Workers receiving oldage benefits in t
_{0}



Odds ratio

Standard error

Odds ratio

Standard error


Age (years)

50–54

1
 
1
 
55–59

1.747^{b}

0.268

1.748^{b}

0.267

60–64

4.094^{b}

1.342

3.746^{b}

0.887

>65
  
3.068^{b}

1.050

Sex

Males

1
 
1
 
Females

1.441^{a}

0.211

1.460^{b}

0.198

Δunemployment rate^{− c}

0.827^{b}

0.040

0.866^{b}

0.039

Log likelihood

−582.66
 
−640.32
 
LR

42.95 (df = 4)
 
57.99 (df = 5)
 
p value

0.00
 
0.00
 
McFadden’s adj. R
^{2}

0.036
 
0.043
 
Sensitivity

45.92%^{d}
 
53.02%^{e}
 
Specificity

68.46%^{d}
 
64.86%^{e}
 
Correctly classified

60.41%^{d}
 
60.40%^{e}
 
 The sample comprised individuals aged either 50–59 (females) and 50–64 (males) or workers aged 50+; annual data for the time period 2004–2010. Sample size for the workers aged 50–59 (females) and 50–64 (males)—927 observations; for the workers aged 50+—1010 observations

^{a}significant at the 5% level; ^{b}significant at the 1% level

^{c}Refers to a 1 percentage point change in the negative change in the unemployment rate

^{d}Cutoff level in the classification table 0.3571 (based on the share of the outflow in the whole sample)

^{e}Cutoff level in the classification table 0.3772 (based on the share of the outflow in the whole sample)
 Source: authors’ calculations; data sources: LFS