Perception about social and financial issues of life after retirement: A case study of academic staff of public sector universities in Lahore Pakistan

Saeed, Sara; Sarwar, Aamir

doi:10.1080/23311975.2016.1236432

Cited by 5 publications

(9 citation statements)

References 9 publications

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“…Instrument and measurements: The scale for social perspectives and financial perspectives have been taken from Saeed and Sarwar (2016), Obimba (2005), Fry and Debats (2006) and Kotter-Gr€ uhn et al (2010) with minor modifications to suits the context of study. Psychological social perception construct contained 16 items; financial perception has 17 items.…”

Section: Methodsmentioning

confidence: 99%

“…Studies such as (Hershey et al, 2007;Hira et al, 2009;Mansor et al, 2015;Moorthy et al, 2012;Mustafa et al, 2017;Oehler and Werner, 2008;Petkoska and Earl, 2009;Saeed and Sarwar, 2016;Shariff and Isah, 2019;Talib and Manaf, 2017) have explored the linkage between demographic characteristic and RPB of individuals. The common demographic variables that remained the interest of researchers in determining the RPB include age, gender, income, education, marital status and occupation.…”

Section: Demographic Variables and Rpbmentioning

confidence: 99%

“…The superior degree of education, income, fiscal literacy and goal clarity are the factors that affect RPB of the employees. On the other hand, another group of researchers found that age (Talib and Manaf, 2017;Chanchad and Singh, 2018), gender and marital status (Saeed and Sarwar, 2016) as insignificant factors in determining the preparation of RPB. Most of the Malaysians are mostly depending on pension scheme or employees provident fund (EPF) because this is a sole income during the post-retirement period for them (Shanmugam et al, 2017).…”

Section: Demographic Variables and Rpbmentioning

confidence: 99%

“…Employees in academic institutions prefer to invest in less fragile investment avenues like gold and precious metals as a measure to accumulate wealth to be used in postretirement life. The post-retirement planning of universities staff depends more on financial factor as compared to the social factor (Saeed and Sarwar, 2016). Due to poor pre-retirement planning, most people have to keep on working to meet their financial requirements even after retirement (Lim, 2003), and also, the workers believe that their post-retirement finances will not be sufficient to meet their needs (Swoboda, 1974).…”

Section: Financial Literacy Psychological Financial Perceptions and Rpbmentioning

confidence: 99%

“…Hence, the retirement phenomenon is subjective, which may mean different things to different people and populations. The people who perceive the retirement a positive phenomenon involve themselves with social and other activities which they could not do earlier due to their work engagement, pressure and unavailability of time; whereas for some individuals, retirement is a negative change in life that makes them less valuable in society (Saeed and Sarwar, 2016). Though, retirement planning is common in both cases, people tend to plan for their retirement whether they consider retirement positive or negative.…”

Section: Introductionmentioning

confidence: 99%

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Do psychological social and financial perceptions of post-retirement life and demography influence the retirement planning behaviour?

Murari

Shukla

Adhikari

2021

IJSE

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PurposeThe aim of this study is to understand the effects of psychological social and financial perceptions of post-retirement life and demographic characteristics on retirement planning behaviour (RPB) of the employees from different occupational sectors.Design/methodology/approachThe primary data from 400 employees in central government, state government and private sector is collected through a structured questionnaire. The questionnaire comprised of 43 items to measure social and financial perceptions and RPB along with demographic information. An exploratory factor analysis (EFA) and multiple linear regression (MLR) analysis are performed to find the significant variables of social and financial perceptions influencing the RPB.FindingsThe results of exploratory factor analysis revealed three principle components of social perceptions, four of financial perceptions and three of RPB. The role clarity, involvement, obligations, uncertainty and preparations have significant impact on RPB. This study found a moderate positive correlation between RPB and extracted factors of social and financial perceptions. The study confirms the significant effect of demographic variables such as age, marital status, occupational sector, income and education levels on RPB.Originality/valueThe study has number of implications for government and private sector organisations involved in offering the retirement planning solutions as well as to the employees. The stakeholders may take a note of the role of psychological social (role clarity and social involvement) and financial (financial obligations, uncertainty and preparation for post-retirement life) perceptions that influence RPB. The study also provides an insight to the policy makers for considering the demographic information such as age, education, marital status and income of the employees while designing/offering the choices of retirement plans to them. Further studies are recommended to validate the findings of this study in terms of testing the effect of psychological social and financial perceptions on retirement planning behaviour of the employees.

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Section: Methodsmentioning

confidence: 99%