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Centre for Policy on Ageing | |
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Perceived retirement savings adequacy in Hong Kong
— an interdisciplinary financial planning model | | Author(s) | Kee-Lee Chou, Kar-Ming Yu, Wai-Sum Chan |
| Journal title | Ageing and Society, vol 35, no 8, September 2015 |
| Publisher | Cambridge University Press, September 2015 |
| Pages | pp 1565-1586 |
| Source | journals.cambridge.org/aso |
| Keywords | Pensions ; Savings ; Preparation [retirement] ; Multi disciplinary ; Social surveys ; Hong Kong. |
| Annotation | Using an interdisciplinary model of financial planning, the authors investigated the factors contributing to perceived adequacy of retirement savings among Hong Kong workers by replicating a previous study of American and Dutch workers. The model was also tested for age differences in the way in which the variables operated within the model. These questions were examined using data from a phone survey conducted with 999 Hong Kong workers in 2012. The authors examined three psychological factors (future time orientation, goal clarity and financial knowledge), three social support variables (early learning from parents, spousal support and friend support) and three institutional factors (quality of employer pensions, trust in banks and fund managers, and trust in the government), as well as retirement savings planning activity and perceived retirement savings adequacy. Path analyses were used to test the model for the whole sample, and separately for younger (N=437) and older (N=562) workers. Although a few age differences were found in the path analyses, the model was found to be useful in explaining the factors contributing to retirement savings planning and practices. How these findings differ from those of prior studies are discussed, and their theoretical and practical implications are assessed. (RH). |
| Accession Number | CPA-150814203 A |
| Classmark | JJ: JDD: GA: 3DM: 3F: 7DR |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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