Attitudes of Singaporean Chinese towards Retirement Planning

Abstract

While there is a strong research tradition in exploring attitudes to and behavior in relation to retirement planning in Western countries, (e.g., Grable and Lytton, 1997; Jacobs-Lawson and Hershey, 2005) there is less research in Asian societies. Not only are we unaware of whether demographic factors, such as marital status, income level, level of education and gender, have a different impact in Asian countries, we also do not know the impact of Asian cultural values on retirement planning. Using a sample of 613 working Singaporean Chinese between the ages of 20 and 59 we establish that Chinese cultural heritage such as the belief in luck, destiny and the belief that children will support their elderly parents are not important. However, feng shui is statistically significant in this study.

Research status and localization development of retirement planning

“…前所未有的负担 (柳如眉, 柳清瑞, 2016)。在西方, 许多婴儿潮一代的人, 特别是没有退休规划的人, 面对储蓄不足以及身体机能的不断下降, 过着长 期贫穷、幸福感低的退休生活 (Gurd & Or, 2011;Leandro-França, Murta, Hershey, & Martins, 2016;Lee, 2003) (Dorfman, 1989;Glass & Flynn, 2000), 拓展到包括健康规划、心理规划、 人际休闲规划、居住规划、工作规划等(Noone, (Glass & Kilpatrick, 1998;Kemp, Rosenthal & Denton, 2005;Phua & McNally, 2008;Topa, Moriano, Depolo, Alcover, & Morales, 2009)。 综上, 退休规划是个体根据自身的资源和退 休后的需要在财务、健康、心理、居住、人际休 闲、工作等领 域做出认知或 行为上的规划 (Lee, 2003;Noone et al, 2010;Petkoska & Earl, 2009; Yeung, 2013)。这些准备可以帮助退休人员建立现 实的退休期望, 并设立清晰而长远的目标, 从而 促进退休转变与适应 (Topa et al, 2009)。 2.2 退休规划的领域 早期研究认为, 退休规划的主要领域涉及财 务 规 划 、 居 住 规 划 、 活 动 规 划 和 工 作 规 划 (Szinovacz, 1982)。之后研究者们相继提出健康规 划、心理规划、社交规划、休闲规划、生活方式 规划 (Lee, 2003;Mock & Cornelius, 2007;Petkoska & Earl, 2009)…”

“…例如"健康生活方式"、"生活成本"、"娱乐活动" 等。 采用李克特 5 点计分, 从"1"代表"投入很少努 (1)性别。很多研究发现, 女性在退休规划水 平 上 显 著 低 于 男 性 (Glass & Kilpatrick, 1998;Heraty & McCarthy, 2015;Moen, Sweet, & Swisher, 2005;Noone et al, 2010), 且女性倾向于将自己的 退休计划活动与其丈夫的退休计划活动结合在一 起 (Moen et al, 2005) (Anderson et al, 2000;Glass & Kilpatrick, 1998), 如已婚女性在退 休 储 蓄 水 平 上 远 高 于 离 婚 或 未 婚 女 性 (Glass & Kilpatrick, 1998)。但很多研究并没有发现婚姻状 况与退休规划有显著相关, 尤其是在财务规划领 域 (Gurd & Or, 2011;Lee, 2003;Noone et al, 2009;Reitzes & Mutran, 2004) 素得到很多研究者的关注 (Hershey et al, 2007;Petkoska & Earl, 2009;Yang & Devaney, 2011;Earl, Bednall, & Muratore, 2015) (Moorthy et al, 2012), (Gall, Evans, & Howard, 1997)。退休满意度从退休规划早期研究开始就是 其重要的结果变量 (Dorfman, 1989) (Reitzes & Mutran, 2004;Topa et al, 2009;Wang, 2007) (Jung, 2011;Lee, 2003), 美国格外关注乡村人 民 的 财 务 规 划 (Dorfman, 1989;Glass & Flynn, 2000), 德国格外关注工作规划等 (Wöhrmann et al, 2013; 2014)。不同国家的退休规划很多时候会呈 现出"别具一格"的影响因素、内容形式、过程与 (Froidevaux et al, 2016;Hershey et al, 2003;Heraty & McCarthy, 2015;Leandro-França et al, 2016;Lee & Law, 2004…”

“…。Kemp 等(2005)认为, 婚 姻状况对于退休规划可以是一个促进因素, 也可 以是一个抑制因素。 (4)教育程度。受教育程度高的人更可能参与 财务规划(Gurd & Or, 2011;Jung, 2011;Moorthy et al, 2012), 这与他们拥有更多的资金和信息资源 有关。并且,Dendinger, Adams 和 Jacobson (2005) …”

Wealth Management and Financial Advisory Services in the Asia-Pacific Region

“…There are some papers focusing on the industry in a particular country such as the development of financial planning as a profession amidst government regulation in Australia (Cull, 2009) and attitudes toward retirement in Singapore (Gurd and Or, 2011) or in a few countries such as the industrial organisation and institutional development of the asset management industry in Asian developing economies specifically China, Indonesia, Korea, Malaysia, Singapore, Philippines, and Thailand (Walter and Sisli, 2007).…”

“…However, majority is not prepared for retirement financially because their fund balances are inadequate. Interestingly, among Singaporean-Chinese, Chinese cultural heritage such as belief in luck, destiny and that children will support their elderly parents are not important as far as retirement planning is concerned (Gurd and Or, 2011). Asians generally believe that the only way to ensure they will save for retirement is if it is required by law.…”