Employment Trajectories Beyond Retirement

Area of Science:

• Sociology
• Economics
• Gerontology

Background:

• The political and academic discourse on extending working lives increasingly focuses on post-retirement employment as a strategy.
• Maintaining older workers in the labor market is a key objective for economic and social policy.

Purpose of the Study:

• This study investigates the factors influencing transitions into post-retirement jobs among specific birth cohorts (1940-1942).
• It examines how different work environments shape these transitions.
• The research aims to understand the motivations behind post-retirement employment decisions.

Main Methods:

• Proportional subhazard models were employed to account for competing risks.
• Unique German social security data, linked with pension accounts, was utilized for the analysis.

Main Results:

• Individual preferences for post-retirement jobs are not mutually exclusive.
• Key determinants for taking up post-retirement employment include the pursuit of financial security, job continuity, and perceived work ability.
• These factors vary across different peer groups within the labor market.

Conclusions:

• Public policy should implement targeted support measures for older workers.
• A mix of policies, tailored to distinct peer groups, is necessary to facilitate successful transitions into post-retirement employment.
• Addressing financial security, continuity, and work ability are crucial for policy interventions.