixed effects regression models as well as models with adjustments for additional sociodemographic characteristics and health behaviors were examined. Heterogeneity in trends by gender, age group, and educational attainment was measured. Results The age-adjusted 10-year improvement in average test score is 0.04 standard deviations (SD s) (95% confidence interval [CI]: 0.03, 0.05) in the United States, 0.17 SD s (95% CI: 0.15, 0.19) in England, and 0.24 SD s (95% CI: 0.23, 0.25) in SHARE countries. Trends are largely similar across gender, age groups, and educational attainment. Regional differences in trends remain after adjustment for potential mechanisms. The difference between the United States and other countries is particularly large under 75 years of age compared to 75 years and older. Conclusions Pace of improvement in memory function varies strongly across countries. On average, the 11 European countries studied had the fastest improvement, followed by England. The trend in the United States indicates improvement, but at a much slower pace compared to that in England and other European countries. Uncovering the causes for the cross-country heterogeneity in time trends, and in particular the reasons for the comparatively poor performance of the United States, should be both a research and public health priority. [ABSTRACT FROM AUTHOR]

Numerous jurisdictions have recently raised the age of retirement or plan to do so. Pressure to extend people's working lives is due to population aging, which makes it harder to fund retirement through existing methods. Raising the retirement age can improve the 'dependency ratio' by increasing the fraction of the population that works (and pays taxes) relative to the fraction retired. This article gives sustained attention to connecting the case for retirement with one view about wellbeing, according to which old age is subject to distinctive goods. The importance of being able to access these goods in old age favours an eventual exit from labour market participation that retirement provisions enable. This view is stronger than one that treats retirement as merely a safety net to enable people to stop work only when advanced aging makes it unreasonably burdensome. At the same time, the view likely does not justify status quo retirement ages, meaning that some increase to the retirement age might be defensible. The article also seeks to illuminate ways in which different aspects of population aging – in particular the distinction between dependency ratios and inequalities in longevity – bear differently on the wider debate about justice and retirement. [ABSTRACT FROM AUTHOR]

Driven by the traditional concept of "Raising Children to Ensure Old-age Security", China's elderly care system has long relied on a family-centered approach, with intergenerational financial transfers (IFTs) serving as a major source of income for the elderly. However, as China's population ages, the government's plan to implement delayed retirement from 2025, along with pension reforms, is expected to reshape family-based eldercare and intergenerational financial dynamics. This paper employs an Overlapping Generation (OLG) model, grounded in unified growth theory, which incorporates a delayed retirement policy under the constraint of pension fund balance to examine the impact of adjusting the pension contribution rates (PCRs) and raising retirement age (RA) on IFT rates. The research findings indicate a negative correlation between RA, PCR, and IFT. Both policies have the potential to alleviate the burden on family-based eldercare. The integrated implementation of these two policies not only creates room for a phased reduction in pension contribution rates but also enables the effective utilization of senior workers' expertise and experience. [ABSTRACT FROM AUTHOR]

This study centers on public policy concerning the retirement age in Israeli academia. The purpose of this study is to analyze the justification for the existing policy on this issue that allows academic institutions to end the employment of faculty when reaching the legal retirement age. The research method is based on analysis of the research and teaching data for 485 senior faculty members at Ariel University in Israel, which constitutes a case study. The research findings show on one hand higher research output among faculty who have passed the retirement age versus those who have not reached retirement, and on the other lower mean teaching evaluation scores received by faculty above retirement age that those received by younger faculty. The research conclusions determine that reaching retirement age does not necessarily affect the professional output of faculty or justify their removal from the academic institution. Even if the teaching capabilities of older faculty members are negatively affected over the years, their contribution to the academic institution is mostly influenced by their scholarly output, positive impact on the institution's image, and not inconsiderable contribution to it, deriving from their considerable experience that is utilized for supporting and directing younger faculty. Therefore, a possible conclusion is that faculty members who have reached retirement age constitute an asset rather than a burden for the academic institution. Hence, the findings question the justifications for the public policy implemented in Israel in this area and call for its reexamination. [ABSTRACT FROM AUTHOR]

Purpose: The COVID-19 pandemic forced many employees to work from home, resulting in new demands that might cause older workers to reevaluate their retirement decisions. Building on the extended Job Demands-Resources model, which explains work-related outcomes in times of crisis, this study investigated the change in older workers' intention to continue working during COVID-19 and the role of ICT-related strain and social support during teleworking. Design/methodology/approach: A two-wave longitudinal study was conducted among 1,406 older workers (i.e. 50 years or older). Data were collected before the COVID-19 pandemic (2019: T1) and during the pandemic (2021: T2). In total, 967 older workers completed the survey at both waves. Findings: Older workers' nearing retirement experienced a decline in intentions to continue working during the pandemic, while intentions of older workers further away from their retirement increased. At T2, the negative relationship between telework intensity and the intention to continue working was mediated by ICT-related strain. Perceived social support at work seems to buffer the negative impact of telework intensity on ICT-related strain. Originality/value: This study provides valuable insights into factors that may stimulate older workers' workforce participation by investigating effects of ICT-related strain and social support during telework. Organizations can implement interventions that enhance job resources and reduce job demands during telework to help mitigate ICT-related strain and postpone retirement. [ABSTRACT FROM AUTHOR]

Background Objectives Methods Results Conclusion The worldwide prevalence of diabetes is increasing, particularly among older adults. Understanding the association between muscle strength and mortality in this population is crucial for developing targeted exercise recommendations.To assess the prospective association of muscle strength with mortality in older adults with diabetes.From the Survey of Health, Ageing and Retirement in Europe (SHARE) study, spanning 28 countries, we included 16 149 diabetic adults aged 50 years and older (mean age 68.2 [standard deviation, SD, 9.2] years). Participants fulfilled two criteria: (1) diabetes diagnosis (ever) and (2) current use of diabetes medication. Muscle strength was assessed using handgrip dynamometry (unit: kg). Using time‐varying Cox regression with restricted cubic splines, we determined the prospective association of muscle strength with all‐cause and cause‐specific mortality, controlling for various confounders.Over a mean follow‐up of 5.9 years (SD 3.8), 2754 participants died (17%). Using the median level of muscle strength as reference (30 kg), lower and higher levels were associated in a curvilinear fashion with higher and lower all‐cause mortality risk, respectively. The 10th percentile of muscle strength (17 kg) showed a hazard ratio (HR) of 1.65 (95% confidence interval (CI) 1.53–1.79). The 90th percentile (47 kg) of muscle strength showed a HR of 0.55 (95% CI 0.49–0.63). A somewhat similar pattern, with varying strength of associations, was seen for mortality due to cardiovascular disease (CVD), respiratory disease, severe infectious disease, digestive system disease and cancer.Muscle strength is gradually and inversely associated with all‐cause and cause‐specific mortality risk in older adults with diabetes. As muscle strength is highly adaptable to resistance training at all ages, the present findings highlight the importance of improving muscle strength in older adults with diabetes. [ABSTRACT FROM AUTHOR]

The demographic trend of population aging is a global phenomenon impacting the world community at large and individual national economies. Despite growing interest in the determinants of continued work among retirees, the internal (psychological) factors influencing an individual's decision to retire after reaching retirement age have been inadequately studied. This study addresses this gap by examining psychological variables such as subjective age and temporal focus among working retirees. The results of comparing groups of working and non-working retirees revealed several key findings: 1) retirees who continue to work have a lower past focus compared to non-working retirees; 2) the subjective age of working retirees is lower (younger) than that of non-working retirees; 3) an association between a younger subjective age and current focus was found in non-working retirees, whereas in working retirees, no links were found between temporal focus and subjective age; and 4) the desire to stay young (younger social age) predicts the continuation of work in retirement. This study contributes to the development of ideas about the role of psychological time in motivating elderly people to continue their professional activities in retirement. The results strengthen the evidence that a younger subjective age, especially social age, is one of the reasons for continuing a professional career in old age. Additionally, the study enriches scientific understanding with new data on the role of temporal focus in the context of aging. [ABSTRACT FROM AUTHOR]

Objectives: To examine how unmet healthcare needs and the exposure to the pandemic impacted self-reported health (SRH) among individuals aged 50 and above. Methods: We use data from two waves of the Survey of Health, Ageing and Retirement in Europe (SHARE) Corona Survey collected in 2020 and 2021 in 27 European countries and Israel (N = 42,854). Three dimensions of barriers to healthcare access were investigated: healthcare forgone, postponed, and denied. Mixed-effects logistic regression analysis was employed to explore SRH deterioration during the pandemic. Results: Findings indicate that unmet healthcare needs decreased throughout the pandemic but significantly contributed to the worsening of SRH among older adults. Mild or severe exposure to the pandemic heightened the likelihood of reporting deteriorated SRH. Additionally, the pandemic disproportionately affected females, the oldest-old, and those living alone or facing economic vulnerability. Conclusion: To mitigate the adverse effects on the health status of older adults, policymakers are strongly advised to prioritize addressing the healthcare needs of those who have been disproportionately affected by the pandemic. [ABSTRACT FROM AUTHOR]

Using the Survey of Health, Ageing and Retirement in Europe (a total of 66,188 participants from 15 European countries) and the European Gender and Generation Survey (a total of 121,248 participants from 12 countries), we investigated i) whether differences in political attitudes and attitudes toward family values (i.e. attitudes toward homosexual couples, attitudes toward female reproduction) are associated with differences in the average number of children, and ii) whether such an association between fertility and attitudes affects the population share of these attitudes in subsequent generations. We found that in most of the countries analyzed, right-wing (conservative) individuals have, on average, more children and grandchildren than left-wing (liberal) individuals. We also found that the proportion of right-wing individuals increases from generation to generation. Since political attitudes are presumably evolved traits that are socially and genetically transmitted from one generation to the next, these findings may suggest that demographic differences can lead to shifts in prevailing political attitudes. Thus, to some extent, demography may explain longer-term political trends. [ABSTRACT FROM AUTHOR]

Purpose: Psychotic disorders are associated with substantial productivity costs; however no previous studies have compared these between schizophrenia spectrum (SSD) and other psychotic disorders (OP). The human capital method (HCM) and the friction cost method (FCM) are the two most common approaches to assess productivity costs. The HCM focuses on employees' perspectives on the costs, whereas the FCM demonstrates employers' perspectives. Studies comparing these methods when estimating the productivity costs of psychoses are lacking. Methods: Utilizing the Northern Finland Birth Cohort 1966 with linkages to national registers, we compared the adjusted productivity costs of SSD (n = 216) and OP (n = 217). The productivity costs were estimated from ages 18 to 53 including projections to statutory retirement age using the FCM and HCM. Results: When estimated via the HCM, productivity losses were higher for SSD (€193,940) than for OP (€163,080). However, when assessed using the FCM, costs were significantly lower for SSD (€2,720) than for OP (€4,430). Productivity costs varied by sex and various clinical and occupational factors. Conclusion: This study highlights how productivity costs vary by psychosis diagnosis. These differences should be noted when planning interventions. The low FCM estimates indicate the need of interventions before or during the early phases of psychoses. From a societal perspective, interventions are needed, particularly for those with highest HCM productivity losses, such as males with SSD. Besides psychiatric services, the roles of social services, employment agencies and occupational health care should be considered when helping individuals with psychoses to working life. [ABSTRACT FROM AUTHOR]

Objectives: The fertility health of the migrating population has attracted significant attention. This article examines the impact of parental retirement on the fertility intentions of the offspring among the internal migrant population. Methods: This study utilizes the mandatory retirement age system as an exogenous shock within a fuzzy regression discontinuity (FRD) experimental design to investigate the influence of parents' retirement on the fertility intentions of their migrant offspring and potential mechanisms. Results: The research findings indicate that parents' retirement significantly reduces the fertility intentions of the migrant population by 34.4%. Mechanism analysis attributes this adverse effect to the reduction in intergenerational wealth transfer due to parent's retirement. As the family's economic situation worsens, the negative impact of retirement on fertility intentions becomes more pronounced. The childcare support mechanism provided by retired grandparents can partially offset the adverse effects of the income mechanism. Conclusions: This study provides recommendations for enhancing policies related to delaying retirement age and childcare. [ABSTRACT FROM AUTHOR]

The article presents a critique of the book "Una vida y veinte fragmentos" by María Ángeles Durán, an autobiography of 176 pages and a selection of twenty academic texts. Durán is the first woman to obtain a Sociology chair in Spain and has received several awards and recognitions. The text highlights the importance of understanding the development of sociology in Spain through autobiographical books by Spanish sociologists. Durán's autobiography focuses on her childhood, youth, and her sociological concern about unpaid work in Spain. It also addresses her cancer illness and her bitter view on old age and retirement. Durán has published numerous books and academic articles throughout her career. [Extracted from the article]

The United Nation's Sustainable Development Goal 8 (SDG8) emphasizes decent work and the need to generate employment for vulnerable groups such as women, youth, and low-income rural and urban residents. Though extended retirement age policies to sustain workforce productivity are promulgated across OECD states, within SDG8 there is no evident focus on older citizens' need for decent work. We believe this goal lacks detail in addressing the specific needs of older and post-retirement workers and their equal vulnerability to inadequate decent work conditions, economic strain, and diminished well-being. We expand on this issue with particular focus on this older cohort's predictors and attainment of decent work and proffer the psychology of working theory as a foundation to redress the inadequacy of SDG8 and formulate recommendations for policy and research to recognize the needs of older and post-retirement workers. This approach is aligned with the Psychology of Sustainability and Sustainable Development framework in a lifelong perspective. [ABSTRACT FROM AUTHOR]

While the economic benefits of internal migration are widely documented, the social costs of internal migration have received comparatively less attention. In addition, most studies focus on the impact of the last-recorded migration, ignoring the cumulative impact of successive migrations. Grounded in the life-course trajectory approach to migration and the convoy model of social networks, this paper addresses this gap by applying sequence and cluster analysis to retrospective data from the Survey of Health, Ageing and Retirement in Europe (SHARE) in 26 European countries to establish internal migration trajectories based on the timing, frequency, and direction of migration between NUTS-2 regions. The results reveal that differences in social networks between lifetime stayers, childhood migrants and one-time adult migrants are minimal. A more complex picture emerges for repeat migrants who account for half migrants and are split between return migrants, serial onward migrants, and circular migrants. Regression results show that repeat migrants – whether onward, return, or circular – display social networks less focused on family and more geographically dispersed, which results in a lower frequency of contact than lifetime stayers. However, repeat migrants report the same level of overall satisfaction with their social networks as lifetime stayers, which suggests that they start with different expectations than stayers or simply adjust their expectations in response to the social costs and benefits of migration. • Migrating once over the life course has a limited effect on an individual's social networks compared to lifetime stayers. • The impact of past migrations on social networks diminishes over time, particularly if migrations occurred early in life. • Repeat migrants have more geographically dispersed and less family-focused social networks compared to lifetime stayers. • Circular migrants report the most dispersed network and the lowest frequency of contact among repeat migrants. • Integration of the convoy model from social networks literature with the life-course trajectory approach from migration literature. [ABSTRACT FROM AUTHOR]

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We study the optimal design of a fair public pension system in a multi-period overlapping generations model with occupation-specific morbidity and mortality that depends on the retirement age. The fairness constraint acts as institutional device ensuring that lifetime returns to contributions are equal across occupational groups. We consider group-specific replacement rates and a calculatory interest rate for early contributions as policy instruments. Calibrating the model to Germany, we find that the transition to optimal fair pension policies may induce early retirement of blue-collar workers and significantly raises their lifetime pension benefits and welfare. Aggregate welfare increases in all fair pension scenarios. [ABSTRACT FROM AUTHOR]

Literature suggests that on average, social participation declines after retirement. However, there likely remains substantial variability in individual experiences. We rely on seven waves of the Korean Longitudinal Study of Aging to identify contrasting social participation trajectories of individuals 45 years and older after leaving work, and their individual-level correlates. Informal and formal social participation were measured through self-reported frequencies of meeting a friend and attending a group respectively. Group-based trajectory modeling delineated heterogeneous changes over time and multinomial logit regressions estimated individual-level correlates of the trajectories. While a minority of respondents experienced trajectories of decreasing social participation (6%–12%), a majority exhibited stable trajectories (79%–81%), and some even experienced increasing participation (7%–8%). There was also a U-shaped trajectory of decline and recovery in formal social participation (7%). Our findings challenge the belief that disengagement is the norm and illustrate the heterogeneous experiences of social participation after retirement. Returning to work, vs. stopping work for an extended period, was associated with favorable trajectories, pointing to the strong connection between work and social participation, and the potential for interventions that promote bridge employment and lifelong learning. Interestingly, the high stable trajectory of informal participation was associated with certain factors that may be considered vulnerabilities, such as being older, female, single, living in non-metropolitan regions, and retiring from irregular work. This highlights the possibility that despite facing challenges, older adults can aspire towards high social participation. [ABSTRACT FROM AUTHOR]

Since the 1980s, policy makers have favored Defined Contribution (DC) pension systems as the alternative to address the unsustainability of Defined Benefit systems. While DC schemes offer benefits and economic advantages, they also present challenges and limitations. We evaluate the mandatory DC pension system for workers in the private formal sector in Mexico, introduced in 1997. We intend to determine for which workers the design of the system is effective and for which workers it is not. The Mexican labor market has high levels of informality and workers constantly flow in and out of the formal sector. Our findings support the view that workers' personal characteristics place them in the structure of the labor market that in turn determines pension benefits. We analyze involvement with the formal sector and the pension system and identify 3 groups of pension participants that reflect the structure of the local labor market: occasional workers, frequent interruptions, and workers with high participation rates. We conclude that frictions in the labor market prevail over the good intentions of the pension design, like reducing informality and encouraging saving for retirement. Our results show that the system properly serves only 36% of affiliated workers. We explain why very few workers report behaviors consistent with high participation, and why most affiliates have insufficient participation to receive pension benefits. We shed light on the relationship between the structure of the labor market and the design of the pension system and their impact on workers' future pension benefits. [ABSTRACT FROM AUTHOR]

This paper investigates the association between accumulated experiences in the working and parenting spheres and retirement timing among Spanish women, utilizing data from the Survey of Health, Ageing and Retirement in Europe (SHARE). The study examines whether labor market attachment or cumulative disadvantage characterizes women's retirement and how these factors relate with the number of children. Firstly, multichannel sequence analysis and cluster analysis were employed to identify distinct work–family life courses from ages 20 to 50. Seven clusters were identified: "Full-time work with 2+ children," "Out of the labour force and 2+ children," "Mid-life discontinuity and 2+ children," "Full-time work and 1 child," "Full-time work and childless," "Part-time work and 2+ children," and "Part-time work or out of the labor force and 1 child." Secondly, the study examines the association between these identified groups and retirement timing. The results indicate that Spanish women who have experienced more unstable careers characterized by extended periods of inactivity or part-time work, particularly in combination with having 2 or more children, are more likely to retire at a later age compared with women with continuous careers, with or without children. These findings underscore the ongoing challenges of balancing unpaid care work and wage work in Spain, while also revealing notable variations among women. [ABSTRACT FROM AUTHOR]

Private pensions have expanded in recent decades in many European countries, albeit to different extent. As private pensions historically have been more unequally distributed than public pensions, it is reasonable to expect that pension privatization has increased the dispersion of incomes among the retired. However, few studies have empirically tested this claim. The purpose of this study is to assess how the expansion of private pensions affects developments of income inequality among the retired. Using microdata from the Luxembourg Income Study, decomposition analyses of income inequality by income source are conducted around 1986 and 2018 in nine European countries. To account for cross-country variations in the public–private pension mix, the study distinguishes between mature multi-pillar systems, emergent multi-pillar systems, and dominant public systems. The results highlight an interesting paradox. Higher shares of private pensions in retirement incomes have a substantial inequality-increasing effect; yet, overall income inequality among the retired has not necessarily increased, for 2 reasons. First, more equally distributed public pensions in emergent multi-pillar systems and declining shares of capital income in mature multi-pillar systems either fully or partially compensated for increased inequality due to larger shares of private pensions. Second, private pensions became more equally distributed among the retired in most countries. [ABSTRACT FROM AUTHOR]

Policies incentivizing longer working lives can remain ineffective if employers are not able and willing to employ an aging workforce. Depending on what employers consider appropriate age norms for work and retirement, they may be more willing to recruit and retain older workers. This study investigates how these retirement age norms differ across Europe and how they are related to country- and gender-specific pension policies and employment practices. The study uses data from the European Social Survey round 9 (collected in 2018) for 27 countries. Employers are identified as self-employed with personnel and managers who supervise others. The data include questions about the ages of when someone is too young to retire and when someone is too old to work. These items are combined and used in a set of multilevel interval regression models to analyze: (a) How employers' retirement age norms differ from those of employees and (b) How employers' retirement age norms vary across countries. The results indicate that, overall, employers have higher retirement age norms than employees, but that the difference narrows substantially once controlled for other factors. Employers' retirement age norms are positively related to countries' gender-specific statutory retirement ages and older-worker employment rates. In the case of statutory retirement ages, this association is stronger among employers than among various socioeconomic groups of employees. [ABSTRACT FROM AUTHOR]

Background and Objectives: Perceived health status (PHS) is associated with various health outcomes in older adults, but its relationship with resilience in the context of events with a major impact on functional status (FS), such as hip fracture, has not been explored. Our objective was to evaluate whether older adults who report good PHS before a hip fracture have a higher probability of returning to their baseline physical performance (PP) and personal independence. Materials and Methods: We analyzed data from waves 1 and 2 of the Survey of Health, Ageing and Retirement in Europe (SHARE) study, enrolling patients ≥ 65 years who experienced a hip fracture between these two waves. As study outcomes, we analyzed changes in PP and functional abilities (FAs). Results: We included 149 participants with a mean age of 75.7 years (SD: 6.5); women comprised 66%. The incidence of loss of PP was 51.7% among participants with good PHS and 59.6% among those with poor PHS. FA worsened in 40% of participants with good PHS and 58.4% in those with poor PHS. Relative risk (RR) for loss of FA in people with good PHS was 0.68 (95% CI: 0.48–0.98), which did not change after an adjustment for age, gender, baseline FA, depression, number of comorbidities, education, income, and social support, despite it not reaching statistical significance. After adjustment, the risk of worsening PP in participants with good PHS was reduced by 34% (95% CI: 0.41–1.06). Conclusions: A simple question on PHS may predict the resilience of older adults after an acute stressor. A systematic evaluation of PHS can help identify patients with a higher probability of regaining function after a hip fracture and thus provide useful information for resource allocation. [ABSTRACT FROM AUTHOR]

This study aimed to understand the age‐specific internal migration patterns in Japan where more than a quarter of the population is aged ≥65 years and the national population is on the decline, focusing on the urban hierarchy. Demographic efficiency, which is the ratio of net to gross migration, was calculated for each migration flow between the levels of urban hierarchy in Japan based on the 2020 census. The results showed that the overall upward migration, which is a movement from lower to higher levels in the urban hierarchy, was dominant. A variation in migration patterns by age confirmed that young adults, especially those aged 20–24 years, moved up the urban hierarchy unidirectionally, while people of preretirement and retirement age moved down. The older adults (aged 75 and over) were inclined to move up. Regarding sex‐based differences, the demographic efficiency of women was higher than that of men. Additionally, the upward movement of women was predominant in almost all age groups. These findings suggest the possibility that aggregated migration behaviours may vary by sex, which has received little attention in previous migration studies focusing on urban hierarchies in other countries. Furthermore, this study discussed policy implications based on the observed patterns, such as the impacts of older adults' migration on social security at each hierarchy level and a possible relationship between women's upward migration patterns and future fertility decline. [ABSTRACT FROM AUTHOR]

This article shows that individual-level heterogeneity in survival expectations derived from subjective survey information improves the out-of-sample predictions of a dynamic model of retirement and saving. We consider three approaches to modelling survival: life tables, average subjective expectations, and individual-specific estimates based on reported survival probabilities. The models are estimated using Dutch data from the 1990s, a period during which workers could retire from age 59 at no penalty to pension benefits. Actuarial adjustments were introduced in the early 2000s, and we use data from the period 2006–16 to evaluate the accuracy of the counterfactual predictions. While the three models yield different preference estimates, their within-sample fit is similar. Out-of-sample forecasts do differ markedly. The models with homogeneous expectations anticipate a 4- or 5-year increase in the average retirement age in the new regime, compared with an observed increase of 2.6 years. The model with heterogeneous expectations predicts a more realistic increase of 2.7 years. Expectations matter when it comes to counterfactual predictions, even if different combinations of preferences and expectations appear equivalent within a given institutional setting. [ABSTRACT FROM AUTHOR]

The age pension aims to assist eligible elderly Australians who meet specific age and residency criteria in maintaining basic living standards. In designing efficient pension systems, government policymakers seek to satisfy the expectations of the overall aging population in Australia. However, the population's unique demographic characteristics at the state and territory level are often overlooked due to the lack of available data. We use the Hamilton-Perry model, which requires minimum input, to model and forecast the evolution of age-specific populations at the state and territory level. We also integrate the obtained sub-national demographic information to determine sustainable pension ages up to 2051. We also investigate pension welfare distribution in all states and territories to identify the disadvantaged residents under the current pension system. Using the sub-national mortality data for Australia from 1971 to 2021 obtained from AHMD (2023), we implement the Hamilton-Perry model with the help of functional time series forecasting techniques. With the forecasts of age-specific population sizes for each state and territory, we compute the old age dependency ratio to determine the nationwide sustainable pension age. [ABSTRACT FROM AUTHOR]

This article characterizes optimal social security in economies with agents who exhibit loss aversion. Two forms of loss aversion are explored. In the first, workers have a fixed retirement age and are loss averse over private savings. This motivates a more generous social security program. In the second, workers do no private savings but can choose their retirement age, exhibiting loss aversion over the foregone leisure time from delayed retirement. Social security benefits consequently rise steeper with retirement age and an earlier normal retirement age is optimal. In both cases, optimal policy is highly sensitive to the introduction of loss averse preferences. [ABSTRACT FROM AUTHOR]

This research aimed to examine the factors that impact the financial planning for retirement among employees in Thai Rajabhat universities. To validate the theoretical framework and the collected empirical data, we utilized the confirmation factor analysis method, which allowed us to assess the relationship between the factors and examine how well the data fits the proposed model. We collected data from a sample of 433 employees by administering a 5-point Likert scale questionnaire. The collected data was subsequently analyzed using the Lavaan package in R Studio software. The research findings revealed that knowledge and understanding, financial status assessment, expected return or investment strategy, risk acceptance or risk tolerance, setting goals in life or goals’ clarity, and alternative sources of income or other income played important roles in shaping retirement financial planning among our study participants. To evaluate the theoretical structural model, we conducted statistical analyses and found that it fitted the empirical data at a significance level of 0.05. The statistical results of CMIN/df = 11, GFI = 0.941, AGFI = 0.848, FI = 0.946, and RMSEA = 0.000 provided evidence for the validity and reliability of the proposed model. Going forward, the resulting model will serve as a guideline to evaluate the efficiency of financial planning for the retirement of employees, provide solutions to identified problems, and inform policies and programs that aim to improve retirement financial planning for employees in the higher education sector. Doi: 10.28991/ESJ-2024-08-04-08 Full Text: PDF

Background: Previous studies only considered the impact of a single physical or psychological disorder on dementia. Our study investigated the association of physical and psychological multimorbidity with dementia among older adults using two multinational prospective cohorts to supplement the limited joint evidence. Methods: We utilized the Health and Retirement Study (HRS 2012 to 2018) in the United States (US) and the Survey of Health, Ageing and Retirement in Europe (SHARE 2012 to 2018). Physical disorder was defined as any one of seven self-reported physician-diagnosed conditions. Psychological disorder was assessed using the 8-item Center for Epidemiologic Research Depression (CES-D) scale or the EURO-D. Dementia was determined through a combination of self-reported physician diagnosis of dementia or Alzheimer's disease, or the 27-point HRS cognitive scale. Competing risk models were utilized to estimate the hazard ratios (HRs) and 95% confidence intervals (95% CI). DerSimonian-Laird random-effects meta-analyses were conducted to obtain pooled estimates. Results: The prevalence of physical and psychological multimorbidity was 17.29% (1027/5939) in continental Europe and 15.52% (1326/8543) in the US. The incidence of dementia was 6.21 per 1000 person-years in continental Europe and 8.27 per 1000 person-years in the US, respectively. It was highest among participants with physical and psychological multimorbidity in continental Europe (10.46 per 1000 person-years) and the US (14.82 per 1000 person-years), compared with the other three groups. In the univariate model, participants who reported physical and psychological multimorbidity had a higher risk of dementia compared with those who reported no physical and psychological disorders in continental Europe (HR = 2.59; 95% CI: 1.55, 4.33) and the US (HR = 4.11; 95% CI: 2.44, 6.94). After adjusting all covariates, the risk of dementia among participants who reported physical and psychological multimorbidity increased by 86% in continental Europe (aHR = 1.86; 95% CI: 1.08, 3.21) and by 176% in the US (aHR = 2.76; 95% CI: 1.61, 4.72), respectively. After pooling the outcomes, the risk of dementia among participants who reported physical and psychological multimorbidity increased by 115% (aHR = 2.15; 95% CI: 1.27, 3.03). Conclusions: Physical and psychological multimorbidity was prevalent among older adults in the US and continental Europe. Given the consistent associations with dementia, it is imperative to increase awareness of the links and recognize the limitations of single-disorder care. Specific attention should be given to providing care coordination. [ABSTRACT FROM AUTHOR]

Background: Promoting older workers' health in the context of increasing labor force participation and skill shortages is crucial. Examining job resource profiles offers a promising approach to understanding how to promote and maintain the health of older workers within the workplace. However, it is unclear how different job resources interact within distinct worker subgroups. Thus, this study explores the association between the job resource profiles of distinct subgroups and various health indicators among older workers in Europe. Methods: Data from 4,079 older workers (age range: 50–60 years, 57% female) from waves 6 and 8 of the Survey of Health, Ageing and Retirement in Europe (SHARE) were analyzed. Latent profile analysis was employed to identify distinct job resource profiles using social support, recognition, job promotion, autonomy, and development opportunities. Associations between these profiles and various health indicators were examined, alongside the sociodemographic and socioeconomic characteristics associated with each profile. Results: Four distinct job resource profiles emerged: (I) average job resource workers (n = 2170, 53%), (II) high social job resource workers (n = 983, 24%), (III) low job resource workers (n = 538, 13%), and (IV) autonomous decision-making workers (n = 388, 10%). Workers in the (II) high social job resource profile had the highest socioeconomic status and reported the best self-perceived health, lowest depressive symptoms, and fewest limitations and chronic diseases. Conversely, workers in the (III) low job resource profile had the second-lowest socioeconomic status and reported the poorest health outcomes. Surprisingly, older workers with high autonomy (profile IV) had the lowest socioeconomic status and the second worst self-perceived health. This may be because they perceive themselves as autonomous while lacking support and recognition. Conclusion: There is wide variation in the level and composition of resources available to older workers in the workplace. The most vulnerable subgroups, such as low job resource workers (profile III) and autonomous decision-making workers (profile IV), could benefit from tailored workplace health promotion interventions, such as support from supervisors or peers. Strengthening older workers' job resources, including social support and recognition, can improve their health and contribute to them remaining in the workforce. [ABSTRACT FROM AUTHOR]

Background: Anesthesiologists provide crucial anesthesiology services in the operating room and non-operating room locations. Combined with an aging and growing Israeli population, there is an increasing demand for anesthesiology services. A previous study performed in 2005 showed that most anesthesiologists are immigrant physicians with few Israeli medical school graduates. Since then, physician immigration decreased, many have retired and demand for anesthesia services has increased while insufficient numbers of new anesthesiologists were trained, leading to a shortage, limiting surgeries and other procedures in many hospitals. The present study examined the composition of the Israeli anesthesiology workforce in 2021and compared it to the 2005 workforce. Methods: A cross-sectional survey of demographic and professional information about each Israeli hospital anesthesiologists was solicited from 34 anesthesiology department chairs responsible for 36 Israeli acute care hospitals. Results: There are 1313 anesthesiologists in the 36 hospitals, resulting in a ratio of 14.2 anesthesiologists per 100,000 population. 22.6% of anesthesiologists will reach retirement age over the next ten years. The proportion of female anesthesiologists was 28.7%. While Israeli medical school graduates increased to 18.1% from 12.2% in 2005, non-Israeli citizens and non-permanent residents comprised 8.5% of the workforce. Conclusions: Despite growth in the ratio of anesthesiologists per population, a workforce shortage is expected to worsen over the next ten years due to retirements, shortened call hours, and the Yatziv reform which bans graduates of certain overseas medical schools from obtaining Israeli Medical Licenses. The current workforce has compensated for the existing shortage of anesthesiologists by enlisting non-Israeli trainees from overseas. Yet, it is crucial to maintain and enlarge the local Israeli workforce to forestall a worsening shortage. [ABSTRACT FROM AUTHOR]

This study cuts through the pension replacement rate and aims to investigate the impact of delayed retirement on social welfare. First, this study establishes a two-period overlapping generations model and obtains the effect of delayed retirement on the replacement rate under general equilibrium conditions. Second, this paper uses actuarial and statistical methods to build a pension balance model and specifically analyzes the effect of delayed retirement on the pension replacement rate on different income groups under local equilibrium conditions. The study finds that when the contribution base and other parameters do not change, the retirement age and the replacement rate move in the same direction. When the increase in the retirement age becomes larger, the proportion of the replacement rate also increases gradually becoming larger. The increase in the range of the pension replacement rate of the high-income group is greater than for the low- and middle-income groups. [ABSTRACT FROM AUTHOR]

ObjectivesMethodsResultsConclusionsClinical ImplicationsEvidence for the association between purpose in life and cognitive health is primarily from North American and European samples. This study evaluates this association in a large sample from Malaysia, an upper-middle-income country in Southeast Asia.Participants (N = 5,579) from the Malaysian Ageing and Retirement Study reported on their purpose in life and subjective memory and were administered tasks that measured episodic memory, verbal fluency, and overall cognitive function.Purpose was associated with better subjective memory (β=.13), episodic memory (β=.06), verbal fluency (β=.12), and overall cognitive function (β=.07) (ps < .001). The associations were similar across sex and retirement status; purpose was more strongly related to subjective memory and overall cognitive function among older participants. Behavioral/social factors accounted for up to one-third of the associations, but all associations remained statistically significant.The positive association between purpose and cognition generalizes to a middle-income country in Southeast Asia. Similar to Western samples, behavioral and social factors accounted for part but not all the association. More research is needed in lower- and other middle-income countries to fully evaluate generalizability.Purpose may help support healthier cognitive aging across diverse populations and be a useful target to improve cognitive aging outcomes. [ABSTRACT FROM AUTHOR]

Despite efforts to extend careers, workers continue to withdraw from working life before reaching the old-age pension age. The complexities behind early exit decisions have been extensively studied to understand the individual factors influencing the decision-making processes. However, fewer studies have attempted to understand how underlying cultural notions of age shape these decisions. Using qualitative longitudinal interview data from Finland, this article examined how individuals in the Finnish unemployment pathway to retirement position themselves between unemployment and retirement by drawing on age-specific discourses. Findings show that early exit was framed as the least problematic career option, although colored with ambiguity and anxiety. Individuals did not view themselves as retirees, and some expressed interest in continuing work. Nevertheless, age norms together with experienced, internalized, and expected ageism pushed individuals toward exit, highlighting the need to better understand and support individuals experiencing late-life unemployment. [ABSTRACT FROM AUTHOR]

Biosocial surveys increasingly use interviewers to collect objective physical health measures (or "biomeasures") in respondents' homes. While interviewers play an important role, their high involvement can lead to unintended interviewer effects on the collected measurements. Such interviewer effects add uncertainty to population estimates and have the potential to lead to erroneous inferences. This study examines interviewer effects on the measurement of physical performance in a cross-national and longitudinal setting using data from the Survey of Health, Ageing and Retirement in Europe. The analyzed biomeasures exhibited moderate-to-large interviewer effects on the measurements, which varied across biomeasure types and across countries. Our findings demonstrate the necessity to better understand the origin of interviewer-related measurement errors in biomeasure collection and account for these errors in statistical analyses of biomeasure data. [ABSTRACT FROM AUTHOR]

Motivating older employees both to prolong their working lives and to stay active even after retirement has become increasingly important due to rising old-age dependency ratios. Later life work—including both paid work and volunteering—has thus become an important topic for scholars and practitioners. We aim to extend research on later life work by hypothesizing that psychological empowerment at work increases not only desired and actual retirement ages but also levels of later life work. Second, we test differential effects of psychological empowerment on later life work, expecting it to be more strongly related to paid work after retirement (i.e., bridge employment) than to volunteering. Third, we suggest that the relationship between psychological empowerment and bridge employment depends on the employees' level of physical limitations. We used data from a longitudinal panel study in Germany in which structured telephone interviews were conducted. A sample of older individuals who had retired between two waves of measurement was drawn (time lag: three years; n = 210). The results of a path analysis support the postulated mediation. Furthermore, as expected, psychological empowerment more accurately predicted bridge employment than volunteering, and physical limitations moderated the relationship between psychological empowerment and bridge employment. Lastly, additional analyses on the individual empowerment facets revealed that only the competence facet played a significant role in the proposed hypotheses. Overall, our findings suggest that psychological empowerment may help to increase older employees' motivation to delay retirement and to stay active even after retirement. [ABSTRACT FROM AUTHOR]

This study investigated whether the age of examiner effect, that is, the positive relation between cognitive performance of older people and age of their examiner, relies on stereotype threat. Data from the Survey of Health, Ageing and Retirement in Europe (SHARE), European Social Survey, European Statistical Office (Eurostat) and the United Nations Economic Commission for Europe were crossed. Older people from different countries were tested on verbal short‐ and long‐term recall components of memory, by examiners of different ages. Country‐specific indicators of negative age stereotypes, related to the stereotype threat mechanism, were used. We expected that the age of examiner effect would be stronger in countries with more negative age stereotypes. The results replicated the age of examiner effect, but contrary to our hypothesis, this effect was not moderated by countries’ indicators of negative age stereotypes. Negative age stereotypes across countries, such as experienced discrimination among older people, lack of active ageing index, unemployment ratio and perceived negative competence of older people decrease memory. The results are discussed in relation to stereotype threat theory. [ABSTRACT FROM AUTHOR]

Demographic ageing has influenced the well-being of the population. Issues that need to be addressed in terms of generating vulnerability in older adults (aged 60+) include social exclusion. Using the longitudinal Survey of Health, Ageing and Retirement in Europe (SHARE), this study proposes a measure of social exclusion among older adults represented by five underlying dimensions: exclusion from material resources, from social relationships, from basic services, from participation in civic activities and from neighbourhoods. This measure is then associated with individual and collective factors using a multilevel linear regression model, which captures differences between countries and individuals over three years. The main results indicate that being female, having a high level of education, and living in an urban area are significant factors in the risk of social exclusion. Additionally, trust in government has a negative association while the Gini coefficient variable and belonging to Southern and Eastern European countries have positive associations. These regions are characterised by a more family-based, dependent culture, but exclusion in old age is also reflected in different political, historical, and socio-cultural contexts over time, which makes older people less likely to be socially excluded today. [ABSTRACT FROM AUTHOR]

Formal social participation significantly impacts health and well-being, potentially mitigating cognitive decline, although not consistently across all studies. Existing research often focuses solely on baseline participation levels, and age-related differences have primarily been explored among the Asian population. Therefore, this longitudinal study aims to assess the association between formal social participation and cognition across different age groups in individuals aged 50+ living in Europe and Israel, while capturing the dynamic nature of formal social participation. We use data from three waves (four, six, and eight) of the Survey of Health, Ageing, and Retirement in Europe (SHARE), comprising 85,601 respondents. Linear mixed-effects models were applied. The results show that participation in formal social activities mitigates cognitive decline in middle-aged and older adults, especially among those aged 70 to 79 and 80+. These findings support the need for social policies promoting formal social activities, for lasting cognitive health benefits. [ABSTRACT FROM AUTHOR]

Cognitive ability is increasingly recognized as a significant factor influencing household portfolio decisions. However, different cognitive abilities, such as numeracy, fluency and recall, may yield different investment results. The aim of this paper is to empirically examine the associations of three cognitive abilities (numeracy, fluency and recall) with household portfolio composition using Survey of Health, Aging and Retirement (SHARE) data across 16 European countries and the multinomial logit model. Our empirical analyses focus on the impacts of differences in country characteristics, specifically the level of economic development and the existence of a national health system (NHS). The results indicate that numeracy and fluency have positive impacts on the decision to hold safe and relatively risky assets, as well as fully diversified portfolios in developed countries, but have no significant effects in emerging countries. Additionally, all three cognitive abilities positively influence the decision to hold fully diversified portfolios in the countries with NHS, while no significant effects are observed in the countries without NHS. Our findings reveal a decreased impact of cognitive abilities on portfolio types in the emerging countries and the non-NHS countries. Notably, a significant and positive correlation is found between the holding of no financial assets in both non-NHS countries and advanced countries. One important implication of this study is that marketing strategies of financial advisors should take into account household cognitive abilities, as well as differences in economic development among countries and the presence or absence of NHS. [ABSTRACT FROM AUTHOR]

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This paper aims to assess the return and downside risk of a decumulation portfolio established at the retirement age of a senior, with a determined lifetime horizon differentiated by the sex of the citizen. To measure the portfolio's return and downside risk, two ratios conditioned by seniors' risk attitude towards portfolio failure are employed: the downside Sortino ratio and the downside risk–return ratio. Unlike other research in the field, this manuscript provides three portfolio compositions catering to different senior investment profiles: aggressive, moderate, and conservative. Additionally, it offers a decumulation horizon conditioned by the sex-specific life expectancy of the individual, instead of offering different scenarios for conducting a sensitivity analysis. Lastly, this study was conducted across three socioeconomically distinct countries: the US, Spain, and Japan. The results clearly demonstrate that both sex and nationality significantly influence the selection of the optimal decumulation portfolio composition aimed at exhausting funds by the senior's demise. [ABSTRACT FROM AUTHOR]

Depression occurs among the elderly, leading to increased use of medical facilities, adversely affecting quality of life (QoL), and increasing mortality. Fewer studies have been conducted to explore the factors that contribute to depression among the elderly. The purpose of this study was to identify the factors that trigger depression in this population. This research used descriptive analysis with a cross-sectional design. A total of 247 participants completed a questionnaire containing socio-demographic information and the geriatric depression scale-15 (GDS-15). The data were analyzed for correlation using the chi-square test. There was a significant relationship between insurance and occupation and depression in rural communities in Central Java, Indonesia. Insurance and occupation influence elderly individuals’ preparation for old age, ensuring they have sufficient finances through old age savings, which enables them to be financially secure. The population needs to prepare for old age by calculating their retirement fund requirements, saving and investing, and obtaining insurance for pension and health fund protection. [ABSTRACT FROM AUTHOR]

Background. Civil aviation comprises airlines/charters and general aviation (GA). Currently, airlines are experiencing a pilot shortage, partly reflecting scheduled retirements mandatory for airline (but not GA) pilots aged 65 years, fueling a debate as to whether the retirement age should be increased. Herein, using 16–40 years-of-age aviators as a reference, we determined whether GA pilots aged 60+ years (i) incurred an elevated accident rate, employing, for the first time, age-tiered flight time as a measure of risk exposure and (ii) carried an excess risk for cognitive deficiency-related fatal accidents. Methods. Airplane accidents (2002–2016) involving Class 3 medical certificated pilots were per the National Transportation Safety Board (NTSB) databases. Age-tiered pilot risk exposure represented a summation of flight hours per Class 3 medical applications. Cognitive decline measures were per NTSB field codes. Statistical analyses employed Chi-Square, Mann–Whitney, logistic regression, and binomial tests. Results. Using flight hours as the denominator, the fatal accident rate for older pilots (41–80 years) was unchanged compared with aviators aged 16–40 years. In the logistic regression, no cognitive deficiency measure was predictive (p = 0.11, p = 0.15) for pilots aged 61+ years who were involved in fatal accidents. Conclusion. These findings question the necessity of an automatic disqualification of air transport pilots at 65 years of age. [ABSTRACT FROM AUTHOR]

This paper investigates the changes in costs and employment at establishment level since 2013 when the mandatory retirement age was raised to 60. A simple difference in difference estimation suggests that labor costs have increased, employment has decreased in large firms and new hire has decreased among smaller firms. Salary-peak system was found to have mitigated the upward pressure on labor costs among small firms but no discernible effects were found for employment or new hire. [ABSTRACT FROM AUTHOR]

This paper studies the effect of an increase in the work horizon of middle aged workers on the school-work transition of their offsprings aged 15–29 years. I exploit the variation in the parental work horizon induced by the 2012 Fornero reform in Italy that abruptly changed the age and years of social security contribution requirements for pension eligibility. Utilising a difference-in-difference strategy in a multi-valued treatment setting, the study shows that the reform-induced increase in the work horizon of mothers caused an increase in the probability of their offsprings seeking their first job and a decrease in these offsprings' probability of being a student. This effect is higher among offsprings who are male, those aged 15–21, those with mothers without a University degree and those in southern Italy. Fathers did not significantly affect the student status or any labour market outcomes of their offsprings. Mechanisms behind these findings include the longer reform-induced work horizon for mothers vs. fathers, and the consequent positive effect on mothers' lifetime earnings. [ABSTRACT FROM AUTHOR]

We analyze individual annuitization decisions at retirement in an environment with mandatory participation in a funded pension pillar and low average annuity price. Using administrative data from a large Swiss insurance company over the period 2011–2015, we document that, even in this favorable environment, only 42.7% of the retirees fully annuitize, against 45% taking full lump sum. We show that individual annuitization decisions strongly respond to financial incentives, measured by the Money Worth Ratio, and to the tax rates on annuity and lump‐sum payments. Lump‐sum payments are more common among French‐ and Italian‐speaking individuals. Using Survey of Health, Ageing and Retirement in Europe data, we show that French‐ and Italian‐speaking Swiss are more likely to leave inheritance—thus suggesting that preferences for bequests may affect annuitization decisions. Finally, we provide evidence of asymmetric information, using the unused observable test, to show that individuals living in high mortality municipalities are less likely to annuitize and more likely to cash out their pension wealth. [ABSTRACT FROM AUTHOR]