Does early retirement lead to longer life?

Associations of early retirement and mortality risk: a population-based study in Taiwan

BACKGROUND

Early retirement is highly prevalent in Taiwan. This study assesses the association between early retirement and all-cause and cause-specific mortality risks while exploring the modifying effect of sociodemographic factors.

METHODS

Using Taiwan's National Health Insurance Research Database between 2009 and 2019, 1 762 621 early retirees aged 45-64 and an equal number of employed comparators were included. The date and cause of death were identified using the National Death Registry. Cox regression models were used to estimate HRs of early retirement for all-cause mortality and cause-specific mortality. To explore modifying effects, we conducted subgroup analyses based on age groups, sexes, occupation types and general health status (Charlson Comorbid Index score).

RESULTS

The analysis revealed that early retirees, compared with their concurrently employed counterparts, had a higher mortality risk (adjusted HR (aHR) 1.69, 95% CI (1.67 to 1.71)). Specifically, younger individuals (aged 45-54) (aHR 2.74 (95% CI 2.68 to 2.80)), males (aHR 1.78 (95% CI 1.76 to 1.81)), those in farming or fishing occupations (aHR 2.13 (95% CI 2.06 to 2.21)) or the private sector (aHR 1.92 (95% CI 1.89 to 1.96)), and those with the poorest health conditions (aHR 1.79 (95% CI 1.76 to 1.83)) had higher mortality risks of early retirement. Regarding specific causes of death, the top three highest risks were associated with gastrointestinal disorders, followed by suicide and neurological disorders.

CONCLUSIONS

This study underscores the substantial mortality risk increase linked to early retirement, emphasising the importance of policy considerations, particularly regarding vulnerable populations and specific causes of death potentially linked to unhealthy lifestyles.

Association between retirement and mortality: working longer, living longer? A systematic review and meta-analysis

Aim

This study summarised available evidence on the association between early and on-time retirement, compared with continued working, and mortality. Moreover, this study investigated whether and to what extent gender, adjustment for demographics and prior health status influence this association.

Methods

A systematic literature search of longitudinal studies was conducted. A qualitative analysis of the included studies was performed, followed by a meta-regression analysis to assess the influence of gender, prior health and demographics. Random-effects models were used in a meta-analysis to estimate the pooled effects for relevant subgroups identified in the meta-regression.

Results

In total, 25 studies were included. Adjustment for prior health and demographics influenced the association between retirement and mortality (p<0.05). The results of the meta-analysis of 12 studies are presented for ‘insufficiently adjusted’ and ‘fully adjusted’ subgroups. There was no association between early retirement and mortality compared with working until retirement (fully adjusted subgroup: HR 1.05, 95% CI 0.87 to 1.28). On-time retirement was associated with a higher risk of mortality compared with working beyond retirement (insufficiently adjusted subgroup: HR 1.56, 95% CI 1.41 to 1.73). However, in the subgroup that adjusted for prior health, on-time retirement was not associated with mortality (HR 1.12, 95% CI 0.98 to 1.28).

Conclusion

Early retirement was not associated with a higher risk of mortality. On-time retirement was associated with a higher risk of mortality, which might reflect the healthy worker effect. It is important to consider information on prior health and demographics when studying the association between retirement and mortality to avoid biased findings.

When is quitting an escape? How different job demands affect physical and mental health outcomes of retirement

Background

The demographic aging of societies and the need to adapt to this trend makes it important to gain insight into the way retirement affects different forms of health, and factors that influence this relationship. Pre-retirement job characteristics have only rarely been included in this type of research.

Methods

The regressor variable method is applied to two waves (4 and 5) of data from the Survey of Health Ageing and Retirement in Europe, a multi-national prospective cohort study. The final sample consists of 9092 people aged 50-70 at wave 4, of whom 1257 retired voluntarily. Health is assessed through the presence of physical health problems, general self-rated health and the EURO-D scale for depressive symptoms.

Results

The findings indicate that retirement from jobs with high physical demands leads to a relative improvement in general self-rated health compared with those who remain at work. Retirement from a psychologically demanding job is associated with less depressive symptoms. No effects are found for health measured as the presence of physical health problems.

Conclusion

Different types of measures for health yield different results for outcomes of retirement; pre-retirement job demands play an important role in how retirement affects health; physical demands seem primarily related to physical health benefits, psychological demands seem primarily related to mental health benefits.

Multiple Social Identities Enhance Health Post-Retirement Because They Are a Basis for Giving Social Support

We examine the extent to which multiple social identities are associated with enhanced health and well-being in retirement because they provide a basis for giving and receiving social support. Results from a cross-sectional study show that retirees (N = 171) who had multiple social identities following (but not prior to) retirement report being (a) more satisfied with retirement, (b) in better health, and (c) more satisfied with life in general. Furthermore, mediation analyses revealed an indirect path from multiple social identities to greater satisfaction with retirement and better health through greater provision, but not receipt, of social support to others. These findings are the first to point to the value of multiple group membership post-retirement as a basis for increased opportunities to give meaningful support to others. We discuss the theoretical and practical implications for the management of multiple identities in the process of significant life transitions such as retirement.

Association of retirement age with mortality: a population-based longitudinal study among older adults in the USA

BACKGROUND

Retirement is an important transitional process in later life. Despite a large body of research examining the impacts of health on retirement, questions still remain regarding the association of retirement age with survival. We aimed to examine the association between retirement age and mortality among healthy and unhealthy retirees and to investigate whether sociodemographic factors modified this association.

METHODS

On the basis of the Health and Retirement Study, 2956 participants who were working at baseline (1992) and completely retired during the follow-up period from 1992 to 2010 were included. Healthy retirees (n=1934) were defined as individuals who self-reported health was not an important reason to retire. The association of retirement age with all-cause mortality was analysed using the Cox model. Sociodemographic effect modifiers of the relation were examined.

RESULTS

Over the study period, 234 healthy and 262 unhealthy retirees died. Among healthy retirees, a 1-year older age at retirement was associated with an 11% lower risk of all-cause mortality (95% CI 8% to 15%), independent of a wide range of sociodemographic, lifestyle and health confounders. Similarly, unhealthy retirees (n=1022) had a lower all-cause mortality risk when retiring later (HR 0.91, 95% CI 0.88 to 0.94). None of the sociodemographic factors were found to modify the association of retirement age with all-cause mortality.

CONCLUSIONS

Early retirement may be a risk factor for mortality and prolonged working life may provide survival benefits among US adults.

Does retirement age impact mortality?

The relationship between retirement and mortality is studied with a unique administrative data set covering the full population of Norway. A series of retirement policy changes in Norway reduced the retirement age for a group of workers but not for others. Difference-in-differences estimation based on monthly birth cohorts and treatment group status show that the early retirement programme significantly reduced the retirement age; this holds true also when we account for programme substitution, for example into the disability pension. Instrumental variables estimation results show no effect on mortality of retirement age; neither do estimation results from a hazard rate model.

Do Not Go Gentle Into That Good Night: The Effect of Retirement on Subsequent Mortality of U.S. Supreme Court Justices, 1801–2006

Mortality hazard and length of time until death are widely used as health outcome measures and are themselves of fundamental demographic interest. Considerable research has asked whether labor force retirement reduces subsequent health and its mortality measures. Previous studies have reported positive, negative, and null effects of retirement on subsequent longevity and mortality hazard, but inconsistent findings are difficult to resolve because (1) nearly all data confound retirement with unemployment of older workers, and often, (2) endogeneity bias is rarely addressed analytically. To avoid these problems, albeit at loss of generalizability to the entire labor force, I examine data from an exceptional subgroup that is of interest in its own right: U.S. Supreme Court justices of 1801–2006. Using discrete-time event history methods, I estimate retirement effects on mortality hazard and years-left-alive. Some substantive and methodological considerations suggest models that specify endogenous effects estimated by instrumental variables (IV) probit, IV Tobit, and IV regression methods. Other considerations suggest estimation by endogenous switching (ES) probit and ES regression. Estimates by all these methods are consistent with the hypothesis that, on average, retirement decreases health, as indicated by elevated mortality hazard and diminished years-left-alive. These findings may apply to other occupational groups characterized by high levels of work autonomy, job satisfaction, and financial security.

[The transition towards retirement: adaptation of the Retirement Satisfaction Inventory scale in a Spanish sample of early-pensioners]

OBJECTIVES

This study provides psychometric data for the Spanish adaptation of the scale of Retirement Satisfaction Inventory (RSI). We explore the factor structure and psychometric properties a sample of Spanish early retirees. RSI measures the motivation to retirement, satisfaction with life in retirement and leisure activities.

MATERIAL AND METHODS

The RSI scale (Floyd et al, 1992) was applied to a sample of 638 Spanish early-pensioners with a mean age of 61.28 (SD: 5.77) years and a mean age at early retirement of 53.89 years (SD: 2.71). An exploratory factorial analysis was performed using the SPSS statistics package, and a confirmatory factorial using the AMOS 6.0 module. The data collection process was carried out by means of the questionnaires by post method.

RESULTS

The adaptation of the RSI to Spanish showed a three-scale structure:: the reasons for retirement, satisfaction with life in retirement, and leisure activities. These scales showed a structure with four, two and three main factors, respectively, which differ slightly from those reported in the original instrument.The confirmatory factorial analysis demonstrated the optimum fit of the model for the three scales.

CONCLUSIONS

The RSI adaptation to Spanish provides a tool that could asses the motivation towards retirement during the leaving work process, satisfaction with retirement life, and the leisure sources in the Spanish early retired population.

The effect of retirement and age at retirement on self-perceived health after three years of follow-up in Dutch 55–64-year-olds

Health consequences of retirement have not been included in the current public debate about increasing the age at retirement, which might be due to the fact that studies aimed at health consequences of retirement show ambiguous results. The literature indicates that various contextual characteristics might explain conflicting results. The current study examines the effect of retirement and age at retirement (55–64 years) on self-perceived health. Characteristics tested for confounding and effect modification were: demographic, health, psychological, job, and retirement characteristics. Subjects were 506 participants in the Longitudinal Aging Study Amsterdam (LASA). After three years, 216 retired and 290 remained employed. Multinomial logistic regression analyses show no main effect for retirement compared to continued employment. Modal (59–60) retirees were more likely to attain excellent or good self-perceived health (less than good self-perceived health as the reference category). Early (55–58) and late (61–64) retirees were unaffected by retirement if they did not receive a disability pension. Early and late retirees who received a disability pension were less likely to attain excellent self-perceived health after retirement. Higher educated were less likely to attain excellent self-perceived health after retirement, especially at late retirement age, although health selection might explain this result. Finally, mastery possibly acts as an adjustment resource. The paper concludes with a discussion on explanations for the effect of retirement and age at retirement.

Time to retire--time to die? A prospective cohort study of the effects of early retirement on long-term survival

In a long-term prospective cohort study we try to assess selective and protective impacts of early retirement on life expectancy. The results are based on the members of a compulsory German health insurance fund (Gmünder Ersatzkasse). We analyzed 88,399 men and 41,276 women who retired between the ages of 50 and 65 from January 1990 to December 2004. Our main outcome measures are hazard ratios for death adjusted for age, sex, marital and socioeconomic status, year of observation, age at retirement, hospitalization, and form of retirement scheme. We found a significantly higher mortality risk among pensioners with reduced earning capacities than among old-age pensioners who either left the labor market between the ages of 56 and 60 or between 61 and 65. The youngest male and female pensioners who left the labor market between the ages of 51 and 55 because of their reduced earning capacity faced the highest mortality risk. But healthy people who retire early do not experience shorter long-term survival than those who retire late. On the contrary, if we take into consideration the amount of days spent in hospital during the last 2 years prior to retirement, early retirement in fact lowers mortality risks significantly by 12% for men and by 23% for women. Thus with respect to mortality, early retirement reflects both selective and protective processes. First of all, individuals with poor health and lower survival chances are filtered out of the labor market. However, healthy pensioners may be protected during retirement. For the former, early retirement is a necessity, for the latter it is an asset. Pension reformers should take health differentials into consideration when cutting back pension programs and increasing retirement age.