A qualitative investigation into financial well-being and social capital of retired government school teachers
Abstract
Purpose
The purpose of this study is to investigate the financial well-being and social capital of Indian retirees. The paper investigates the extent of subjective financial well-being, the dependence on debts and the extent of bridging and bonding social capital of retirees with similar retirement pensions to understand the main issues they face.
Design/methodology/approach
Semi-structured interviews were conducted with 32 retired government schoolteachers. Two individuals transcribed the interviews after a pilot study, which helped remove repetitive responses. After ensuring the authenticity of the transcripts, the data was analyzed using interpretive phenomenological analysis.
Findings
The study's key findings reveal that retirees, armed with a clear understanding of their retirement income, exhibit a sense of financial control. At the same time, the presence of debt and the potential for high healthcare expenses adversely impact their subjective financial well-being. In terms of social capital, retirees predominantly rely on support from close-knit communities of friends and neighbors, as against their children. Additionally, retirees who migrate from their native places encounter challenges in establishing bridging social capital.
Originality/value
This study contributes to the ongoing discourse on financial well-being, specifically within the context of vulnerable groups such as retirees in India, where the absence of a state-supported retirement system adds a distinctive dimension. Against the backdrop of India's traditional societal framework, the research extends the existing literature by delving into the nuanced effects of evolving social dynamics on the social capital of retirees.
Keywords
Acknowledgements
Erratum: It has come to the attention of the publisher that the article, Hardeep Singh Mundi, Shailja Vashisht and Manish Rao “A qualitative investigation into financial well-being and social capital of retired government school teachers”, published in Qualitative Research in Financial Markets, Vol. ahead-of-print No. ahead-of-print, was published with incorrect affiliation information for Hardeep Singh Mundi and Manish Rao. The correct affiliation information is Department of Finance, Institute of Management Technology Ghaziabad, Ghaziabad, India and Varanasi, India respectively. The errors were introduced in the editorial process and has now been corrected in the online version. The publisher sincerely apologises for these errors and for any inconvenience caused.
Citation
Mundi, H.S., Vashisht, S. and Rao, M. (2024), "A qualitative investigation into financial well-being and social capital of retired government school teachers", Qualitative Research in Financial Markets, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/QRFM-10-2023-0250
Publisher
:Emerald Publishing Limited
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