ABSTRACT
As a major socio-historical event affecting different aspects of life, the COVID-19 pandemic presents a unique opportunity to study how different population groups adapt. We investigate the impact of this crisis on the evolution of perceived stress in the short and medium term in Switzerland, using data of the Swiss Household Panel from 2016 to early 2021, which include annual measures of perceived stress and a study between waves, conducted in May and June 2020 at the end of the first semi-lockdown. Using the longitudinal structure of the data with pre-crisis measurements, we estimate pooled OLS, fixed effects and first difference models, which include socio-demographic variables, life events, socio-economic status, work-related variables, stress-reducing resources and restrictions in place. Results for the overall population show a continuous increase in stress levels between 2016 and 2019 and a stress reduction right after the first semi-lockdown followed by a return to pre-pandemic levels. Privileged groups with higher levels of stress before the pandemic were most likely to reduce perceived stress. Characteristics related to more favourable trajectories include stable or improved financial situations and high levels of education (short-term effects), and high-pressure jobs and working hours (short- and medium-term effects). Our analyses reveal the importance of resources, such as social relations and work-life balance, to individuals' management of the effects of the pandemic. Our results show that the effects of the pandemic on perceived stress are context-specific. They underline the importance of longitudinal analyses to understand the complexity of vulnerability and adaptation processes.
Subject(s)
COVID-19 , Humans , COVID-19/epidemiology , Switzerland/epidemiology , Communicable Disease Control , Pandemics , Stress, Psychological/epidemiologyABSTRACT
This contribution analyses early retirement in Germany and Switzerland with a focus on financial resources. Using data from CH-SILC linked to administrative records and the German SOEP, we distinguish three different financial resources: namely, pre-retirement labour income, net worth and pension entitlements. High labour income reduces the probability for early retirement. In contrast, high pension entitlements are associated with early retirement. Private wealth also plays an important role in early retirement, but differs with regard to the relevance of the asset components between the two countries. Although the pension system moderates the influence of financial resources on retirement behaviour, the direction of the effects is consistent across the countries once pension entitlements are accounted for.
ABSTRACT
Entitlements for social security and occupational pensions present a major wealth component and play a central role for financial security. However, most individual-level data lacks information on pension wealth. By linking various data sources, this contribution estimates the present value of future pension entitlements in Switzerland for statutory pensions, occupational pensions and third pillar accounts and analyses the distribution of augmented wealth, which combines pension wealth and net worth. The CH-SILC survey from 2015 is used to estimate real assets, financial assets and pension wealth of retired individuals. The pension entitlements of non-retired individuals are simulated on the basis of their earning history from administrative records following the accrual method and assuming a real discount rate of 2%. When pension wealth is added to net worth, average wealth doubles, and the Gini-coefficient declines by 26%. The equalising effect is particularly strong for social security pensions. The wealth distribution differs strongly between the three pillars of the pension system; there are also strong differences between gender and age groups. In Switzerland, wealth accumulation continues after retirement age.
