Many studies have shown that employees with firm-specific skills are more likely to be covered by employer-sponsored pension schemes than workers with general skills. Following this, this IZA paper tests the effect of trainings on retirement, and finds that workers who participated in firm-specific training in their early careers retire earlier than workers with a general training background. This indicates that shared investments in firm-specific training are embedded in implicit contracts that induce early retirement and suggests that training participation should be encouraged at a broader level than at the firm one.
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