Attitudes of Singaporean Chinese towards Retirement Planning

Bruce Gurd () and Francis Kum Hoong Or ()
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Bruce Gurd: International Graduate School of Business, Centre for Asian Business, University of South Australia, GPO Box 2471, Adelaide 5000, Australia
Francis Kum Hoong Or: University of South Australia, Australia

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2011, vol. 14, issue 04, 671-692

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 shuiis statistically significant in this study.

Keywords: Retirement planning; Chinese cultural values; marital status; gender; income (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1142/S0219091511002354

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