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Pension insecurity and well-being in Europe
Olivera Angulo, Javier; Ponomarenko, Valentina
2015
 

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Keywords :
Pension insecurity; Subjective well-being; Old age; Financial crisis; Economic insecurity; Pensions
Abstract :
[en] This paper studies pension insecurity in a sample of non-retired individuals aged 50 years or older from 18 European countries. We relate pension insecurity with the subjective expectations on the probability that the government will reduce the pensions of the individual before retirement or will increase the statutory retirement age. We argue that changes in economic conditions and policy affect the formation of such probabilities, and through this, subjective wellbeing. In particular, we study the effects of pension insecurity on subjective wellbeing with pooled OLS models, regressions per quintiles and instrumental variables. We find a statistically significant, stable and negative association between pension insecurity and subjective wellbeing. The quintile regressions allow us to establish that pension insecurity is more salient for individuals who are poorer, who subjectively assess their life survival rate as low and who have higher cognitive abilities.
Disciplines :
Social & behavioral sciences, psychology: Multidisciplinary, general & others
Author, co-author :
Olivera Angulo, Javier ;  University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
Ponomarenko, Valentina ;  University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE)
Language :
English
Title :
Pension insecurity and well-being in Europe
Publication date :
27 April 2015
Version :
version: 19 May 2015
Number of pages :
36
Available on ORBilu :
since 27 April 2015

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