Journal Article

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

Adhikari, Bhupendra, Murari, Krishna, Shukla, Shalini

2021

نظرة عامة

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.

• الناشر: Emerald Publishing Limited,Emerald Group Publishing Limited
• موضوع: Behavior / Central government / Demography / Employees / Exploratory factor analysis / Financial literacy / Labor law / Marital status / Perceptions / Policy making / Private sector / Purpose in life / Questionnaires / Retirees / Retirement planning / Retirement policies / Role clarity / Social perception / Society / State government / Uncertainty