Working longer, feeling worse? How job quality shapes the mental health toll of delayed retirement
利用14个欧洲国家的养老金改革数据，研究发现延迟退休会增加老年工人的抑郁风险，但工作质量（如社会支持、工作自主性）能缓解或加剧这一影响。
This paper examines the impact of delayed retirement, induced by pension reforms, on late-career mental health, focusing on working conditions. While studies have analysed aspects of job quality – such as high-strain roles and automation risk – none have considered the full range of job characteristics shaping workers’ experiences. We address this gap by analysing six key dimensions of job quality: skills and discretion, working time quality, physical environment, social environment, work intensity, and career prospects. To mitigate endogeneity concerns in self-reported mental health measures, we incorporate occupation-level data on working conditions from external sources. Our analysis leverages pension reforms enacted between 2011 and 2015 in 14 European countries, integrating data from the Survey of Health, Ageing and Retirement in Europe with job quality measures from the European Working Conditions Survey. Using a staggered difference-in-differences design, we estimate the causal impact of extended work horizons on depression while accounting for cross-country differences in labour markets and pension systems. Our findings confirm that delaying retirement negatively affects older workers’ mental health, especially in the case of larger increases in the retirement age. However, the magnitude of this impact varies depending on job quality. Workers in unsupportive social environments, precarious jobs with limited career prospects, or roles with low autonomy exhibit the largest increases in depression. In contrast, individuals in high quality jobs, particularly those with supportive workplaces, experience milder negative effects or even benefits. To prevent pension reforms from harming workers’ well-being, they should be complemented by labour market policies that promote sustainable working conditions, job adaptability, and lifelong learning. • Pension reforms delaying retirement increase late-career depression. • Job quality moderates mental health effects of delayed retirement. • Low-autonomy, insecure jobs with poor social conditions are the most harmful. • Supportive work environment and good job prospects alleviate mental health effects. • Aligning labour policies with pension reforms is essential for late-career health.