Differentiating retirement age to compensate for health differences

Population aging in Europe calls for an overall rise in the age of retirement. However, most observers agree that the latter should be differentiated to account for different individuals’ heterogeneous health when they grow older. This paper explores the relevance of this idea using the European Sur...

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Autor principal:	Vandenberghe Vincent
Formato:	article
Lenguaje:	EN
Publicado:	Sciendo 2021
Materias:	aging health retirement policy ex ante vs ex post egalitarianism j14 i1 j26 Labor policy. Labor and the state HD7795-8027
Acceso en línea:	https://doaj.org/article/19a64d15e1d2468d9df871b7f766b580
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spelling	oai:doaj.org-article:19a64d15e1d2468d9df871b7f766b5802021-12-05T14:11:08ZDifferentiating retirement age to compensate for health differences2193-900410.2478/izajolp-2021-0002https://doaj.org/article/19a64d15e1d2468d9df871b7f766b5802021-05-01T00:00:00Zhttps://doi.org/10.2478/izajolp-2021-0002https://doaj.org/toc/2193-9004Population aging in Europe calls for an overall rise in the age of retirement. However, most observers agree that the latter should be differentiated to account for different individuals’ heterogeneous health when they grow older. This paper explores the relevance of this idea using the European Survey of Health, Ageing and Retirement in Europe (SHARE) panel data. It first quantifies the health gradient across and within each of the European countries across sociodemographic groups (i.e., Gender × Education) at typical retirement age. It then estimates the degree of retirement age differentiation that would be needed to equalize expected health at the moment of retirement. Results point at the need for a very high degree of differentiation to equalize expected health, both across and within, European countries. But the paper also shows that systematic retirement age differentiation would fail to match a significant portion of the full distribution of health status. In a world synonymous with systematic health-based retirement age differentiation, there would still be a lot of what health economists call F-mistakes ([F]ailure of treatment, i.e., no retirement for people in poor health) and E-mistakes ([E]xcessive treatment, i.e., people in good health going for retirement).Vandenberghe VincentSciendoarticleaginghealthretirement policyex ante vs ex post egalitarianismj14i1j26Labor policy. Labor and the stateHD7795-8027ENIZA Journal of Labor Policy, Vol 11, Iss 1, Pp 1037-1078 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	aging health retirement policy ex ante vs ex post egalitarianism j14 i1 j26 Labor policy. Labor and the state HD7795-8027
spellingShingle	aging health retirement policy ex ante vs ex post egalitarianism j14 i1 j26 Labor policy. Labor and the state HD7795-8027 Vandenberghe Vincent Differentiating retirement age to compensate for health differences
description	Population aging in Europe calls for an overall rise in the age of retirement. However, most observers agree that the latter should be differentiated to account for different individuals’ heterogeneous health when they grow older. This paper explores the relevance of this idea using the European Survey of Health, Ageing and Retirement in Europe (SHARE) panel data. It first quantifies the health gradient across and within each of the European countries across sociodemographic groups (i.e., Gender × Education) at typical retirement age. It then estimates the degree of retirement age differentiation that would be needed to equalize expected health at the moment of retirement. Results point at the need for a very high degree of differentiation to equalize expected health, both across and within, European countries. But the paper also shows that systematic retirement age differentiation would fail to match a significant portion of the full distribution of health status. In a world synonymous with systematic health-based retirement age differentiation, there would still be a lot of what health economists call F-mistakes ([F]ailure of treatment, i.e., no retirement for people in poor health) and E-mistakes ([E]xcessive treatment, i.e., people in good health going for retirement).
format	article
author	Vandenberghe Vincent
author_facet	Vandenberghe Vincent
author_sort	Vandenberghe Vincent
title	Differentiating retirement age to compensate for health differences
title_short	Differentiating retirement age to compensate for health differences
title_full	Differentiating retirement age to compensate for health differences
title_fullStr	Differentiating retirement age to compensate for health differences
title_full_unstemmed	Differentiating retirement age to compensate for health differences
title_sort	differentiating retirement age to compensate for health differences
publisher	Sciendo
publishDate	2021
url	https://doaj.org/article/19a64d15e1d2468d9df871b7f766b580
work_keys_str_mv	AT vandenberghevincent differentiatingretirementagetocompensateforhealthdifferences
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Differentiating retirement age to compensate for health differences

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