Women’s Timing of Receipt of Social Security Retirement Benefits

Gillen, Martie; Heath, Claudia J.

doi:10.1007/s10834-013-9374-z

Cited by 8 publications

(4 citation statements)

References 7 publications

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“…Independently of marital status and personal wealth, women live longer and to ensure decent living standards they should make conscious decisions related to their retirement plans. Gillen and Heath (2014) stress that retirement self-education is a life-long necessity, enabling women to plan and make rational decisions -this is also visible in our results.…”

Section: Discussionsupporting

confidence: 66%

An Attempt to Measure and Model Women’s Attitudes to Saving for Retirement

Hernik

Sagan

2023

Folia Oeconomica Stetinensia

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Research background Because of the convergence of demographic, political, and economic trends, retirement has become a significant stage of human life, which currently requires thoughtful and careful planning. Therefore, social pension schemes – a type of system under which the benefits are being provided – and women’s individual saving decisions should give consideration to the fact that it is necessary to accumulate additional funds which should be sufficient for several decades after retirement. Purpose Social pension schemes are widely discussed in all European countries, and in this context we can pose the following question: What is it exactly that makes women save for retirement? This paper has two objectives: to identify the factors that encourage women to save and to measure these factors and develop a model which shows correlations. Research methodology A questionnaire survey was used for collecting the primary data. Subsequently, the analysis is based on 4 indexes created for the purposes of this paper. Then, the indexes were estimated on the basis of the unidimensional two-parameter IRT model, rho and CR coefficients, and multiple-group logistic regression analysis. Novelty The conducted calculations lead to the conclusion that regardless of age, several factors are statistically significant for the whole analysed group, e.g. a place of residence. This is the first paper that shows determinants important for women when it comes to saving for retirement.

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Section: Discussionsupporting

confidence: 66%

An Attempt to Measure and Model Women’s Attitudes to Saving for Retirement

Hernik

Sagan

2023

Folia Oeconomica Stetinensia

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“…It is also important to understand income sources during retirement; Social Security benefits are a significant income source for retirees (Dushi et al, 2017 ). Those with lower earnings are more likely to file early and receive a reduced Social Security benefit (Gillen & Heath, 2014 ). These considerations allow for calculating retirement needs and an optimal savings rate required to reach that goal; however, most people use heuristics rather than calculations (Bernartzi & Thaler, 2007 ).…”

Section: Review Of Literaturementioning

confidence: 99%

Skint: Retirement? Financial Hardship and Retirement Planning Behaviors

2021

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This study used data from the 2018 National Financial Capability Study to investigate the association between financial hardship and retirement planning behaviors. Results from logistic regressions showed that respondents with high difficulty making ends meet were more likely to calculate retirement needs and more likely to own a non-employer sponsored retirement plan. The perceived over-indebtedness was positively associated with owning an employer-sponsored account while negatively associated with owning a non-employer-sponsored account. Financial fragility was associated with a lower likelihood of calculating retirement needs and having a retirement account. The results of additional generational analyses revealed that the difficulty making ends meet and the perceived over-indebtedness showed different patterns with retirement planning behavior across three generations. In contrast, financial fragility showed consistent and negative associations with the retirement planning behaviors across generations.

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“…First, divorced and never-married women represent a growing share of the elderly population (Tamborini, 2007; Tamborini & Whitman, 2010). Research has shown a strong relationship between marital history and economic resources among older women (Wilmoth & Koso, 2002; Zissimopoulos et al, 2015), including their life-course earnings trajectories (Couch, Tamborini, Reznik, & Phillips, 2013; Tamborini, Couch, & Reznik, 2015), Social Security claiming behavior (Couch et al, 2013; Gillen & Heath, 2014), and health (Hughes & Waite, 2009; Tamborini, Reznik, & Couch, (2016); Wood, Goesling, & Avellar, 2007).…”

Section: Literature Reviewmentioning

confidence: 99%

The Distributional Impact of Social Security Policy Options

et al. 2016

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Using microsimulation, we estimate the effects of three policy proposals that would alter Social Security's eligibility rules or benefit structure to reflect changes in women's labor force activity, marital patterns, and differential mortality among the aged. First, we estimate a set of options related to the duration of marriage required to receive divorced spouse and survivor benefits. Second, we estimate the effects of an earnings sharing proposal with survivor benefits, in which benefits are based entirely on earned benefits with spouses sharing their earnings during years of marriage. Third, we estimate the effects of adjusting benefits to reflect the increasing differential life expectancy by lifetime earnings. The results advance our understanding of the distributional effects of these alternative policy options on projected benefits and retirement income, including poverty and supplemental poverty status, of divorced and widowed women aged 60 or older in 2030.

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Women’s Timing of Receipt of Social Security Retirement Benefits

Cited by 8 publications

References 7 publications

An Attempt to Measure and Model Women’s Attitudes to Saving for Retirement

An Attempt to Measure and Model Women’s Attitudes to Saving for Retirement

Skint: Retirement? Financial Hardship and Retirement Planning Behaviors

The Distributional Impact of Social Security Policy Options

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