Mandatory Retirement Rules and the Retirement Decisions of University Professors in Canada |
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| Authors: | Casey Warman Christopher Worswick |
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| Affiliation: | 1. Department of Economics, Brock University, Canada;2. Department of Economics and Finance, University of Guelph, Guelph, Ontario N1G 2W1, Canada;1. Stillman School of Business, Seton Hall University, South Orange, NJ, United States;2. Zicklin School of Business, Baruch College, City University of New York, United States;1. Department of Economics, College of Business and Economics, Lehigh University, 621 Taylor Street, Bethlehem, PA 18015-3117, USA;2. City University of New York Graduate Center, 365 Fifth Avenue, 5th Floor, New York, NY 10016-4309, USA;3. Department of Economics, National Taiwan University, 21 Hsu-Chow Road, Taipei 100, Taiwan;4. National Bureau of Economic Research, 5 Hanover Square, 16th Floor, Suite 1602, New York, NY 10004-2630, USA;5. IZA, P. O. Box 7240, 53072 Bonn, Germany |
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| Abstract: | We examine the impact of mandatory retirement on the retirement decisions of professors in Canada using administrative data. Estimation of a discrete time hazard model indicates that faculty members at universities with mandatory retirement at age 65 have exit rates at age 65 that are around 30 to 38 percentage points higher than those of their counterparts at universities without mandatory retirement. This overall difference in exit rates is found when the sample is restricted by discipline, professional rank and type of university. Similar results are found for both men and women; however, the magnitude of this effect is somewhat smaller for women. Restricting the analysis to include faculty members who received their highest degree at age 34 or older does not affect the magnitude of the difference in exit rates between faculty at universities without mandatory retirement and those at universities with mandatory retirement. The estimated survival probabilities indicate that only 22.7% of faculty members employed at age 64 at universities without mandatory retirement will continue to be employed at the same university at age 72. |
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