We investigate the effect of volunteering and pensions on subjective wellbeing (SWB) of elderly using wave 6 of Survey of Health, Aging and Retirement in Europe (SHARE). This is the first study to consider volunteering and pensions simultaneously as a determinant of SWB among elderly across countries. We find that the effect of volunteering on SWB varies widely across countries. In some countries both effects are comparable, in other countries pensions have a larger effect on SWB. In general, effects are larger in South and East. High European pensions may be unsustainable in the long run–we argue that promotion of volunteering is one way to increase elderly subjective wellbeing amidst tightening budgets. The study is cross-sectional and correlational–we do not claim causality.

中文翻译：

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志愿服务和养老金对老年人主观幸福感的影响-是否存在跨国差异？

我们使用《欧洲健康，老龄与退休调查》（SHARE）的第6波调查了志愿服务和养老金对老年人的主观幸福感（SWB）的影响。这是第一项同时考虑志愿者和养老金作为决定各国老年人SWB的因素的研究。我们发现，志愿服务对SWB的影响因国家而异。在某些国家，这两种影响是可比的，在其他国家，养老金对社会福利局的影响更大。通常，南部和东部的影响更大。从长远来看，高额的欧洲养老金可能不可持续-我们认为，在预算紧缩的情况下，促进志愿服务是增加老年人主观幸福感的一种方法。该研究是横断面的和相关的-我们不主张因果关系。