Table 8 Impacts of retirement and reasons of retirement on mental health (Waves 2–4–5–6–7)

IVnormal

0.207

(0.0028)***

IVearly

0.200

(0.0032)***

Retired (β)

− 0.106

(0.025)***

− 0.306

(0.077)***

Retired due to aspirational motivations

− 0.126

(0.052)*

Retired due to positive circumstances

− 0.0326

(0.016)*

Retired due to negative circumstances

0.117

(0.032)***

Retired due to ambiguous reasons

0.0135

(0.051)

Age

− 0.242

(0.023)***

− 0.253

(0.023)***

0.0642

(0.0042)***

− 0.236

(0.033)***

Age × Age

0.00169

(0.00011)***

0.00176

(0.00011)***

− 0.000441

(0.000016)***

0.00150

(0.00013)***

Marital status

− 0.474

(0.038)***

− 0.480

(0.038)***

0.0163

(0.0052)**

− 0.479

(0.039)***

Number of children

0.0102

0.0110

− 0.00286

0.00713

(0.012)

(0.012)

(0.0016)

(0.012)

Vigorous activities

0.0425

(0.0052)***

0.0416

(0.0052)***

0.00388

(0.00069)***

0.0450

(0.0053)***

Moderate activities

0.122

(0.0073)***

0.123

(0.0075)***

− 0.00556

(0.00094)***

0.120

(0.0073)***

GDP growth

− 0.00724

− 0.00749

− 0.00237

− 0.00448

(0.0038)

(0.0038)*

(0.00050)***

(0.0039)

Unemployment rate

0.0158

(0.0022)***

0.0158

(0.0022)***

− 0.00133

(0.00030)***

0.0147

(0.0023)***

Constant

10.39

(1.16)***

10.72

(1.13)***

− 1.917

(0.22)***

10.81

(1.75)***

N

140,850

140,392

136,878

136,870