The Relationship between Retirement and Socio-economic Position

This research investigates the relationship between retirement timing, the availability of pathways towards retirement and socio-economic position. Three indicators of socioeconomic position are used: the European Socio-economic Classification (ESec), the Standard International Occupational Prestige Scale (SIOPS) and the International Socio-Economic Index of occupational status (ISEI). Using two samples of the Survey of Health, Ageing and Retirement in Europe (SHARE) and a piecewise-constant exponential model, a clear social gradient in retirement timing is established. Members of the petit bourgeoise, higher salariat and agricultural self-employed, together with workers in occupations with high prestige or high social status often retire late. Furthermore, workers in physically demanding jobs are found to retire more often involuntarily.