McCormick, Barry and Hughes, Gordon
The influence of pensions on job mobility.
Journal of Public Economics, 23, (1-2), . (doi:10.1016/0047-2727(84)90072-0).
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In this paper we construct a model of the loss of firm-specific capital suffered by employees with occupational pensions who change job. The simplest loss function may be represented as the product of job tenure and years to retirement. Estimates of logit equations for individual job search in Great Britain suggest that the effect of pension status can be satisfactorily captured by this simple loss function. These equations and others for job turnover indicate that membership of an occupational pension scheme substantially reduces job mobility.
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