Late-career Risks in Changing Welfare States : Comparing Germany and the United States since the 1980s Comparing Germany and the United States since the 1980s

The risks in the later stages of careers comparing the welfare states of Germany and the United States since the 1980s. Motivated by debates about welfare state retrenchment and growing economic insecurity, this book takes a closer look at the situation of older workers in Germany and the US. It first provides an in-depth account of country differences in key social programs - and of crucial changes since the 1980s. To better understand the impact of these changes on the lives of ordinary citizens, the second part of the book uses household panel data to examine the changing financial consequences of late-career job loss and retirement. Income losses due to men's retirement have grown in both countries, consistent with gradual declines in the generosity of public pension schemes and other public programs. In the US, income trajectories have also become more heterogeneous, with more workers suffering very large income losses and having low income after retirement. Changes in employer-sponsored pensions, in particular the rise of defined-contribution plans, appear to have been a major factor behind this trend. In Germany, where generous early retirement options were phased out after the mid-1990s, there is evidence that workers are paying a growing price for late-career job loss or health problems, which often lead to involuntary early retirement. Changing Welfare States Contents List of Figures List of Tables Acknowledgments Part I Background 1. Introduction 2. Welfare state change and income mobility: a framework 3. Institutional context and social policy change 4. Data and methods Part II Economic consequences of retirement 5. Literature review and research questions 6. The changing economic consequences of retirement Part III Economic consequences of late-career job loss 7. Literature review and research questions 8. The changing economic consequences of late-career job loss Part IV Conclusion 9. Conclusion List of acronyms Bibliography Index Motivated by ongoing debates over welfare state retrenchment and growing economic insecurity, this book compares the situation of older workers in Germany and the United States over the past three decades. Both nations are seeing a rise in insecurity for older workers, but the differences in support programs, pensions, and retirement options have led to differing outcomes for workers faced with early retirement or job loss. Motivated by debates about welfare state retrenchment and growing economic insecurity, the author provides an in-depth account of national differences in key social programmes and of crucial changes since the 1980s. To better understand their impact on the lives of ordinary citizens, he examines household panel data to assess financial consequences of late-career job loss and retirement in the two countries

The first English-language book on Germany's 'best-known important filmmaker'