Title

Retirement planning and retirement satisfaction : the need for a national retirement program and policy in Hong Kong

Document Type

Journal article

Source Publication

Journal of Applied Gerontology

Publication Date

9-1-2004

Volume

23

Issue

3

First Page

212

Last Page

233

Keywords

Hong Kong, retirement, satisfaction, policy

Abstract

This study, based on a telephone survey, examines retirement planning behaviors and retirement satisfaction of 1,078 middle-aged respondents in Hong Kong. The findings show that, in general, middle-aged Hong Kong adults do little retirement planning. Retirement planning behaviors focus on a very narrow set of activities, including financial and health planning. Of the 19 planning variables, only a few were significantly related to perception of sufficiency in retirement planning and retirement satisfaction. More important, middle-aged adults in Hong Kong no longer feel that they can depend on their family for support for retirement planning or satisfaction during retirement. The lack of private and public support for retirement planning left the respondents feeling unsure as to whether they have the capability to plan sufficiently for retirement. The discussion concludes with policy implications related to assisting middle-aged individuals in planning for retirement.

DOI

10.1177/0733464804268591

Print ISSN

07334648

E-ISSN

15524523

Publisher Statement

Copyright © 2004 SAGE Publications

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Recommended Citation

Lee, W. K. M., & Law, K. W.-k. (2004). Retirement planning and retirement satisfaction: The need for a national retirement program and policy in Hong Kong. Journal of Applied Gerontology, 23(3), 212-233. doi: 10.1177/0733464804268591