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oapen-20.500.12657-319312022-04-26T12:26:31Z Late-career Risks in Changing Welfare States Heisig, Jan Paul welfare state change older workers germany retirement united states Labour economics Layoff Pension Total fertility rate Unemployment bic Book Industry Communication::1 Geographical Qualifiers::1D Europe::1DF Central Europe::1DFG Germany Motivated by debates about welfare state retrenchment and growing economic insecurity, this book takes a closer look at the situation of older workers in Germany and the US. It first provides an in-depth account of country differences in key social programs - and of crucial changes since the 1980s. To better understand the impact of these changes on the lives of ordinary citizens, the second part of the book uses household panel data to examine the changing financial consequences of late-career job loss and retirement. Income losses due to men's retirement have grown in both countries, consistent with gradual declines in the generosity of public pension schemes and other public programs. In the US, income trajectories have also become more heterogeneous, with more workers suffering very large income losses and having low income after retirement. Changes in employer-sponsored pensions, in particular the rise of defined-contribution plans, appear to have been a major factor behind this trend. In Germany, where generous early retirement options were phased out after the mid-1990s, there is evidence that workers are paying a growing price for late-career job loss or health problems, which often lead to involuntary early retirement. 2017-12-31 23:55:55 2019-12-10 14:46:32 2020-04-01T13:53:31Z 2020-04-01T13:53:31Z 2015 book 621791 OCN: 1030820504 9789089646774 http://library.oapen.org/handle/20.500.12657/31931 eng Changing Welfare States application/pdf n/a 621791.pdf Amsterdam University Press 10.26530/OAPEN_621791 10.26530/OAPEN_621791 dd3d1a33-0ac2-4cfe-a101-355ae1bd857a 9789089646774 336 open access
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OAPEN
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English
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| description |
Motivated by debates about welfare state retrenchment and growing economic insecurity, this book takes a closer look at the situation of older workers in Germany and the US. It first provides an in-depth account of country differences in key social programs - and of crucial changes since the 1980s. To better understand the impact of these changes on the lives of ordinary citizens, the second part of the book uses household panel data to examine the changing financial consequences of late-career job loss and retirement. Income losses due to men's retirement have grown in both countries, consistent with gradual declines in the generosity of public pension schemes and other public programs. In the US, income trajectories have also become more heterogeneous, with more workers suffering very large income losses and having low income after retirement. Changes in employer-sponsored pensions, in particular the rise of defined-contribution plans, appear to have been a major factor behind this trend. In Germany, where generous early retirement options were phased out after the mid-1990s, there is evidence that workers are paying a growing price for late-career job loss or health problems, which often lead to involuntary early retirement.
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621791.pdf
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621791.pdf
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Amsterdam University Press
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2017
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1771297632439762944
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