Table 3.
Panel multinomial logistic regressions
| Ref: no change | Random effects with zero covariance | |||
|---|---|---|---|---|
| Retiring earlier | Retiring later | |||
| Main exposure | ||||
| Poor self-rated health | 0.634 | (0.277) | 0.972 | (0.421) |
| Depressive symptomology | 1.110 | (0.393) | 1.657 | (0.581) |
| Worried about future financial situation | 0.622 | (0.217) | 3.315** | (1.127) |
| Controls from 2018/19 | ||||
| Male | 0.749 | (0.232) | 1.850 | (0.594) |
| Age | 1.015 | (0.029) | 1.019 | (0.035) |
| Non-white | 4.373* | (2.681) | 1.670 | (1.012) |
| Partnered | 1.984 | (0.753) | 0.933 | (0.357) |
| Have children in benefit unit | 0.781 | (0.377) | 1.365 | (0.614) |
| Live in rural area | 0.387* | (0.154) | 1.530 | (0.568) |
| Limiting, long-term illness | 1.150 | (0.476) | 0.441 | (0.237) |
| Depressive symptomology | 0.326 | (0.226) | 2.342 | (1.423) |
| Degree [NVQ4-5] | 0.618 | (0.217) | 1.645 | (0.628) |
| Social class | ||||
| Managerial, administrative, profsessional | ||||
| Intermediate | 0.578 | (0.322) | 0.906 | (0.505) |
| Routine/manual | 0.806 | (0.370) | 1.434 | (0.666) |
| Other/incomplete info | 0.757 | (0.300) | 1.561 | (0.668) |
| Index of Multiple Deprivation | ||||
| Quintile 1 (least deprived) | ||||
| Quintile 2 | 0.939 | (0.385) | 1.205 | (0.509) |
| Quintile 3 | 0.374* | (0.174) | 0.907 | (0.426) |
| Quintile 4 | 0.390* | (0.185) | 1.519 | (0.767) |
| Quintile 5 (most deprived) | 0.443 | (0.250) | 0.417 | (0.287) |
| Financial difficulties | 0.447 | (0.297) | 0.497 | (0.267) |
| Own home | 2.316* | (0.793) | 0.822 | (0.287) |
| Log wealth | 1.000 | (0.000) | 1.000 | (0.000) |
| Controls from 2020 | ||||
| Have private pension | 2.148* | (0.719) | 1.744 | (0.583) |
| Currently working | 0.427 | (0.200) | 1.258 | (0.641) |
| Modifiers | ||||
| Financial condition due to COVID | ||||
| Better off | 1.257 | (0.482) | 1.687 | (0.671) |
| Same (ref.) | ||||
| Worse off | 1.764 | (0.642) | 4.011** | (1.206) |
| Covid exposure | 1.108 | (0.348) | 0.980 | (0.336) |
| var(u1) | 115.753** (207.922) | |||
| var(u2) | 972.068** (2588.136) | |||
| Wave dummy included | Yes | |||
| N | 1319 | |||
Figures are relative-risk ratios. *p < 0.05, **p < 0.01