Individuelle Determinanten des Renteneintrittsalters – Eine empirische Analyse von Übergängen in den Ruhestand

Abstract

This article examines the determinants of men's retirement ages in Germany. In particular, it assesses the degree of control exercised by members of different social groups over the timing of their retirement, taking account of statutory retirement ages by the use of an event history model. The findings are based on micro-data provided by the Research Data Center of the German Statutory Pension Insurance - the Scientific Use File Wrsichertenrentenzugang [Pension Insurance Entry] 2004. Frequent cases of involuntary retirement due to unemployment or poor health contrast starkly with another class of early retirees, whose retirement decisions are driven primarily by financial incentives (e.g. by Altersteilzeit [Pre-retirement Part-time Employment Model]). Late entries to old age pensions can be observed more often among men with better education and higher earnings. This pattern is explained mainly by a positive association between men's occupational status and their propensity to work longer. Moreover, social norms in regard to individual biographies affect people's preferences about their exit from work. Altogether, the institutionalized framework imposes serious restrictions on individuals' pathways to retirement. Especially men with irregular working careers who are not entitled to an old age pension before reaching the age of 65 experience very limited choice.