The Effects of Job Characteristics on Retirement

Published in: Journal of Pension Economics & Finance (2020). doi: 10.1017/S1474747220000025

Posted on RAND.org on September 29, 2020

by Peter Hudomiet, Michael D. Hurd, Andrew M. Parker, Susann Rohwedder

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Along with data about actual, desired, and anticipated job characteristics, this paper uses a novel data element, the subjective conditional probability of working at age 70, to estimate the causal effects of job characteristics on retirement in the United States. Having flexible work hours is the most consistent predictor of retirement preferences and expectations: if all current workers had flexible hours, the fraction working at age 70 would be 0.322, but it would be just 0.172 if none had this option. Job stress, physical, and cognitive job demands, the option to telecommute, and commuting times were additional predictors of retirement expectations.

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