Financial Reasons for Working beyond the Statutory Retirement Age: Risk Factors and Associations with Health in Late Life
Abstract
:1. Introduction
2. Materials and Methods
2.1. Study Design and Data
2.2. Measures
2.2.1. Outcomes
2.2.2. Covariates
2.3. Statistical Analyses
3. Results
3.1. Participants’ Characteristics
3.2. Reasons for Working beyond the SRA
3.3. Factors Associated with Working beyond the SRA
3.4. Factors Associated with Self-Rated Health
4. Discussion
5. Conclusions
Supplementary Materials
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
References
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Total (100%, N = 1241) | Retirement after the SRA (6.6%, n = 82) | |||
---|---|---|---|---|
Variables | % | N | % | N |
Sex | ||||
Women | 42.8 | 531 | 37.8 | 31 |
Men | 57.2 | 710 | 62.2 | 51 |
Education level | ||||
<Secondary education | 14.1 | 175 | 7.3 | 6 |
Secondary education | 58.3 | 723 | 53.7 | 44 |
Tertiary education | 27.6 | 343 | 39.0 | 32 |
Occupational groups | ||||
Higher non-manual | 32.8 | 407 | 50.0 | 41 |
Lower non-manual | 48.2 | 598 | 36.6 | 30 |
Manual | 19.0 | 236 | 13.4 | 11 |
Household income | ||||
<6000 CHF | 43.2 | 536 | 42.7 | 35 |
6000–10,000 CHF | 47.6 | 591 | 43.9 | 36 |
>10,000 CHF | 9.2 | 114 | 13.4 | 11 |
Self-rated health | ||||
Poor | 1.0 | 12 | 1.2 | 1 |
Rather poor | 5.6 | 69 | 6.1 | 5 |
Satisfactory | 31.5 | 389 | 23.2 | 19 |
Good | 48.5 | 598 | 56.1 | 46 |
Very good | 13.5 | 166 | 13.8 | 11 |
Age in years, mean (SD) | 72.5 (4.4) | 73.3 (3.8) |
Ref = Retirement at the SRA | Retirement before the SRA | Retirement after the SRA | ||
---|---|---|---|---|
Variables | Coeff. | SE a | Coeff. | SE a |
Gender (ref = women) | ||||
Men | 0.496 *** | (0.140) | 0.189 | (0.259) |
Education level (ref = < secondary education) | ||||
Secondary education | 0.028 | (0.191) | 0.580 | (0.455) |
Tertiary education | −0.325 | (0.231) | 0.700 | (0.503) |
Occupational groups (ref = higher non-manual) | ||||
Lower non-manual | 0.115 | (0.159) | −0.578 ** | (0.280) |
Manual | −0.271 | (0.199) | −0.765 * | (0.396) |
Income (ref = < 6000 CHF) | ||||
6000–10,000 CHF | 0.822 *** | (0.138) | 0.061 | (0.272) |
>10,000 CHF | 0.805 *** | (0.240) | 0.303 | (0.416) |
Age | −0.138 | (0.208) | −0.036 | (0.364) |
Age2 | −0.0004 | (0.0003) | 0.0001 | (0.0005) |
Constant | 1.572 | (1.179) | −2.795 | (2.072) |
N | 1241 | |||
Pseudo R-square | 0.057 |
Reasons | % | N |
---|---|---|
Financial reasons (total) | 23.0 | 19 |
Financially necessary | 10.0 | 8 |
Supplement pension | 13.0 | 11 |
Offer/request from employer (total) | 28.0 | 23 |
Being needed in the workplace | 26.0 | 21 |
Skills are valued in the workplace | 2.0 | 2 |
Self-employed/new job (total) | 17.0 | 14 |
Self-employment | 13.0 | 11 |
Started new position | 4.0 | 3 |
Personal/social reasons (total) | 30.0 | 26 |
Good health | 2.0 | 2 |
Partner still working | 1.0 | 1 |
Importance of social contacts | 1.0 | 1 |
Likes the work | 24.0 | 20 |
Employment is good for you | 1.0 | 1 |
Has found a new challenge | 1.0 | 1 |
Self-Rated Health | ||
---|---|---|
Coef. | SE a | |
Reason for working beyond the SRA (ref = financial) | ||
Offer/request from employer | −0.099 | (0.283) |
Self-employment/new job | 0.118 | (0.297) |
Personal/social | 0.110 | (0.236) |
Gender (ref = women) | ||
Men | 0.055 | (0.189) |
Education level (ref = < secondary education) | ||
Secondary education | 0.919 ** | (0.330) |
Tertiary education | 1.295 ** | (0.385) |
Occupation groups (ref = higher non-manual) | ||
Lower non-manual | 0.222 | (0.216) |
Manual | −0.110 | (0.334) |
Income (ref = < 6000 CHF) | ||
6000–10,000 CHF | −0.817 ** | (0.239) |
>10,000 CHF | −0.237 | (0.221) |
Age | −0.443 | (0.311) |
Age2 | 0.000 | (0.000) |
Constant | 3.209 * | (1.567) |
N | 82 | |
R2 | 0.333 |
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Burkhalter, D.; Wagner, A.; Feer, S.; Wieber, F.; Ihle, A.; Baumann, I. Financial Reasons for Working beyond the Statutory Retirement Age: Risk Factors and Associations with Health in Late Life. Int. J. Environ. Res. Public Health 2022, 19, 10505. https://doi.org/10.3390/ijerph191710505
Burkhalter D, Wagner A, Feer S, Wieber F, Ihle A, Baumann I. Financial Reasons for Working beyond the Statutory Retirement Age: Risk Factors and Associations with Health in Late Life. International Journal of Environmental Research and Public Health. 2022; 19(17):10505. https://doi.org/10.3390/ijerph191710505
Chicago/Turabian StyleBurkhalter, Denise, Aylin Wagner, Sonja Feer, Frank Wieber, Andreas Ihle, and Isabel Baumann. 2022. "Financial Reasons for Working beyond the Statutory Retirement Age: Risk Factors and Associations with Health in Late Life" International Journal of Environmental Research and Public Health 19, no. 17: 10505. https://doi.org/10.3390/ijerph191710505