91

This article seeks first to identify the determinants of the decision to retire in Europe and second to understand the differences between European countries. The first two waves (2004-2006) of the Survey of Health, Ageing and Retirement in Europe (SHARE) are used, rounded out by OECD data. The determinants are divided into three spheres: individual, contextual and institutional. In the individual sphere, age, health, level of education and size of household are important factors in the decision to retire. In the contextual sphere, working conditions and the employment status of the spouse are also determinants. The three areas of social protection (the institutional sphere) –employment, retirement and health– also have a strong influence on the decision to retire. These initial results highlight the multi-dimensional nature of the decision to retire. With respect to differences between countries, individual and contextual determinants together account only for a small share of differences (15.5%), whereas the three institutional systems account for 62.5% of differences. Consequently, differences between countries are not to be found in differences between individual socio-economic characteristics but in institutional features. Therefore, public policies that seek to increase the rate of senior employment should consider those two assumptions: first, the complexity of the determinants of individual decisions and their interactions needs to be taken into account; second, the main factors of convergence in Europe are to be found in systemic differences, taking all the systems of social protection into consideration.