Retirement Effects, Quality of Life

Steiber, NadiaORCID: (2014) Retirement Effects, Quality of Life. In: Michalos, Alex C., (ed.) Encyclopedia of Quality of Life and Well-Being Research. Dordrecht: Springer Science+Business Media, pp. 5555-5559.

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This entry is concerned with the impact of the transition from work to retirement on the QoL of individuals. Retirement in this entry refers to the commencement of the stage in a person's life course in which he/she is no longer gainfully employed (full retirement), although gradual retirement (involving work hour reductions and phasing into retirement) will also be considered. Moreover, we differentiate between regular retirement at the standard age for retirement and early retirement. The eligibility ages for public old-age benefits vary across countries and in some countries also between women and men. Pensionable age is defined by the OECD (2011) as the age at which people can first draw full benefits (i.e. without actuarial reduction for early retirement). In many countries, it is identical to the normal pension age set out in legislation. In others, it is possible to retire earlier than the normal age without an "actuarial" reduction in pension benefits (given a long duration of benefit payment and fulfilment of contribution requirements). Finally, some countries do not have a normal pension age, but define a corridor (i.e. a range of ages) at which the pension may first be drawn. Pensionable ages as defined by the OECD (2011) are designed to be comparable between countries (see table below for overview).

Item Type: Book Contribution
Keywords: Labor market exit; Transition to retirement; Withdrawal from work; Work-retirement transition
Research Units: Current Research Groups > Education and Employment
Former Research Units (until 2020) > in_Equality and Education
Date Deposited: 20 Sep 2018 12:45
Last Modified: 20 Nov 2023 11:48
DOI: 10.1007/978-94-007-0753-5_2159
ISBN: 978-94-007-0752-8

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