Early Retirement Intention in Workers from the Industry and Service Sectors: Influence of the Perception of Benefits from Retiring or from Continuing to Work
Author(s)
Jordi Fernández- Castro1*,
Joaquín T. Limonero1,
Maria Pau González- Olmedo2,
Rosa Serrano3,
Victoria López3,
Tatiana Rovira1
Affiliation(s)
1 Departament de Psicologia Bàsica, Evolutiva i de l’Educació, Universitat Autònoma de Barcelona, Barcelona, Spain. 2 EADA Business School, Barcelona, Spain and Departament de Psicologia Bàsica, Evolutiva i de l’Educació, Universitat Autònoma de Barcelona, Barcelona, Spain. 3 Corporació Sanitària Parc Taulí, Sabadell, Spain.
1 Departament de Psicologia Bàsica, Evolutiva i de l’Educació, Universitat Autònoma de Barcelona, Barcelona, Spain. 2 EADA Business School, Barcelona, Spain and Departament de Psicologia Bàsica, Evolutiva i de l’Educació, Universitat Autònoma de Barcelona, Barcelona, Spain. 3 Corporació Sanitària Parc Taulí, Sabadell, Spain.
ABSTRACT
This study aims to identify the factors that favor the intention to continue working or to retire in workers over 50 years old. The sample consisted of 186 workers of both sexes from the industry and services sectors who answered a questionnaire which recorded their perceived health, job quality and their perception of the benefits or drawbacks of continuing to work or taking early retirement. The results indicated that to continue in active employment is mainly seen as economically beneficial but negative for family life and health. In contrast, early retirement is seen as beneficial for family life and self-actualization but economically negative. A regression analysis revealed that the motivation to stay active occupationally depends on the perceived health and social support given at work, but mostly to have a positive vision of being active workforce.
This study aims to identify the factors that favor the intention to continue working or to retire in workers over 50 years old. The sample consisted of 186 workers of both sexes from the industry and services sectors who answered a questionnaire which recorded their perceived health, job quality and their perception of the benefits or drawbacks of continuing to work or taking early retirement. The results indicated that to continue in active employment is mainly seen as economically beneficial but negative for family life and health. In contrast, early retirement is seen as beneficial for family life and self-actualization but economically negative. A regression analysis revealed that the motivation to stay active occupationally depends on the perceived health and social support given at work, but mostly to have a positive vision of being active workforce.
Cite this paper
Castro, J. , Limonero, J. , Olmedo, M. , Serrano, R. , López, V. and Rovira, T. (2015) Early Retirement Intention in Workers from the Industry and Service Sectors: Influence of the Perception of Benefits from Retiring or from Continuing to Work. Open Journal of Social Sciences, 3, 79-85. doi: 10.4236/jss.2015.34010.
Castro, J. , Limonero, J. , Olmedo, M. , Serrano, R. , López, V. and Rovira, T. (2015) Early Retirement Intention in Workers from the Industry and Service Sectors: Influence of the Perception of Benefits from Retiring or from Continuing to Work. Open Journal of Social Sciences, 3, 79-85. doi: 10.4236/jss.2015.34010.
References
[1] Morshhauser, M. and Sochert, R. (2006) Health Work in an Ageing Europe. Fedearal Association of Company Health Insurance Funds, Essen. [2] Gendron, B. (2011) Older Workers and Active Ageing in France: The Changing Early Retirement and Company Approach. The International Journal of Human Resource Management, 22, 1221-1231. http://dx.doi.org/10.1080/09585192.2011.559095 [3] Staubli, S. and Zweimüller, J. (2013) Does Raising the Early Retirement Age Increase Employment of Older Workers? Journal of Public Economics, 108, 17-32.
http://dx.doi.org/10.1016/j.jpubeco.2013.09.003 [4] Harkonmaki, K., Rahkonen, O., Martikainen, P., Silventoinen, K. and Lahelma, E. (2006) Associations of SF-36 Mental Health Functioning and Work and Family Related Factors with Intentions to Retire Early among Employees. Occupational & Environmental Medicine, 63, 558-563.
http://dx.doi.org/10.1136/oem.2005.022293 [5] Siegrist, J., Wahrendorf, M., von dem Knesebeck, O., Jürges, H. and Borsch-Supan, A. (2007) Quality of Work, Well- Being, and Intended Early Retirement of Older Employees: Baseline Results from the SHARE Study. The European Journal of Public Health, 17, 62-68. http://dx.doi.org/10.1093/eurpub/ckl084 [6] Boumans, N.P.G., de Jong, A.H.J. and Vanderlinden, L. (2008) Determinants of Early Retirement Intentions among Belgian Nurses. Journal of Advanced Nursing, 63, 64-74. http://dx.doi.org/10.1111/j.1365-2648.2008.04651.x [7] Elovainio, M., Kivimaki, M., Vahtera, J., Ojanlatva, A., Korkeila, K., Suominen, S., Helenius, H. and Koskenvuo, M. (2003) Social Support, Early Retirement, and a Retirement Preference: A Study of 10,489 Finnish Adults. Journal of Occupational and Environmental Medicine, 45, 433-439. [8] Henkens, K. and Leenders, M. (2008) Bournout and Early Retirement Intentions among Older Employees. Revista de Psicología del Trabajo y de las Organizaciones, 24, 325-346. [9] Bidewell, J., Griffin, B. and Hesketh, B. (2006) Timing of Retirement: Including a Delay Discounting Perspective in Retirement Models. Journal of Vocational Behavior, 68, 368-387.
http://dx.doi.org/10.1016/j.jvb.2005.06.002 [10] Radl, J. (2012) Too Old to Work, or Too Young to Retire? The Pervasiveness of Age Norms in Western Europe. Work Employment & Society, 26, 755-771. http://dx.doi.org/10.1177/0950017012451644 [11] De Preter, H., Van Looy, D. and Mortelmans, D. (2013) Individual and Institutional Push and Pull Factors as Predictors of Retirement Timing in Europe: A Multilevel Analysis. Journal of Aging Studies, 27, 299-307. http://dx.doi.org/10.1016/j.jaging.2013.06.003 [12] González-Olmedo, M.P. (2013) Factores de Bienestar Laboral: Percepción de lso trabajadores de mayor edad. Universitat Autònoma de Barcelona, Barcelona. [13] Zheng, H., Yang, Y. and Land, K.C. (2012) NIH Public Access. NIH Public Access, 76, 955-983. [14] Tuomi, K., Ilmarinen, J., Jahkola, A., Katajarinne, L. and Tulkki, A. (1998) Work Ability Index. 2nd Edition, Finnish Institute of Occupational Health, Helsinki. [15] Sanz, A., Doval, E., Fernández-Castro, J., Blasco, T. and Alvarez, M. (1998) Validación de la Escala de Competencia Personal de Wallston. Implicaciones para el estudio del estrés. Ansiedad y Estrés, 4, 31-41. [16] Wallston, K.A. (1992) Hocus-Pocus, the Focus Isn’t Strictly on Locus: Rotter’s Social Learning Theory Modified for Health. Cognitive Therapy and Research, 16, 183-199.
http://dx.doi.org/10.1007/BF01173488 [17] Escribà-Aüir, V., Más, R. and Flores, E. (2014) Validación del Job Content Questionnaire en personal de enfermería hospitalario. Gaceta Sanitaria, 15, 142-149.
http://dx.doi.org/10.1016/S0213-9111(01)71533-6 [18] Karasek, R., Brisson, C., Kawakami, N., Houtman, I., Bongers, P., Amick, B. and Ohman, A. (1998) The Job Content Questionnaire (JCQ): An Instrument for Internationally Comparative Assessments of Psychosocial Job Characteristics. Journal of Occupational Health Psychology, 3, 322-355.
http://dx.doi.org/10.1037/1076-8998.3.4.322 [19] Doherty, M. (2009) When the Working Day Is Through: The End of Work as Identity? Work Employment & Society, 23, 84-101. http://dx.doi.org/10.1177/0950017008099779 [20] Zhan, Y., Wang, M., Liu, S. and Shultz, K.S. (2009) Bridge Employment and Retirees’ Health: A Longitudinal Investigation. Journal of Occupational Health Psychology, 14, 374-389.
http://dx.doi.org/10.1037/a0015285
[1] Morshhauser, M. and Sochert, R. (2006) Health Work in an Ageing Europe. Fedearal Association of Company Health Insurance Funds, Essen. [2] Gendron, B. (2011) Older Workers and Active Ageing in France: The Changing Early Retirement and Company Approach. The International Journal of Human Resource Management, 22, 1221-1231. http://dx.doi.org/10.1080/09585192.2011.559095 [3] Staubli, S. and Zweimüller, J. (2013) Does Raising the Early Retirement Age Increase Employment of Older Workers? Journal of Public Economics, 108, 17-32.
http://dx.doi.org/10.1016/j.jpubeco.2013.09.003 [4] Harkonmaki, K., Rahkonen, O., Martikainen, P., Silventoinen, K. and Lahelma, E. (2006) Associations of SF-36 Mental Health Functioning and Work and Family Related Factors with Intentions to Retire Early among Employees. Occupational & Environmental Medicine, 63, 558-563.
http://dx.doi.org/10.1136/oem.2005.022293 [5] Siegrist, J., Wahrendorf, M., von dem Knesebeck, O., Jürges, H. and Borsch-Supan, A. (2007) Quality of Work, Well- Being, and Intended Early Retirement of Older Employees: Baseline Results from the SHARE Study. The European Journal of Public Health, 17, 62-68. http://dx.doi.org/10.1093/eurpub/ckl084 [6] Boumans, N.P.G., de Jong, A.H.J. and Vanderlinden, L. (2008) Determinants of Early Retirement Intentions among Belgian Nurses. Journal of Advanced Nursing, 63, 64-74. http://dx.doi.org/10.1111/j.1365-2648.2008.04651.x [7] Elovainio, M., Kivimaki, M., Vahtera, J., Ojanlatva, A., Korkeila, K., Suominen, S., Helenius, H. and Koskenvuo, M. (2003) Social Support, Early Retirement, and a Retirement Preference: A Study of 10,489 Finnish Adults. Journal of Occupational and Environmental Medicine, 45, 433-439. [8] Henkens, K. and Leenders, M. (2008) Bournout and Early Retirement Intentions among Older Employees. Revista de Psicología del Trabajo y de las Organizaciones, 24, 325-346. [9] Bidewell, J., Griffin, B. and Hesketh, B. (2006) Timing of Retirement: Including a Delay Discounting Perspective in Retirement Models. Journal of Vocational Behavior, 68, 368-387.
http://dx.doi.org/10.1016/j.jvb.2005.06.002 [10] Radl, J. (2012) Too Old to Work, or Too Young to Retire? The Pervasiveness of Age Norms in Western Europe. Work Employment & Society, 26, 755-771. http://dx.doi.org/10.1177/0950017012451644 [11] De Preter, H., Van Looy, D. and Mortelmans, D. (2013) Individual and Institutional Push and Pull Factors as Predictors of Retirement Timing in Europe: A Multilevel Analysis. Journal of Aging Studies, 27, 299-307. http://dx.doi.org/10.1016/j.jaging.2013.06.003 [12] González-Olmedo, M.P. (2013) Factores de Bienestar Laboral: Percepción de lso trabajadores de mayor edad. Universitat Autònoma de Barcelona, Barcelona. [13] Zheng, H., Yang, Y. and Land, K.C. (2012) NIH Public Access. NIH Public Access, 76, 955-983. [14] Tuomi, K., Ilmarinen, J., Jahkola, A., Katajarinne, L. and Tulkki, A. (1998) Work Ability Index. 2nd Edition, Finnish Institute of Occupational Health, Helsinki. [15] Sanz, A., Doval, E., Fernández-Castro, J., Blasco, T. and Alvarez, M. (1998) Validación de la Escala de Competencia Personal de Wallston. Implicaciones para el estudio del estrés. Ansiedad y Estrés, 4, 31-41. [16] Wallston, K.A. (1992) Hocus-Pocus, the Focus Isn’t Strictly on Locus: Rotter’s Social Learning Theory Modified for Health. Cognitive Therapy and Research, 16, 183-199.
http://dx.doi.org/10.1007/BF01173488 [17] Escribà-Aüir, V., Más, R. and Flores, E. (2014) Validación del Job Content Questionnaire en personal de enfermería hospitalario. Gaceta Sanitaria, 15, 142-149.
http://dx.doi.org/10.1016/S0213-9111(01)71533-6 [18] Karasek, R., Brisson, C., Kawakami, N., Houtman, I., Bongers, P., Amick, B. and Ohman, A. (1998) The Job Content Questionnaire (JCQ): An Instrument for Internationally Comparative Assessments of Psychosocial Job Characteristics. Journal of Occupational Health Psychology, 3, 322-355.
http://dx.doi.org/10.1037/1076-8998.3.4.322 [19] Doherty, M. (2009) When the Working Day Is Through: The End of Work as Identity? Work Employment & Society, 23, 84-101. http://dx.doi.org/10.1177/0950017008099779 [20] Zhan, Y., Wang, M., Liu, S. and Shultz, K.S. (2009) Bridge Employment and Retirees’ Health: A Longitudinal Investigation. Journal of Occupational Health Psychology, 14, 374-389.
http://dx.doi.org/10.1037/a0015285