The Calculation and Use of Retirement Age Statistics: A Recap Since 1970

Abstract

This chapter provides a historical overview of the data and methodologies used to measure worklife and the usefulness of such statistics for projecting future retirement behavior. Section 2 discusses the calculation of worklife expectancy (WLE), beginning with a review of the data and method of calculation using what has come to be known as the conventional model. Section 3 looks at the WLE results using the increment–decrement model and subsequent models. Sections 4 and 5 revisit the conventional model and compare the results of the conventional model to the increment-decrement model. Section 6 of the chapter discusses the data and methodologies used to calculate years to final separation (YFS), and Section 7 discusses the use of both WLE and YFS statistics in projecting future retirement behavior.

Citation

Hunt, T., Pickersgill, J. and Rutemiller, H. (2005), "The Calculation and Use of Retirement Age Statistics: A Recap Since 1970", Gaughan, P.A. and Thornton, R.J. (Ed.) Developments in Litigation Economics (Contemporary Studies in Economic and Financial Analysis, Vol. 87), Emerald Group Publishing Limited, Leeds, pp. 83-117. https://doi.org/10.1016/S1569-3759(05)87005-6