Table 9 Impacts of retirement and reasons of retirement on mental health (Waves 4–5-6–7)

IVnormal

0.177

(0.0031)***

IVearly

0.149

(0.0035)***

Retired (β)

− 0.0869

(0.030)**

− 0.409

(0.12)***

Retired due to aspirational motivations

− 0.137

(0.057)*

Retired due to positive circumstances

− 0.0297

(0.017)

Retired due to negative circumstances

0.110

(0.036)**

Retired due to ambiguous reasons

0.0257

(0.056)

Age

− 0.340

(0.048)***

− 0.344

(0.047)***

0.0836

(0.0058)***

− 0.288

(0.051)***

Age × Age

0.00177

(0.00018)***

0.00180

(0.00018)***

− 0.000481

(0.000022)***

0.00146

(0.00021)***

Marital status

− 0.536

(0.046)***

− 0.543

(0.046)***

0.0132

(0.0059)*

− 0.527

(0.047)***

Number of children

0.0158

0.0164

− 0.00148

0.0132

(0.013)

(0.013)

(0.0016)

(0.013)

Vigorous activities

0.0367

(0.0058)***

0.0364

(0.0057)***

0.00361

(0.00070)***

0.0381

(0.0058)***

Moderate activities

0.104

(0.0081)***

0.105

(0.0083)***

− 0.00364

(0.00094)***

0.101

(0.0082)***

GDP growth

− 0.00928

− 0.00969

− 0.00359

− 0.00762

(0.0041)*

(0.0040)*

(0.00048)***

(0.0041)

Unemployment rate

0.0181

(0.0037)***

0.0176

(0.0037)***

− 0.00306

(0.00044)***

0.0172

(0.0037)***

Constant

16.56

(2.80)***

16.63

(2.77)***

− 2.895

(0.33)***

14.72

(2.88)***

N

121,535

121,157

118,862

118,862