Derde editie van de AOW Monitor: Effect van verhoging van de AOW-leeftijd op werk, inkomen en gezondheid
Report by Raymond Montizaan and Ineke Bijlsma
This report documents the results of the third edition of the AOW-monitor. Causal difference-in-difference analyses show that the increase in the state pension age has brought about exactly what policymakers had intended when they introduced this policy instrument. The labor force participation rate has increased significantly as a result of the increase in the state pension age. At the same time, we see that people are on unemployment or disability benefits for longer. But the trends also show that it is not likely that these benefits are being used specifically as alternative routes to early retirement. No increase is observed in the percentage of people receiving unemployment or disability benefits.
In addition, we find that the state pension has also not had a significant effect on people's health. Using instrumental variable analysis, we further find no significant causal effect of retirement on health.
Using employer survey data, we show that more than half of the employers have not invested in provisions / measures that facilitate continued employment of older workers, although the percentage of employers that do not do so is slightly decreasing. The most popular measures reflect a classic policy to reduce the work burden: extra days off for older employees, task reductions, adjustment of tasks, and a shorter working week and working hours. More activating instruments such as encouraging training and course participation, on the other hand, are not applied more often.
Here you can find the report in Dutch in full length!