Embedded Career Clocks: The Case of Retirement Planning

Moen, Phyllis; Sweet, Stephen; Swisher, Raymond R.

doi:10.1016/s1040-2608(04)09009-4

Cited by 58 publications

(50 citation statements)

References 34 publications

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“…For example, women have shown to be more influenced by their partners' resources and retirement expectations than vice versa (Pienta and Hayward 2002). This finding has been confirmed by Moen et al (2005), who also conclude that women tend to adapt themselves more to their spouses' retirement plans. Men, on the other hand, tend to plan their retirement irrespective of their wives retirement expectations.…”

Section: Literature Reviewmentioning

confidence: 75%

Determinants for the transition from work into retirement in Europe

2015

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We use the labor force ad hoc module "transition from work into retirement" to analyze the link between individual as well as pension system characteristics and planned retirement age within the European Union. We find that timing of retirement is correlated between partners who are, already at the stage of retirement planning. In richer countries of the EU15, standard retirement age seems to have a larger effect on planned retirement age than in poorer EU15 states or in new EU member states. The effect of pension wealth is largest in the new EU member states and smallest in rich EU15 countries. Furthermore, industry and occupation effects differ by country type.JEL codes: C21; J22; J26

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Section: Literature Reviewmentioning

confidence: 75%

Determinants for the transition from work into retirement in Europe

2015

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“…Yet the cliff edge model of retirement tends to be entrenched in social and organisation policies and became normatively defined in the 20 th century (Moen et al, 2005). Alternative perspectives propose that retirement should be a 'transitional' process between a state of 'work' and nonwork.…”

Section: Normal Retirement Age 1 Introductionmentioning

confidence: 99%

Psychological and psychosocial predictors of attitudes to working past normal retirement age

Davies

Cartwright

2011

Employee Relations

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Purpose -This research aims to look at preferences for retirement, in particular, later retirement, amongst a sample of older employees in the UK in the financial services industry. It seeks to investigate specifically the influence of personal, psychological and psychosocial determinants of preferences for retiring later. Additionally, the study presents a typology of different retirement preferences based on psychological and psychosocial variables. Design/methodology/approach -The data are based on questionnaires from 556 employees of a UK financial services organisation (aged 40-60) and measures include psychological expectations of retirement (expected adjustment to retirement, attitudes towards leisure and social interaction), psychosocial attitudes ( job satisfaction, intrinsic motivation, organisational comment and work commitment) and attitudes towards working beyond normal retirement age. Hierarchical multiple regression analyses were conducted and one-way ANOVA was conducted to identify differences between groups. Findings -The data show very negative attitudes towards working later than the normal retirement age and that expectations of adjustment to retirement were the most significant predictor towards retirement preferences, followed by work commitment. Significant differences in retirement attitudes and intentions were found between different groups of employees. Practical implications -Some of the practical implications of the work suggest that retirement preferences are shaped only to a moderate degree by psychosocial attitudes. In seeking to retain older workers in the workforce for longer employers should encourage employees to develop strong social relationships at work and allow gradual transitions to ultimate retirement. Originality/value -The paper looked at preferences for retirement, particularly later retirement, and found that, if employers wish to retain the knowledge, skills and expertise of their employees, then it would seem that they need to devise means of allowing people to achieve some of the more desirable aspects of retirement (greater free time, opportunity to pursue hobbies and interests) at the same time as retaining some of the benefits of work (status, professional interest, income etc.). Phased and flexible retirement initiatives therefore seem to be one of the solutions.

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“…Women who live with a partner are, however, a heterogeneous group in terms of their household situation. In line with the notion of 'linked lives', various studies have shown that women's retirement is related to the characteristics (e.g., Denaeghel et al 2011;Pienta 2003;Szinovacz and DeViney 2000) -such as age, health, and income -and retirement transition of the spouse (e.g., Henretta et al 1993;Moen et al 2005;Smith and Moen 1998;Szinovacz 2002). We hypothesize that (a) women who are married or cohabit with a partner in preretirement years (intend to) retire earlier than women who do not live with a partner (Hypothesis 4a) and (b) women are more likely to (intend to) retire early if their partner is relatively old, less healthy, earns more, and intends to retire early (Hypothesis 4b).…”

Section: Marital Histories and Retirement Timingmentioning

confidence: 90%