Widowhood and Retirement Timing: Evidence from the Health and Retirement Study

By Philipp Schreiber (University of Mannheim) The combination of an increasing life expectancy, low fertility rates, and an early effective retirement age creates pressure to act for Governments and organizations. The pay-as-you-go social security systems of many countries are troubled by the increasing ratio of retirees to working people. In addition, many organizations face difficulties caused by a shrinking workforce and the accompanied shortage of skilled workers. To counteract, it is essential to create an environment in which older workers...