文章基本信息

标题：Effect of Psychological Factors on Retirement Preparedness Among Employees in the Insurance Sector in Kenya
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作者：Emma Aluodi ; Amos Njuguna
期刊名称：European Journal of Business and Management
印刷版ISSN：2222-2839
电子版ISSN：2222-2839
出版年度：2017
卷号：9
期号：24
页码：1-8
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：Various studies on retirement have focused on individual’s demographic characteristics when examining retirement preparedness. Such research concludes that people with specific characteristic tend to prepare adequately for their future old-age life. However, while demographic features are a major consideration in retirement decision, there are other variables that may affect retirement planning behaviour that are unrelated to an individual's demographic composition. Behavioral-economics research suggests that there may be a number of psychological factors that influence the way an individual prepare for retirement. The present study therefore sought to examine how psychological factors influence retirement planning behaviour among employees in the insurance sector in Kenya. Using explanatory research design, the study employed stratified proportionate random sampling method to select the respondents. Data was collected using questionnaires and analysed by use of one way ANOVA and Pearson correlational analysis. Hypotheses were tested by use of both, multiple linear regression and multinomial logistic regression. From the results, using self-assessment to measure retirement preparedness, there was significant relationship between retirement planning behavior and psychological factors However; insignificant result was found when retirement preparedness was measured using approximate amount of saving. The findings add to the developing literature on unearthing individual differences in retirement planning by providing an empirical focus on important psychological characteristics. K eywords : Retirement, Psychological factor
其他摘要：Various studies on retirement have focused on individual’s demographic characteristics when examining retirement preparedness. Such research concludes that people with specific characteristic tend to prepare adequately for their future old-age life. However, while demographic features are a major consideration in retirement decision, there are other variables that may affect retirement planning behaviour that are unrelated to an individual's demographic composition. Behavioral-economics research suggests that there may be a number of psychological factors that influence the way an individual prepare for retirement. The present study therefore sought to examine how psychological factors influence retirement planning behaviour among employees in the insurance sector in Kenya. Using explanatory research design, the study employed stratified proportionate random sampling method to select the respondents. Data was collected using questionnaires and analysed by use of one way ANOVA and Pearson correlational analysis. Hypotheses were tested by use of both, multiple linear regression and multinomial logistic regression. From the results, using self-assessment to measure retirement preparedness, there was significant relationship between retirement planning behavior and psychological factors However; insignificant result was found when retirement preparedness was measured using approximate amount of saving. The findings add to the developing literature on unearthing individual differences in retirement planning by providing an empirical focus on important psychological characteristics. K eywords : Retirement, Psychological factor