Post retirement labour supply in England
About the speaker
Dr Ricky Kanabar is a Senior Research Officer at the Institute of Social and Economic Research, University of Essex. Ricky's main research interests relate to the labour supply of older individuals, particularly in the timing of retirement. He is also interested in modelling income dynamics using longitudinal data. For more information regarding his current projects, please visit his website.
Abstract (Post retirement labour supply in England):
This paper uses data from the English Longitudinal Study of Ageing to investigate the determinants of post retirement labour supply behaviour amongst retired men in England. I find the hazard of unretirement is highest when an individual is in their mid-late 60s. Evidence suggests unretirement is more likely amongst individuals with a higher level of educational attainment, who have a spouse in the labour market and are in better health. I investigate the nature of unretirement jobs and find they tend to be part time and provide a non-trivial source of income.
Abstract (To defer or not defer? UK state pension and work decisions in a lifecycle model):
The UK state pension (which depends only on age) includes an option to defer take up which yields either a subsequent lump sum or higher weekly pension. We analyse the joint decisions on pension deferral and intertemporal labour supply/participation in a lifecycle setting. We show that deferral is purely a financial decision, but the impact of deferral on work decisions depends on preferences, wage rates, non-labour income and initial wealth. To exactly characterize this, we use a quasilinear utility function and provide calibrated simulations. We also discuss the choice between a lump sum or increased weekly pension.
This event is part of a seminar series:
Michaelmas Term 2016 Seminar Series ‘Financial Planning For Later Life in the UK’ Thursdays at 14:00 – 15:30 Seminar Room: 66 Banbury Road, Oxford OX2 6PR Convener: Kenneth Howse The series will focus on individual behaviour and decision-making for the achievement of financial security in later life. The aim is to invite presentations reporting up-to-d...
27 October 2016 14:00 - 15:30
Oxford Institute of Population Ageing
66 Banbury Road, Oxford, OX2 6PR