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Effective Retirement Age in Austria – A Review of Changes since 2000

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Abstract

Increases in life expectancy, lower birthrates and the aging of the baby-boom generation call for measures to increase the effective retirement age. In Austria, the employment rate of older workers rose from 28.8% to 41.4% between 2000 and 2011, which would imply substantial progress in keeping older workers in employment. Yet social security statistics indicate that the average pension entry age has barely risen in the past decade and that it remains stuck considerably below the statutory age. How can these differing developments be reconciled? By discussing various concepts of the effective retirement age, this article finds that the discrepancy can be largely explained by adjusting the conventional statistical measures in several ways. After accounting for such effects it becomes clear that the average retirement age has indeed risen.

Suggested Citation

  • Alfred Stiglbauer, 2013. "Effective Retirement Age in Austria – A Review of Changes since 2000," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 29-49.
    • Handle: RePEc:onb:oenbmp:y:2013:i:1:b:3
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    File URL: https://www.oenb.at/dam/jcr:824e7f89-03fa-43a6-b41f-d633d39cbbc2/mop_2013_q1_analyses3_tcm16-254584.pdf
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    More about this item

    Keywords

    retirement; effective retirement age; public pensions;
    All these keywords.

    JEL classification:

    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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