Pensions reforms, workforce ageing and firm-provided welfare
Giuseppe Croce (),
Andrea Ricci and
Applied Economics, 2019, vol. 51, issue 32, 3480-3497
This paper investigates the impact of an exogenous increase in the legal retirement age on the firmsâ€™ propensity to provide welfare services voluntarily to their employees. To this purpose we exploit a unique information derived from the Rilevazione su Imprese e Lavoro (RIL), a survey conducted in 2015 on a large and representative sample of Italian firms. Applying different regression models we show that firms which were forced to give up previously planned hirings because of the Law 201/2011 (the so-called â€˜Fornero pension reformâ€™), increased the probability of providing welfare services at workplace. By referring to the sociological, human resource management and economic literature we then argue that a sudden increase in the legal retirement age may motivate the employers to establish welfare schemes as a way to cope with an ageing workforce. Our findings also hold when propensity score matching methods are used in order to control for sample selection issues.
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