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1 – 10 of over 1000
Article
Publication date: 4 December 2023

Sheau-Ting Low, Li-Ting Neo, Weng-Wai Choong, Razlin Mansor, Siaw-Chui Wee and Jing-Ying Woon

The world population over the age of 60 is expected to increase from 900 million in 2015 to two billion by 2050. Retirement homes have emerged as a prominent housing alternative…

Abstract

Purpose

The world population over the age of 60 is expected to increase from 900 million in 2015 to two billion by 2050. Retirement homes have emerged as a prominent housing alternative and become a trend for the older adults; however, older population in Malaysia could have a negative view of retirement homes. Different generations could have different perceptions of the value of retirement homes. This study aims to explore the value of retirement homes across diverse age cohorts in Malaysia.

Design/methodology/approach

A qualitative approach is adopted for this study. Thematic analysis is used to analyse the interview transcripts obtained from semi-structured interviews.

Findings

The results indicated that baby boomers tend to have more negative values towards retirement homes, whereas Generations X and Y demonstrated more favourable and positive values for retirement homes.

Originality/value

This study serves as a useful reference for housing developers, policymakers and the management of retirement homes to better understand how different age cohorts value retirement homes, thereby encouraging relevant housing strategies to enhance the quality and support systems of retirement homes in society.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 29 November 2023

Thomas Korankye

Research shows that having student loan debt in retirement is associated negatively with life satisfaction, suggesting that student debt is a bane of retiree well-being. The…

Abstract

Purpose

Research shows that having student loan debt in retirement is associated negatively with life satisfaction, suggesting that student debt is a bane of retiree well-being. The rationale for this study is to determine the factors related to owing student debt in retirement, given the adverse effects on the well-being of retired households.

Design/methodology/approach

The study utilizes pooled cross-sectional data from the 2015 and 2018 U.S. National Financial Capability Study. The empirical analysis uses a sample of retired Americans aged 65 years and older (N = approximately 8,000) and estimates two-block logistic regression models to examine the effects of demographic, socioeconomic and behavioral factors on student loan indebtedness in retirement. A sensitivity analysis is performed for the subsample of retirees holding student debt for their children's education. Statistical interpretations use odds ratios.

Findings

The findings indicate that financial literacy, age, homeownership and high subjective financial knowledge are associated with a low likelihood of holding student loan debt in retirement. However, being Black, having postsecondary education, having difficulty covering expenses, having financially dependent children, having high-risk preferences and spending more than income increase the likelihood of holding student debt in retirement. The ensuing discussion will assist financial planners and educators identify practical ways to shape decisions regarding student loan debt in retirement.

Research limitations/implications

The amount of student loan debt is unavailable in the dataset for analysis. One cannot infer causal relations from the study. The factors examined do not reflect the time the student loan was obtained.

Originality/value

The study focuses on the determinants of student loan indebtedness among retired Americans rather than young adults or older adults on the verge of retirement. The paper enhances the understanding of student loan holdings in the decumulation phase of the life cycle. Many US individuals have low retirement savings from which they draw a retirement income. The more the student debt burdens on retired Americans, the greater the likelihood of outliving their resources and experiencing poverty.

Details

Managerial Finance, vol. 50 no. 4
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 21 November 2023

Cléverson Vasconcelos da Nóbrega and Diogo Henrique Helal

The article aims at analyzing the social representations of retirement in two different groups of professors – pre-retired and retired – from a public higher education…

Abstract

Purpose

The article aims at analyzing the social representations of retirement in two different groups of professors – pre-retired and retired – from a public higher education institution. The goal is to explore the experiences, reflections, beliefs, and attitudes originated from the transition to retirement.

Design/methodology/approach

The research, of exploratory and descriptive nature, was guided by the Social Representation Theory (SRT) and took a qualitative approach. 16 professors were interviewed, 8 in each group (pre-retired and retired professors), using semi-structured interviews that followed a script designed to discover the main aspects of the transition to retirement.

Findings

Three figurative cores were raised – the financial aspect, the centrality of work, and the will to continue contributing, and the unpreparedness for retirement – and testimonies have shown heterogeneous representations. The study observed that although relevant, the bonus for continued services is not the main determinant for professors to continue working in the university.

Originality/value

The results of this study indicate the need to treat retirement as a complex and multidimensional process, offering a fresh perspective on the social representations of retirement in the academic context. The use of the Social Representation Theory to explore these perspectives adds to the originality of the approach, highlighting the multifaceted nature of the retirement process in this specific professional group.

Details

International Journal of Educational Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0951-354X

Keywords

Book part
Publication date: 5 February 2024

Katrina Pritchard, Rebecca Whiting and Cara Reed

Retiring from work used to signify the end of paid employment and a transition to focus on life outside the workplace. From this perspective, the work-life interface may have no…

Abstract

Retiring from work used to signify the end of paid employment and a transition to focus on life outside the workplace. From this perspective, the work-life interface may have no relevance for the retired. However, recent changes, particularly resulting from the COVID-19 pandemic, suggest that conceptualizations of both retirement and the work-life interface are more fluid, ambiguous, and complex. In this chapter, we first set the scene, reviewing how and why the traditional concept of retirement has changed so dramatically. Drawing on empirical data from contemporary media, we then consider how the current experience of the older worker and retiree are being reframed in neoliberal terms, emphasizing individual responsibility to remain not just fit and healthy but also productive, through a wide range of activities. We then focus on the impact of COVID-19, highlighting how pre-pandemic structural inequalities have been exacerbated, resulting in a range of responses in both levels of retirement and work by older people. We conclude by suggesting that retirement and its work-life interface need to recognize lived experience as dynamic, messy, and varied and implicated in wider structural features of both the economy and society.

Details

Work-Life Inclusion: Broadening Perspectives Across the Life-Course
Type: Book
ISBN: 978-1-80382-219-8

Keywords

Article
Publication date: 17 July 2023

Andrea Gaye Fenton, Sean Sands, Carla Ferraro, Jason Ian Pallant and Eraj Ghafoori

Although saving for retirement is critical, many people are reluctant to contribute money now in anticipation of a future event, namely their retirement. This study aims to…

Abstract

Purpose

Although saving for retirement is critical, many people are reluctant to contribute money now in anticipation of a future event, namely their retirement. This study aims to investigate the interaction effect between message frame and message appeal on individual preparedness for retirement, specifically in terms of an individual’s willingness to contribute to retirement savings.

Design/methodology/approach

Across three studies, the authors show that message frames with a gain-orientation are more persuasive when self-oriented rather than oriented towards socially distant others. In Study 1, the authors use a 2 (gain-loss message frame) × 3 (self, close-other, distant-other message appeal) experimental design with ad copy manipulating the scenarios. In Study 2, the authors replicate and extend Study 1 to validate the findings. In Study 3, the authors overlay life-stage to determine how consumers differ in terms of their willingness to contribute to retirement.

Findings

Across the studies the authors find that message frame and message appeal influence consumer preparedness for retirement. The authors investigate these effects in terms of willingness to contribute to retirement savings (Studies 1–3) as well as satisfaction with retirement savings, anticipated retirement enjoyment, positive emotions and negative emotions (Studies 1 and 2).

Originality/value

While a substantive amount of research has been devoted to retirement planning, gaps remain as to the efficacy of communication message strategies on influencing retirement preparedness. This research seeks to contribute towards this literature stream by uncovering the ways in which individuals can be encouraged to contribute towards retirement planning.

Details

Journal of Social Marketing, vol. 13 no. 4
Type: Research Article
ISSN: 2042-6763

Keywords

Article
Publication date: 2 June 2023

Sudip Gupta and Jayanta Kumar Seal

The purpose of this study is to find out the effect of consumption tax on savings behavior especially on the people who are close to their retirement.

Abstract

Purpose

The purpose of this study is to find out the effect of consumption tax on savings behavior especially on the people who are close to their retirement.

Design/methodology/approach

The authors analyze the response in spending and retirement saving using a difference-in-differences regression methodology. The authors use the year since the Public Provident Fund (PPF) enrollment date for each individual as a random assignment to identify the service tax policy's causal impact. Therefore, this variable is a continuous variable defined as an individual's age until the end of the restrictions when people can withdraw money from their retirement savings account PPF without any penalty. The treatment variable is the service tax shock (increase in service tax) that happened effective 1st April 2015.

Findings

The authors find a significant effect of a change in the service tax rate on individuals' spending and PPF saving behavior. On average, individuals lower their consumption by about 14% and increase their PPF savings by 16% in response to the increase in the service tax rate. The authors find substantial heterogeneity in effect across different types of individuals. The effect is more pronounced for people closer to their retirement and needy people (defined as individuals with low traditional savings account balances).

Research limitations/implications

The authors studied the effect of consumption tax on one category of savings (PPF) only. There are other savings instruments available in India. The data for those were not available to us.

Practical implications

This paper not only throws light on the consumption and savings behaviour of the individuals, but will also help the policy maker for framing appropriate fiscal policy.

Originality/value

Using a unique and proprietary data from a large bank in India, the authors analyze the effect of a tax policy change on households' consumption and retirement savings behavior. The authors find that households reduce their consumption by 14% and increase their voluntary retirement savings (Public Provident Fund aka PPF) by 16% in response to an increase in the service tax policy. Individuals close to their retirement age (55 years of age and above) and without any withdrawal restrictions from their PPF account tend to reduce their expenditures more and save more. Individuals with financial constraints and withdrawal restrictions do not reduce their expenditures significantly. To the best of the authors’ knowledge no study was done on this.

Details

Managerial Finance, vol. 49 no. 11
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 22 June 2023

Godfred Matthew Yaw Owusu, Regina Mensah Onumah and Amanda Efua Essel-Donkor

This study aims to present a bibliometric analysis of research on pensions and retirement systems over the past 100 years. The study examines the intellectual structure and…

Abstract

Purpose

This study aims to present a bibliometric analysis of research on pensions and retirement systems over the past 100 years. The study examines the intellectual structure and mapping in the field of pension and retirement; uncovers growth and publication patterns; identifies thematic areas in the pension domain; provides analysis of gaps; and recommends direction for future research.

Design/methodology/approach

The study sourced data from the Scopus database between 1910 and 2022 covering a 112-year period. Employing bibliometric techniques, a total of 6,661 papers were selected and analyzed using SPSS and VOSviewer software.

Findings

Results from the cluster analysis suggest research in this domain has focused on five thematic areas namely pension plans, retirement systems, pension schemes, demographic, and socio-economic determinants of pension and retirement decisions. The authors show from the overlay visualization output how these themes have evolved within the period under review. The study further presents major developments, conclusions and suggestions for future research directions based on insights obtained from the research themes to enrich the field of pension and retirement planning.

Research limitations/implications

The study is useful for informing researchers and practitioners on the state of the pension domain, and findings are useful avenues in developing the research field.

Originality/value

The study adds to existing literature on pension and retirement by offering an analysis of the state of pension research over a century and highlighting areas for future research.

Details

Journal of Economic Studies, vol. 51 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 14 September 2022

Amberyce Ang, Cynthia Chen and Kalyani Mehta

The practice of mandatory retirement age implies that some retirees may be forced to retire or are compelled to continue working. Retirement would then be determined by age and…

Abstract

Purpose

The practice of mandatory retirement age implies that some retirees may be forced to retire or are compelled to continue working. Retirement would then be determined by age and not by their personal choices. Against this backdrop, this study aims to understand the associations retirement transition types (voluntary or involuntary retirement) with retirement satisfaction and life satisfaction.

Design/methodology/approach

This mixed research study seeks to understand how the retirement transition type in the form of voluntary or involuntary retirement is associated with retirement satisfaction and life satisfaction. In this study, 103 Singapore baby boomer retirees were interviewed and a questionnaire was administered.

Findings

Results showed that voluntary retirement and high social–emotional resources had significant positive associations with retirement satisfaction, and that financial resources and retirement satisfaction had significant associations with life satisfaction.

Research limitations/implications

Based on this study’s findings, a synthesized conceptual model was designed to illustrate the different roles and associations of resources with retirement satisfaction and life satisfaction. A retirement trajectory model was also created to cater for policy design at various stages of the retirement experience.

Practical implications

The retirement experience is multi-dimensional. It is highly relevant to almost every older adult. The relevance of this topic also meant that the findings in this study carry a potentially higher impact. Using the life span and multi-level perspectives to examine retirement, the findings in this study invite several timely human resources (HR) and national policy reviews. This paper proposed HR policy practices at three main points – late-career, retirement and bridge employment.

Originality/value

A unique feature of this study was to differentiate and compare “retirement satisfaction” with “life satisfaction”, and the differentiation of “retirement transition”, “retirement adjustment” and the “retirement trajectory”. The differentiation of these concepts can better shape policies targeted at different phases of the retirement experience. In addition, the resource-based dynamic perspective was used to identify and understand the types of resources that have significant associations with retirement and life satisfaction. For example, social–emotional resources were found to be significantly associated with retirement satisfaction, and financial resources were found to be significantly associated with life satisfaction.

Details

Working with Older People, vol. 27 no. 3
Type: Research Article
ISSN: 1366-3666

Keywords

Article
Publication date: 9 February 2023

Preeti Tarkar

The research paper investigated the intentions of superannuated persons toward the post-retirement work. This study aims to examine the role of attitude, job satisfaction and…

Abstract

Purpose

The research paper investigated the intentions of superannuated persons toward the post-retirement work. This study aims to examine the role of attitude, job satisfaction and education in post-retirement work intensions.

Design/methodology/approach

A questionnaire was administered for collecting the data. It was submitted to the 300 government retirees. Data was analyzed by using Process macro. Intention toward work was used as an outcome variable. Attitude as a predictor variable, job satisfaction as a mediator and education as a moderator variable were used. The impact of attitude on intentions toward work was examined through job satisfaction and education.

Findings

The findings of the research showed the significance of experimented model. Therefore, the positive effect of attitude in determining the intentions has been proved and the effect of mediator-moderator was also significant.

Originality/value

The study is related to retired persons only and suggested that the level of education plays a major role in determining work intentions after retirement. This study addressed a research gap about how the interaction of job satisfaction and education affects the association among attitude and work intentions of superannuated persons.

Details

Working with Older People, vol. 27 no. 2
Type: Research Article
ISSN: 1366-3666

Keywords

Article
Publication date: 8 November 2022

Liam Foster, Sam Wai Kam Yu and Ruby Chui Man Chau

This article aims to link discussions of the role of earnings-related pension measures with time in Hong Kong (HK) and the United Kingdom (UK). It presents a new conceptual…

Abstract

Purpose

This article aims to link discussions of the role of earnings-related pension measures with time in Hong Kong (HK) and the United Kingdom (UK). It presents a new conceptual “time-based framework” to explore two related types of government response to the way people accumulate pension incomes through participation in paid work. The first is to consider governments' perceptions of appropriate time in work and retirement. The second is to consider how governments use pension measures to influence the connection between the amount of time people spend in paid work and retirement.

Design/methodology/approach

This is a conceptual paper. The time-based framework is developed using literature concerning discretionary time and the social construction of time. To explore the empirical significance of this framework, the authors discuss how it can be applied to the analysis of earnings-related pension measures in HK and the UK.

Findings

The evidence generated from the discussion of the earnings-related pension measures in HK and the UK shows that pension policies can serve both as a financial and time instrument. At the same time as influencing the connection between the amount of time people spend in paid work and the pensions they can accumulate, pension policies can be used to convey the government's views on important time issues, namely the appropriate length of time in work and retirement, and the relative value of the time spent in paid work and providing informal care.

Originality/value

A new framework is developed to explore the connection between the studies of earnings-related pension measures and time, which is an understudied area.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 9/10
Type: Research Article
ISSN: 0144-333X

Keywords

1 – 10 of over 1000