Sex-specific equivalent retirement ages: 1940-2050

Area of Science:

• Demography
• Gerontology
• Public Policy

Background:

• Significant sex differences exist in life expectancy at older ages.
• Previous analyses of retirement age equity have not fully accounted for these sex-based disparities.
• Future projections of life expectancy necessitate updated considerations for retirement age policies.

Purpose of the Study:

• To present and analyze four distinct measures of equivalent retirement ages.
• To examine the equity implications of increasing retirement ages, specifically addressing sex differences.
• To provide data-driven insights for policymakers regarding retirement age adjustments.

Main Methods:

• Development of four novel measures for equivalent retirement ages.
• Application of these measures to demographic data from 1940 to 2050.
• Separate analysis of measures for men and women to account for life expectancy variations.
• Differential allocation of life expectancy improvements between labor force and retirement periods.

Main Results:

• Different measures yield varying implications for retirement age equity between sexes.
• Improvements in life expectancy at retirement impact men and women differently under various allocation scenarios.
• The choice of measure significantly influences the perceived fairness of adjusted retirement ages.

Conclusions:

• While separate retirement age schedules for men and women may not be advisable, acknowledging sex-based life expectancy differences is crucial.
• A middle-range choice in retirement age policy, informed by sex-specific life expectancy, offers a more equitable approach.
• Policy decisions on retirement age should integrate demographic trends and sex-specific longevity data for fairness.