Aging in Asia Findings from New and Emerging Data Initiatives (2012) / Chapter Skim
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8 Retirement Process in Japan: New Evidence from the Japanese Study on Aging and Retirement (JSTAR)--Hidehiko Ichimura and Satoshi Shimizutani
8 Retirement Process in Japan: New Evidence from the Japanese Study on Aging and Retirement (JSTAR)--Hidehiko Ichimura and Satoshi Shimizutani
Pages 173-204
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From page 173... ...
We are grateful to the Indian National Science Academy, the host of the conference, and other sponsoring organizations. We also thank Asako Jufuku, Hirokazu Matsuyama, and Yuta Kikuchi for excellent research assistance.
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From page 174... ...
, and Survey on Health, Ageing and Retirement in Europe (SHARE) , overcomes those two obsta 2 Research carried out in Japanese workers' retirement behavior is largely limited to two areas: the labor supply effect of social security earnings test and the effect of mandatory retirement on the transition from a primary job to a secondary job.
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From page 175... ...
The definitions include an affirmative answer to a question regarding retirement status: "Are you currently retired? " as well as a state in which the individual is out of the labor force with the intention of remaining out permanently, and a state in which the individual receives some of his or her income as pension benefits (Lazear, 1986)
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From page 177... ...
In contrast to males, a larger fraction of women's nonworking status is accounted for by homemaking, not by retirement. We should note that this must be women who are now no longer working and describe themselves as "homemakers" rather than "retired," although they are retired in the sense of having left the labor force as they reach traditional retirement ages.
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From page 178... ...
Of course, these patterns may be a reflection of employment institu tions, such as the start year to receive pension benefits. Thus, we turn to an examination of the distribution of the age to receive a pension.
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From page 179... ...
The normal eligibility ages for both components of EPI are set at age 65, but EPI beneficiaries are also entitled to receive a "special benefit" before age 65 that is close to formal benefits in most cases. The normal eligibility ages for special benefits differs between males and females and between flat-rate and wage-proportional components.
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From page 180... ...
That the proportion of those who started to receive pension benefits at age 65 is larger for females reflects the fact that a larger fraction than males are NPI pensioners. By educational attainment, females who are junior high school graduates represent the largest proportion at age 65, followed by age 60, which also is a reflection that a larger proportion of NPI pensioners are females rather than males.
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From page 181... ...
181 HIDEHIKO ICHIMURA and SATOSHI SHIMIZUTANI A Male .5 .4 .3 Fraction .2 .1 0 50 55 60 65 70 Age B
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From page 182... ...
For females, the transition probability into "not working" from "working" increases after age 70 from less than 20 to 27% while the transition probability into "working" from "not working" gradually drops from about 8 to 3% from age 60–75. The middle panel shows that there is very little transition between self-employment and employment status from age 60–75 for both sexes.
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From page 183... ...
183 HIDEHIKO ICHIMURA and SATOSHI SHIMIZUTANI TABLE 8-1 Continued Male Female 2009 2009 Age Employed Self- Age Employed Self60−64 Employed 60–64 Employed 2007 Employed 98.0% 2.0% 2007 Employed 98.5% 1.5% Self- 0.0% 100.0% Self- 1.8% 98.2% Employed Employed 2009 2009 Age Employed Self- Age Employed Self65−69 Employed 65–69 Employed 2007 Employed 100.0% 0.0% 2007 Employed 97.1% 2.9% Self- 4.1% 95.9% Self- 3.8% 96.2% Employed Employed 2009 2009 Age Employed Self- Age Employed Self70−75 Employed 70–75 Employed 2007 Employed 100.0% 0.0% 2007 Employed 100.0% 0.0% Self- 0.0% 100.0% Self- 0.0% 100.0% Employed Employed Male Female 2009 2009 Age Full time Part time Age Full time Part time 60−64 60–64 2007 Full time 28.6% 71.4% 2007 Full time 42.1% 57.9% Part time 5.4% 94.6% Part time 2.0% 98.0% 2009 2009 Age Full time Part time Age Full time Part time 65−69 65–69 2007 Full time 40.0% 60.0% 2007 Full time 37.5% 62.5% Part time 2.0% 98.0% Part time 0.9% 99.1% 2009 2009 Age Full time Part time Age Full time Part time 70−75 70–75 2007 Full time 16.7% 83.3% 2007 Full time 50.0% 50.0% Part time 0.2% 99.8% Part time 0.1% 99.9% SOURCE: Data from JSTAR (2007)
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From page 184... ...
As stated, full-time status is defined as whether one worked on a regular basis or not. For males, the transition probability into "part time" from "full time" is more than 70% and 60% in their 60s, and it increases to more than 83% after age 70.
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From page 185... ...
combined to fit on one page four uneditable bitmaps, plus vector labels for A and B and percentiles all text redrawn
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From page 186... ...
limitation , and a mea sure of depression in 2007. The socioeconomic variables include net assets over lifetime in 2007, educational attainment, and employment status (employed or self-employed)
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From page 187... ...
We normalize the coefficients defining the three indices by setting one of the coefficients to 1; for the health index the variable corresponding to the normalized coefficient is the CES-D scale depression measure, for the socioeconomic index it is the dummy variable indicating high education level (more than two-year college) , and for the family index it is whether the person is married or not in 2007.
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From page 188... ...
In the regression analysis, four categorical dummy variables are created by dividing the asset level into four groups depending on thresholds of net assets: 1 million, 15 million, and 35 million yen. Table 8-3 reports the estimated coefficients in Regressions 1–3 for males.
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From page 189... ...
2,022 0.05 0.22 2,029 0.06 0.24 Grip strength [#] 1,898 35.73 6.96 1,959 22.71 4.73 Spouse 2,032 0.88 0.32 2,031 0.75 0.44 Working spouse 1,785 0.53 0.50 1,516 0.60 0.49 Providing care 2,032 0.14 0.45 2,031 0.11 0.37 No child 2,032 0.09 0.29 2,030 0.08 0.28 Minimum child age [#]
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From page 190... ...
2.635 (3.346) F index (family index)
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From page 191... ...
–0.780 (1.153) Grip strength –0.0618 (0.0489)
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From page 192... ...
–3.465 (6.541) Minimum child age 0.0594 (0.0186)
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From page 193... ...
For those who work more than 40 hours in the higher index values, the probability to retire increases, and for those who work for more than 40 hours in the lower index values, the probability slightly declines to less
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From page 194... ...
. R02177 Figure 8-5 parts a and b combined to fit on one page two uneditable bitmaps, plus vector labels for A and B
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From page 195... ...
The third column reports the result of Regression 2, which explores the factors affecting probability of retirement in 2009 given the respondent reported being retired in 2007. The result indicates that those in their 50s with a lower health index and higher family index retire with higher probability.
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* F index (family index)
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TABLE 8-4 Continued 198 Column 1 2 3 4 Working Hours in 2007 > 0 Working Hours in 2007 = 0 Retirement in 2009 Working hours in 2009 Retirement in 2009 Working hours in 2009 Age 60−64 *
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From page 199... ...
1.361 (1.055) Minimum child age –0.0749 (0.0402)
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From page 200... ...
However, there is a significant difference across index values. For females, socioeconomic variables affect the retirement decision in a statistically significant way.
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. R02177 Figure 8-7 parts a and b combined to fit on one page two uneditable bitmaps, plus vector labels for A and B all text redrawn
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. R02177 Figure 8-8 parts a and b combined to fit on one page two uneditable bitmaps, plus vector labels for A and B
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From page 203... ...
Overall, higher-index males seem to keep working at current working hours lon ger than their lower index values counterparts. If their working hours are reduced to 30 hours or less per week when they are in their 50s or above 70, higher index value persons retire with higher probability than those with lower index values.
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From page 204... ...
. Claiming Behavior of Public Pension Benefits: New Evidence from Japanese Study on Aging and Retirement (JSTAR)
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