How do people spend their time before and after retirement?
How do the elderly spend their time? How does time use of the elderly differ from younger people? This paper uses a technique developed by Nobel Prize winner Daniel Kahneman and his colleagues to address these questions for the situation in the Netherlands.
This paper presents evidence on how time use changes with age and retirement and discusses implications for pension design. The study is based on a sample of participants aged between 45 and 90 who are representative for the Dutch population. The study shows that the elderly are strikingly active until a fairly advanced age. This may have important implications for an adequate level of retirement spending. The evidence also suggests that it may be worthwhile to (further) facilitate part-time employment among the elderly and to promote informal care provided by elderly for their older peers. Finally, the study also has implications for pension communication.