Financial incentive on decision to retire and the influence from financial crisis in the Netherlands

  • Haoran Yu Haoran Yu

The decision on retirement is influenced by many factors, such as health conditions, social circumstances, financial incentives, individual preferences, and so on. According to existing studies, financial incentives influence the determination of retirement at least to some extent. In the future, with a probably increased flexibility of retirement age, financial incentives may play an even more important role. Consequently, in our paper, we first test the effect of financial motives, based on data from 1995 to 2009 in the Netherlands. We find that the planned retirement age is significantly influenced by financial assets, yearly income, and expected pension benefits. Furthermore, we investigate whether, and to what extent, the financial crisis (from a financial viewpoint) has a real impact on the households’ retirement decision, using the DNB Household Survey data from 2004 to 2009. We find that, in case of most Dutch employees, until now, the influence of financial crisis on planned retirement age is not obvious, while this influence is remarkable in case of risky financial assets holders.

Netspar, Network for Studies on Pensions, Aging and Retirement, is een denktank en kennisnetwerk. Netspar is gericht op een goed geïnformeerd pensioendebat.


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