Early Retirement in Portugal

Abstract

This paper analyzes the early retirement decisions made by Portuguese workers aged 50 to 64. It investigates the main characteristics of early retirees, and the main determinants of their decision, based on the eight waves of the European Community Household Panel for Portugal, from 1994 to 2001. Several definitions of early retirement are considered in order to take into account the different pathways to retirement that workers may follow. Some results are robust to different methodologies: an older age, health problems, a spouse that is not working, and small family sizes generally increase the chances of early retirement.