How Do Subjective Longevity Expectations Influence Retirement Plans?

Abstract

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Factors Associated With Subjective Life Expectancy: Comparison With Actuarial Life Expectancy

“…An extensive literature has documented the ways in which SLE affects individuals’ behavior. SLE has a strong effect on intended retirement age [ 6 - 8 ], even after controlling for demographic factors such as gender, age, income, education, health, marital status, and family longevity [ 9 ]. Increasing the length of life creates assurances about the future by reinforcing healthy habits [ 3 ].…”

The experience of the transition to retirement: Rapid evidence review

“…In general, the findings show that those who expect to live longer also expect to retire later (Solinge and Henkens 2010). Khan, Rutledge and Wu (2014) found that American workers who think they have excellent chances of living to ages 75 and 85 expect to work longer and retire later than workers who think their chances of living to these ages are poor. To a large extent, this fits with the results of a similar study of the impact on retirement expectations of people's perceptions of their chances of living until age 75 or age 80 in England (O'Donnell, Teppa and van Doorslaer 2008), in which a concave, non-linear relationship was seen.…”

Extending Working Life: Which Competencies are Crucial in Near-Retirement Age?

“… Psychological barriers: a lack of motivation, low work ethic, low self-esteem, and lack of good work habits in the case of persons who have been unemployed for a long period of time (Determinanty… 2010 ; Claes and Heymans 2008 ; Groot and Brink 1999 ). Demographic features, especially sex (women are under pressure to stay unemployed when they do the housekeeping or take care of the home, children, and sick people, which encourages their earlier retirement); education (better-educated people are more likely to be employed, regardless of other limitations); place of residence (which is related to the availability of job offers); and age (Woszczyk 2011 ; Silcock 2012 ; Contreras et al 2013 ; Kryńska et al 2013 ; Naegele and Bauknecht 2013 ; Humphrey et al 2003 ; Khan et al 2014 ; Wiktorowicz 2014 ). Health (which deteriorates with age), and physical and mental exhaustion (Rzechowska 2010 ; Maitland 2010 ; Kryńska et al 2013 ; Naegele and Bauknecht 2013 ; Phillipson and Smith 2005 ).…”

“…Demographic features, especially sex (women are under pressure to stay unemployed when they do the housekeeping or take care of the home, children, and sick people, which encourages their earlier retirement); education (better-educated people are more likely to be employed, regardless of other limitations); place of residence (which is related to the availability of job offers); and age (Woszczyk 2011 ; Silcock 2012 ; Contreras et al 2013 ; Kryńska et al 2013 ; Naegele and Bauknecht 2013 ; Humphrey et al 2003 ; Khan et al 2014 ; Wiktorowicz 2014 ).…”