Social Security Programs and Retirement Around the World: Working Longer – Introduction and Summary
This is the introduction and summary to the eighth phase of an ongoing project on Social Security Programs and Retirement Around the World. This project, which compares the experiences of a dozen developed countries, was launched in the mid 1990s following decades of decline in the labor force participation rate of older men. The first several phases of the project document that social security program provisions can create powerful incentives for retirement that are strongly correlated with the labor force behavior of older workers. Subsequent phases of the project have explored disability program provisions and their effects on retirement as well as potential obstacles to promoting work at older ages, including whether there is a link between older employment and youth unemployment and whether older individuals are healthy enough to work longer.
In the two decades since the project began, the dramatic decline in men’s labor force participation has ended and been replaced by sharply rising participation rates. Older women’s participation has been rising as well. In this eighth phase of the project, we explore this phenomenon of working longer. We document trends in participation and employment and also consider factors that may help to explain these changes in behavior. We conclude that social security reforms as well as other factors such as the movement of women into the labor force have likely played an important role.
This paper is part of the National Bureau of Economic Research’s International Social Security (ISS) Project, which is supported by the National Institute on Aging (grants P01 AG012810 and P30-AG012810). We thank the members of the other country teams in the ISS project for comments that helped to shape this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Kevin S. Milligan
Funding for this project was provided by the National Institute on Aging grant numbers P01-AG005842 and P30-AG012810.
October 18, 2017
This disclosure attempts to disclose completely my potential conflicts of interest, using the principles circulated by the American Economic Association on January 5, 2012.
IRB approval was not sought for this project since the data already existed in the public domain. This project did not collect new data.
Item (2): Sources of support:
“Each author of a submitted article should identify each interested party from whom he or she has received significant financial support, summing to at least $10,000 in the past three years, …”
The following corresponds to the calendar years 2014-2017. Below is a complete listing of sources of support that exceed $10,000. For several of these, a grant flowed through a research organization. I have tried to list both the research organization and ultimate source of the funds.
1. University of British Columbia: salary. (2014 2015 2016 2017)
2. National Institute on Aging / National Bureau of Economic Research: stipend for International Social Security project. (2014 2015)
3. Sloan Foundation / National Bureau of Economic Research: stipend for Longer Working Lives project. (2015 2016 2017)
4. Social Science and Humanities Research Council of Canada: Standard Research Grant. (2015)
5. Social Science and Humanities Research Council of Canada: Insight Development Grant. (2015 2016 2017)
6. C.D. Howe Institute, stipend for role as Scholar-in-Residence (2014 2015 2016 2017)
7. Department of Finance: personal services agreement for consulting (2016 2017)
8. Department of Finance: Interchange Agreement (ie ‘secondment’) for 80% of my time, September-December (2016).
Item (3): relevant paid or unpaid positions:
“Each author should disclose any paid or unpaid positions as officer, director, or board member of relevant non-profit advocacy organizations or profit-making entities.”
The following list covers activities in the years 2013-2016:
1. Editor, Canadian Tax Journal. (Paid) (2014 2015 2016 2017)
2. Associate Editor, Journal of Pension Economics and Finance. (Unpaid) (2014 2015 2016 2017)
3. Academic Director, British Columbia Interuniversity Research Data Centre (Unpaid teaching release / research stipend). Funded by UBC/UVIC/SFU/UNBC/SSHRC/CIHR. (2014 2015 2016 2017)
4. President and sole shareholder of KAYEMM CONSULTANCY INCORPORATED, through which some of the above funds have been received. (2014 2015 2016 2017)
5. Board of Directors, Wesley Place Ltd., Vancouver BC. (Unpaid) (2014 2015 2016 2017)
6. Member of Economic Advisory Council for Liberal Party of Canada. (Unpaid) (2014 2015)
Item (4): disclosure for close relative or partner
I had no domestic partner in the years 2014-2017.
1. Research Associate, National Bureau of Economic Research. (Unpaid) (2014 2015 2017)
2. Research Fellow, C.D. Howe Institute. (Unpaid) (2014)
3. Scholar-in-Residence, C.D. Howe Institute. (Stipend) (2014 2015 2016 2017)
4. Occasional contributor, Economy Lab, Globe and Mail. (Unpaid) (2013)
5. Occasional contributor, Maclean’s Econowatch. (Paid) (2013 2014 2015 2016 2017)
I hold shares in companies through broadly-diversified mutual funds and investment vehicles. I do not directly hold shares of any individual corporation (except for KAYEMM CONSULTANCY as noted above).
I am not a member of any political party at the municipal, provincial, or federal levels. I have occasional policy conversations with policymakers from many parties, as well as government officials at the municipal, provincial, and federal levels.
Right to review:
None of these organizations had a right to review or edit my published work, except when they acted as the publisher.