Retirement Life Research Articles

Perceived occupational engagement and gaps among community-dwelling older adults in Malaysia

Introduction: Engagement in occupations is an essential aspect of daily life among older people. Changes in age are often associated with changes in the pattern of engagement in occupations. However, the relationship between the actual and desired activities pattern of occupational engagement remains unclear among community-dwelling older adults in Malaysia. This study aimed to determine occupational engagement for each activity and occupational gaps related to domains among the older adults. Method A cross-sectional study was conducted among 335 community-dwelling older people, using the Malay version of the Occupational Gaps Questionnaire (OGQ-M). Findings: The findings indicate that there are significant differences in occupational engagement across domains: leisure ( p < 0.001), social ( p = 0.04) and total occupational domains ( p < 0.001). There is a significant difference between actual and desired performed activities in doing laundry ( p = 0.031), outdoor activities ( p < 0.001), listening to the radio and watching television/video ( p = 0.003), helping and supporting others ( p = 0.019), travelling for pleasure ( p < 0.001) and performing voluntary work ( p = 0.025). Conclusion: In conclusion, OGQ is a useful tool in screening the occupational gaps among community-dwelling older adults. Age, health and continuity of roles and responsibility as caretakers of the family are several factors that lead to higher occupational gaps among the older people in the community. With the emergence of occupational engagement and gaps, advancements in health care delivery are necessary for retirement planning among community-dwelling older adults in enhancing active participation towards better retirement life.

ANALYSIS ON INFLUENCING FACTORS AND EMOTIONAL REGULATION OF CHINESE PROFESSIONAL WOMEN'S RETIREMENT DECISION-MAKING

BackgroundThe gender division of labor in the traditional family structure is still a common phenomenon, that is, women bear most of the burden of family work. The coexistence of work pressure and family pressure makes this burden heavy. This paper aims to explore which factors and to what extent affect the retirement decision-making and psychological problems of contemporary Chinese professional women.Research Objects and MethodsThis paper takes female workers as the research sample and obtains 1383 effective cases. This paper uses SPSS 17 0 multiple logistic regression analysis was conducted on the survey data to analyze the variables affecting the retirement intention of female employees. In order to study the impact of emotional regulation on female employees' retirement decision-making, this study also conducted a questionnaire survey on the sample. ① Personal basic information questionnaire: the contents mainly include the gender, email, mobile phone number, age, history of epilepsy or epilepsy, previous mindfulness practice experience and major events in recent life. It is mainly used for screening of subjects. ② Emotion regulation self-efficacy scale: the third version of the scale revised by Caprara in 2008 is usually used internationally. However, in the process of domestic testing, although the scale has good applicability, there are also some problems due to different cultural backgrounds. Based on this situation, Tian Xueying (2012) and others revised and tested the 2008 version of the scale in China in combination with China's social and cultural background. The results show that the revised scale has good applicability. This study will use Tian Xueying's revised scale for testing. ③ Happiness index scale: the happiness index scale compiled by Campell, including two questionnaires of overall emotion index and life satisfaction, has 9 items, including 8 pairs of emotional words and one life satisfaction question. The scale adopts 7-level scoring. The higher the score, the higher the happiness of the subjects.ResultsIn terms of education level, respondents with high school education or below were less likely to retire early than those with bachelor's degree or above. From a health perspective, the worse the indicated health level, the more respondents tend to retire early. Taking into account family factors, the more dependants and independent sources of income, the more likely these women are to choose early retirement. With regard to work factors, women working in public institutions and enterprises are more likely to delay retirement than women in other occupations. People with low work intensity are more likely to delay retirement than those with high work intensity. Dissatisfied women are less likely to delay retirement than women who are generally satisfied with their job happiness. In terms of retirement expectation, women who choose to take care of their families or participate in recreational activities are more likely to retire than women who choose to continue working after retirement.ConclusionUnder the influence of the conflict between the pressure of traditional gender roles and the transformation of modern society, Chinese women must balance the labor constraints in the family, social field and workplace. The results of this study show that the decision to participate more in family work will eventually reduce these women's participation in social work and lead them to retire earlier than men. The study suggests that we should fully understand the important position of women's emotional factors in retirement decision-making, actively promote the transformation of women's life role after retirement, pay special attention to their own life attitude and healthy behavior, and be a healthy self-manager, coordinator and collaborator. According to the psychological characteristics of these groups, the social stratum should actively and flexibly organize rich and colorful activities, strive to create a relaxed and harmonious living atmosphere, create friendly and mutually beneficial emotional family relations, encourage and guide these groups, make their psychology in the best state, and promote the healthy development of their good cognition and retirement life.AcknowledgementsSupported by a project grant from Ministry of Education in China (Grant No.14JZD026).

RETIREMENT PREPAREDNESS FOR FINANCIAL SUSTAINABILITY AMONG STAFF OF TERTIARY INSTITUTIONS IN EDO STATE.

The study assessed Retirement preparedness for financial sustainability among staff of tertiary institutions in Edo State. Retirement planning is a life-long process. The study adopted the descriptive survey design. Three research questions guided the study. The population for the study was 14,437 comprising academic and non -academic staff of three Universities in Edo State. Multistage random sampling technique was used to determine the sample size of 1156 staff for the study. The instrument for data collection was a structured questionnaire validated by three experts while the reliability coefficient of 0.88 was obtained using the Cronbach Alpha reliability technique. Data was analyzed using descriptive statistics. The results showered that Majority of the staff perceived retirement as a long-life process involving financial planning,the study also showed that the respondent perceived that it is necessary to plan for retirement. Findings showed that the level of staff preparedness for retirement is not adequate, and that the major source of incomeat retirement would be interest from target savings and other investment. Based on the findings, the study recommended, that Staff of tertiary institutions should be well informed on retirement and its processes through seminars/workshop as this will increase their perception on retirement and employees should seek to acquire knowledge on financial planning, financial management and entrepreneurial skills as these will help them to adjust to retirement life.

ENTREPRENEURIAL SKILLS DEVELOPMENT FOR FINANCIAL SUSTAINABILITY IIN RETIREMENT

Retirement is a period that everyone must get into after a particular period of a successful career inpaid employment of organization especially in igovernment owned establishments in addition, there islife after retirement that must be sustained to avoid different maladjustment issues iniemotional,social and psychological well-being. In iorder ito ensure that retirement becomes a period of wisdom,relaxation and happiness, entrepreneurship skill is needed for a sustainable retirement among retirees.While in still employment sector the ineed for skill acquisition is non-negotiable, for sustainabilityin retirement. This paper therefore Focus on concept of retirement, retirement anxiety andentrepreneurship, reasons for retirement, areas of entrepreneurship development of entrepreneurshipskills in ithe following areas: skill acquisition/development, skill deployment, Skill management,financial and personnel management, organizational management and innovation. Suggestions weremade on how these areas can be developed and managed for a sustainable retirement life.

Robo Tontines

Robo advisors provide financial advice and manage investment portfolios, using online software. However, they often do not give advice concerning the decumulation phase of retirement planning. Tontines are financial products that provide a stream of income for life in retirement and serve as an alternative to annuities. They are an old product that fell out of favor but is making a comeback. They differ from annuities because they are not guaranteed and, therefore, incur lower costs. The benefits they provide vary over time depending on the mortality experience of the members and the financial market experience of the investments. This article proposes a combination of these two innovative products in the form of a robo tontine—that is, a tontine provided by robo advisors. We argue that robo advisors would be well suited to provide tontines for both supply and demand reasons. They are skilled in developing and managing financial products, and they have clients who will need help with the paydown phase of their retirement investments.

Pre-retirement counselling services for employees: The case of two public sector organisations

Among other things, employers owe it a responsibility to capacitate their employees towards an enhanced livelihood after retirement. Yet, there seemed to be an inadequate scientific investigation on what the public sector organisations do to achieve that end. To fill this knowledge gap, this study set out to unravel the pre-retirement counselling services that two public sector organisations render to their employees. A cross-sectional survey design was used to guide the conduct of the study. A sample size of 368 respondents was obtained by using stratified and simple random sampling techniques. The questionnaire was the main instrument employed for data collection, which had a reliability coefficient of 0.87. The outcomes of the survey disclosed that there exist inadequate pre-retirement counselling services for employees of the organisations. There is, however, a statistically significant difference in the pre-retirement counselling services that the two organisations render for their employees. The pre-retirement services provided for the Ghana Education Service (GES) employees seem to be more than those offered to the employees of Ghana Health Service (GHS). In view of the inadequate pre-retirement counselling services for the employees of both organisations, it is recommended that more should be done by the organisations on the pre-retirement counselling for their employees to enhance their preparation for and eventual retirement life.

What do I make of the rest of my life? Global and quotidian life construal across the retirement transition

Retirement means relinquishing the daily structure that work provides and the career-dependent meanings that it offers life narratives. The retirement transition can therefore involve contemplating both how to spend newly-freed daily time and the implications of retirement for one’s life narrative. We investigate how American professionals construe their working and retirement lives, in a qualitative study drawing on 215 interviews with 120 participants, including 12 interviewed longitudinally throughout their years-long retirement transitions. We identify two orthogonal dimensions for contemplating the work and retirement domains of one’s life – global and quotidian life construal – and four basic modes of cognition that arise from variability across these dimensions. We induce a theoretical model describing how construal of working life prefigures construal of retirement life, which then shapes the retirement life experience. This study contributes to construal level theory, narrative psychology, and the literatures on retirement transitions and the meaning of work.

Lifestyle as a Predictor of Socio-Economic Status in Retirement

Most studies on retirement planning focus on preserving money and accumulating wealth and ignore the lifestyles of individual employees. This study promotes a discussion on lifestyle as a predictor of socio-economic status in retirement. Based on 236 pensioners from the Busoga sub-region, we used ‘the way of living’ to indicate lifestyle. We used household expenditure, access to healthcare, and housing quality to indicate socio-economic status. We used descriptive measures to report on lifestyle and Spearman’s correlation coefficient to document the relationship between workers’ lifestyle and socio-economic status in retirement. Strong attachments to family and intimate relations during one’s working life predict a satisfying retirement life. Civil servants who avoid harmful substances and exercise regularly are likely to retire in good health. There is a moderate and significant association between lifestyle and socio-economic status among civil servants in Uganda. Supervisors and human resource officers in government agencies and departments should conduct regular workshops to help government workers build strong attachments to their families, friends, social groups, and communities. We provide a solid foundation for working individuals to always reflect on the quality of their relations with their families, friends, social groups, and communities. This study contributes to the retirement planning research by shifting the focus to lifestyle, arguing that all forms of saving and financial planning for the future hinge on an individual worker’s lifestyle.

THE FACTORS INFLUENCING RETIREMENT PREPARATION AMONG GEN Y IN MALAYSIA

Preparing for retirement is one of the most important elements of a comfortable post- retirement life. The purpose of this study is to investigate the factors that influence the preparation towards retirement among Gen Y in Malaysia. In particular, this research investigated the relationship between demographic variables, attitude, subjective norms, perceived behavioral control, individual differences, and preparation towards retirement. This study used a convenience sampling method and involved Gen Y who are aged between 24 and 41 years old. Questionnaires were used as an instrument in this study. All the data was gathered from 384 respondents through an online survey. The questionnaire included the demographic profile of respondents and variable-related questions. This study uses the TPB as its main overarching theory, as well as life cycle hypothesis, symbolic interaction theory and prospect theory to frame its exploratory conceptual framework that explains the retirement preparation. The structural equation model predicts that attitudes, perceived behavioral control, and individual differences are positively correlated with preparation towards retirement among Gen Y, while demographic variables and subjective norms have no positive correlation. As a result of this study, Gen Y and other parties involved will realize that early preparation is crucial to sustaining after retirement. This research will benefit future researchers, government, insurance industries, and investment companies in gaining a better understanding of the factors that influence the preparation towards retirement. Finally, the article discusses the implications of the study to theory and practice; limitations, and recommendations for future research.

A qualitative exploration of attitudes to walking in the retirement life change

BackgroundWalking is a simple activity that could help to reduce the prevalence of chronic diseases in all populations. Furthermore, an inverse dose–response relationship exists between steps taken and risk of premature death and cardiovascular events in middle-aged and older adults. There is a lack of information on how to effectively engage older adults around retirement age in walking. This qualitative study explored attitudes towards walking in older people with regard to habits, intensity, preferences and strategies for increasing walking behaviour.MethodsIn-depth qualitative interviews were conducted with 26 older adults who were either close to retirement or recently retired. An inductive thematic analysis was conducted.ResultsThree themes were identified from the data; 1) Engagement and perceived value of walking; was focused on the meaning of walking for the participant and the attributes they associate with their walking practice. 2) Integration and connectivity of walking; was focused on how participants integrate walking in their daily lives and whether walking can be practiced as a viable means of connectivity. 3) Strategies to increase walking; was focused on what factors motivate participants in their walking practice and what strategies they perceived to be beneficial to increase walking distance and intensity at an individual level.DiscussionThe views of walking in people of retirement age were represented within 3 key themes. The factors contained in these themes that may influence future walking practice are discussed with regard to future strategies to promote walking in the retirement life change.ConclusionIt may be beneficial to promote qualitative aspects of walking practice and strive for regularity rather than intensity of walking to accrue the social, psychological and intellectual benefits reported by individuals in the retirement life change.

지체장애 독거노인가구를 위한 고령자 맞춤형 주택개조에 대한 거주 후 평가 연구

With the aging of the world"s population, Korea is facing a super-aged society, so active countermeasures are urgently needed. Home modification is an important mechanism for adapting to retirement life and is a key topic that can reduce the national welfare burden. This study attempted to understand the effect of an aging-friendly customized home modification through the reaction of the elderly residents. Accordingly, first the characteristics of the modified features and the residents respectively, second the fit between them for each modified feature, and third the effectiveness of the entire modification through measures of lifw quality such as perceived self-reliance and expectation of continuous residence and happiness. In order to understand the resident response, a graphic scale was used by replacing the 5-step Likert scale text with the FPRS" face icon. The target households were elderly women living alone with physical disabilities, whose houses currently had aging friendly customized modification. Interview and observation techniques were used for the investigation. As results, very positive responses to various dimensions of user benefits were identified for each changed feature of the houses in which the deficiency part of the previous houses were supplemented by modification. In addition, the remarkable improvement of the three aspects of life quality was also confirmed. This proved the overall effectiveness of customized home modification at a limited cost, along with the accumulation of satisfaction with various modified features. In particular, it is meaningful that it has shown the rationality of the customized modification process previously done to improve residents’ self-reliance and expectation of continuous residence which are the core topics and hopes of Aging In Place.

고령화사회의 노인소득보장정책의 방향

The low birth rate and the extended lifespan of the present time are leading to the prolonged period of old age after retirement caused by the aging population. Also, a change in the family system according to industrialization is bringing about a gradual rise in the elderly couple and the elderly living alone. In the reality of having to live as an old person for more than 30 years after retirement, only the public funds are not enough to spend an economically stable and happy retirement life as well as for the elderly health care problem or the elderly support problem in terms of the welfare for the aged. Thus, the government is being demanded to positively realize “a senior employment program” as the Income Guarantee Policy for the Elderly. Consequently, the government needs to first make a policy decision at the national level and to enact and reorganize systems and laws in accordance with it under the recognition that the use of the elderly manpower can be expected to have a positive effect in two aspects such as the welfare of the elderly and the utilization of the human power. As for a job suitable for the elderly, the multilateral measures and institutional devices must be arranged for creating the diversified jobs for the elderly. The establishment in the vocational training institution for the elderly needs to be available for the elderly to get a job appropriate for their aptitude through education and training so that the aged can acquire the latest information and expertise in an ever-changing society. With a sense of active participation in the promotion and expansion of employment for the elderly, a company has to extend the retirement age and expand the wage peak system depending on the special circumstances of the enterprise.

Factors associated with quality of life in retirement: a systematic review.

The purpose of this review was to determine the effects of retirement on quality of life and associated factors among older adults. This integrative review addressed the following question: what factors are associated with the health and quality of life of retired older adults? Biblioteca Virtual em Saúde and PubMed databases were searched using the following terms: retirement, quality of life, and health. Searches were conducted between June and December 2020. A total of 22 studies were included in the sample, categorized as follows: financial situation, social life, health conditions, and retirement preparation programs. The results indicate that quality of life among retirees is influenced by socioeconomic conditions, and the factors associated with this phenomenon differ according to culture, education, income, and professional category.

Impact of financial investment on the individual’s confidence of happy retirement life

Impact of financial investment on the individual’s confidence of happy retirement life

Retirement Financial Planing and Life Satisfaction

Ageism is an insidious form of injustice that is internalized from an early age with accumulating negative health impacts across the lifespan. Internalized ageism is associated with numerous public health outcomes, including physical and mental health, functional impairment, cognition, cardiovascular stress, hospitalizations, and longevity. Research has begun to document how ageism negatively impacts health through psychological, behavioral, and physiological pathways. Yet, limited research has addressed interventions to reduce internalized ageism. This study integrates stereotype embodiment theory, theories of successful and productive aging, and recent scholarly literature to present a conceptual model with potential downstream, midstream, and upstream interventions at micro, meso, and macro levels. Micro interventions include: social, physical, and cognitive engagement, as well as stress management. Meso interventions include: education, intergenerational contact, and narrative reframing. Macro interventions include anti-ageism policy, such as amendments to the Age Discrimination in Employment Act (ADEA). The conceptual model is described in detail, and implications for practitioners are discussed. The need to examine how policy influences health through the three pathways in stereotype embodiment theory is discussed. This study provides a working model for scholars and practitioners to use when considering paths toward reducing internalized ageism and optimizing well-being for aging adults.

Do Life Course Physical Activity Profiles Reduce the Effects of Childhood Exposures on Cognition?

Although physical activity throughout life is one of the most reliable predictors of healthy aging, can less consistent or favorable trajectories also improve cognition trajectories among older adults? Drawing from accumulation theories, we use longitudinal data from the Health and Retirement Study and Life History Mail Survey (N=9,309) to examine the early antecedents of cognitive decline and the extent to which different life course physical activity profiles can slow such a decline. Results from latent class analysis reveal seven distinct profiles: consistently low, consistently high, consistently average (reference), improvers, decliners, midlife motivators, and previously athletic “couch potatoes.” Growth curve modeling analyses show that membership in the consistently high class and midlife motivators were associated with better cognition initially and over time, with no difference between the two classes. Additionally, though poor health and learning problems in childhood were associated with worse initial cognition, physical activity does not mediate the relationship.

COVID-19 The Global Pandemic: Learning & Take Out for National Pension System (NPS)

The SARS Cov-2 (Covid 19) pandemic has shaken the whole world; it has brought the business, education, industry, transport, communications, travel, hospitality almost all the economic activities to a standstill. Accordingly, it has adversely affected the financial markets and stock exchanges across the globe. The stock exchanges, may it be New York Stock Exchange, Dow Jones, London Stock Exchange, Nikkei, Bombay Stock Exchange or National Stock Exchange experienced an unprecedented plunge of 40 to 50% in a period few weeks. This new dynamic of volatility possesses serious questions about the market driven National Pension System (NPS) which endeavor to ensure smooth retirement life for Indian elderly. The volatility in security market will significantly impact the fund managers’ performance and accordingly the retirement benefit of the subscriber. This article has investigated the impacts of pandemic on fund manager’s risk returns profile. We have used three industry standard risk-adjusted returns parameters such as Sharpe ratio, Treynor Ratio and Jensen’s alpha to evaluate the performance of NPS pension fund managers selected under study. The study has also explored the learning from such unexpected crisis for the policy makers for future preparedness. On the basis of finding, it has suggested some measures for long run sustainability of schemes under NPS. Keywords : NPS, PFRDA, Defined benefit, Defined contribution, Pension fund managers, Risk adjusted returns, COVID-19.

신탁방식 주택연금 전환의향 결정요인에 관한 연구

This study analyzed the factors of conversion intention of households using the proportional odds logit model based on the 2018 Reverse Mortgage Demand Survey to seek revitalization of the trust-type reverse mortgage system. As a result of the analysis, the main factors in the conversion to the trust-type were the presence or absence of a spouse, education level, child support, degree of recommendation, sufficient retirement life of the assets held, adult child opinion, and level of satisfaction. It was also confirmed that households using reverse mortgage have a high understanding and acceptability of the trust-type reverse mortgage system and the need to prepare additional retirement income. In conclusion, the trust-type reverse mortgage is expected to be a very useful means not only for new subscribers but also for existing housing pension subscribers. Therefore, it is important to improve related infrastructure so that existing housing pension subscribers can switch to the trust method. At the same time, efforts to improve the system and develop linked products of trust-type reverse mortgage need to be continued.

Effectiveness of Peer-Led Wellbeing Interventions in Retirement Living: A Systematic Review.

Retirement living (RL) communities may be an ideal setting in which to utilize peer-leaders to implement or support health and wellbeing interventions. To date, this literature has not been systematically summarized. The purpose of this study was to fill this gap with a particular focus on describing the extent to which interventions addressed each level of the social ecological model of behavior change. This review utilized established frameworks for assessing methodological quality of studies, including the CONSORT guidelines and RoB2 bias assessment for cluster randomized controlled trials. A total of 153 records were identified from database searches, and seven studies met inclusion criteria. Overall, there is emerging evidence that peer-led health and wellbeing programs in RL communities can positively impact both health behavior, such as increased physical activity or nutrition, and health status, such as lower blood pressure. The study quality was modest to very good, but only one study was deemed not to have a high risk of bias. Peers are generally cost-effective, more accessible, and relatable leaders for health interventions that can still produce impactful changes. Future studies are needed to better understand how to sustain promising interventions.

Spoken Stories: A Narrative Inquiry on the Public School Teachers’ Early Retirement Decision

The study conducted assesses the perception of the public school teachers on early retirement decision. This study focused on three aspects of retirement which are the respondents concept of retirable age, their fears upon retirement and the psychological impacts early retirement decision has upon their well-being particularly in family relations, social relations and economic status. A narrative inquiry paradigm is used in this study. The study revealed that employees concept of retirable age is 55 years old. The most feared after retirement is the reduction in the cost of living allowance. The family and the respondents’ relationship with them contribute to the success in the retirement adjustment and the ability of the respondents to maintain good relationship with former co-workers creates a satisfactory retirement life.