Financial Reasons for Working beyond the Statutory Retirement Age: Risk Factors and Associations with Health in Late...

Area of Science:

• Gerontology
• Public Health
• Socioeconomics

Background:

• Working life prolongation is increasing globally.
• Factors driving work beyond statutory retirement age (SRA), particularly financial reasons, are not well understood.
• The relationship between reasons for extended work and health outcomes in later life requires investigation.

Purpose of the Study:

• To identify determinants of working beyond SRA.
• To explore self-reported reasons for working beyond SRA.
• To examine the association between these reasons and health in late life.

Main Methods:

• Analysis of cross-sectional data from 1241 individuals.
• Utilized the Swiss survey "Vivre/Leben/Vivere".
• Investigated socioeconomic factors, reasons for working beyond SRA, and self-rated health.

Main Results:

• Low education and income significantly increase the risk (80%) of working beyond SRA for financial reasons.
• Self-rated health was not significantly linked to working beyond SRA for financial reasons.
• Self-rated health showed significant associations with education and income.

Conclusions:

• Socioeconomic factors, specifically low education and income, are critical determinants for working beyond SRA due to financial necessity.
• Public policy interventions are needed to support vulnerable older workers and promote their health.
• Understanding these socioeconomic links is crucial for effective social policy adaptation.