An analysis of well-being in retirement: The role of pensions, health, and ‘voluntariness’ of retirement

Keith Bender

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2012, vol. 41, issue 4, 424-433

Abstract: This paper examines a wide range of determinants of retiree well-being of retirees. Using data from the 2000 Health and Retirement Study, increases in economic factors such as income lead to higher well-being, although relative income has a larger effect than absolute income. The strongest predictors are the voluntariness of entering retirement, pension characteristics, and health. Retirees “forced” to retire or have defined contribution pensions or bad health have significantly lower well-being. The results suggest a more nuanced approach in addressing retiree well-being than just a focus on the economic well-being of retirees.

Keywords: Subjective well-being; Employee pension plans; Retirement; Health (search for similar items in EconPapers)
JEL-codes: I31 J14 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:41:y:2012:i:4:p:424-433

DOI: 10.1016/j.socec.2011.05.010

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