ABSTRACT. Encouraging worker to delay their retirement is a natural labor force response to increasing longevity and population ageing. However, so far there is still a lack of knowledge regarding what matters most for people’s retirement decision, especially the joint effects of various contributing factors and their relative importance. This research contributes to the understanding of the issue using a national longitudinal survey in Australia. The results show that health (and disability), age and access to retirement income are all significantly associated with retirement decisions. National unemployment rate, as a contextual factor, is also a significant factor in retirement, reflecting the fact that many people retire due to unfavorable macroeconomic conditions. However, the role of job satisfaction is also highlighted in the research, indicating that for older workers who retire late non-monetary benefits from work are perhaps more important than earnings. As such, to encourage later retirement, work place reform to enhance job satisfaction, especially for older workers, should be considered as an important policy option. pp. 80–111

Keywords: retirement; health and disability; retirement income; pension age; job satisfaction; Australia

How to cite: Choi, Ching, and Peng Yu (2015), “Why Do Australians Retire Early or Late? An Analysis of a National Longitudinal Dataset,” American Journal of Medical Research 2(2): 80–111.

Received 28 July 2015 • Received in revised form 9 September 2015
Accepted 10 September 2015 • Available online 20 September 2015

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Social Policy Research Centre,
University of New South Wales, Sydney
Department of Social Services,
Australian Government

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