Retirement savings behaviours and COVID-19: Evidence from Thailand

Suntharee Lhaopadchan, Paul Gerrans and Sirimon Treepongkaruna

Pacific-Basin Finance Journal, 2024, vol. 85, issue C

Abstract: This paper utilises administrative data from members of the Thai Government Pension Fund to examine voluntary contributions and investment plan change. We find low overall incidence of both behaviours which increased only modestly during the onset of COVID-19. While the major finding is that members are in the minority if they engage in the behaviour regardless of gender, salary, balance, or experience in the fund, the relative probability varies systematically by member characteristics. Policy implications are discussed including the difficulty large plans face when attempting to encourage the savings behaviours in identifiable member groups who may benefit but the costs of doing so are borne by the full membership.

Keywords: Pensions; Retirement savings; Investment choice; COVID-19; Household finance (search for similar items in EconPapers)
JEL-codes: E21 E22 G11 J26 J32 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:85:y:2024:i:c:s0927538x24001008

DOI: 10.1016/j.pacfin.2024.102349

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