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Psychosocial determinants of financial planning for retirement among immigrants in Europe

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  • Topa, Gabriela
  • Moriano, Juan A.
  • Moreno, Ana

Abstract

The aim of this paper is twofold. First, to extend Hodges’ model of relationships between financial planning for retirement with psychosocial variables to predict both objective and subjective measures of financial planning. Second, to apply that model to a representative sample of immigrants in Europe provided by the first wave of SHARE study. Data from 1272 immigrants in Europe were obtained through structured interviews and questionnaires. The Structural Equation Modeling (SEM) analyses reveal that the total expected amount of pension was predicted by poor health, migration seniority, and job demands, among other variables. Total years of pension contribution were predicted by salary, job tenure, and migration seniority. These results validate and expand the previous research on bridge employment activities and partial retirement.

Suggested Citation

  • Topa, Gabriela & Moriano, Juan A. & Moreno, Ana, 2012. "Psychosocial determinants of financial planning for retirement among immigrants in Europe," Journal of Economic Psychology, Elsevier, vol. 33(3), pages 527-537.
    • Handle: RePEc:eee:joepsy:v:33:y:2012:i:3:p:527-537
    DOI: 10.1016/j.joep.2012.01.003
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    Cited by:

    1. Ahmad Saleh Ghadwan & Wan Marhaini Wan Ahmad & Mohamed Hisham Hanifa, 2023. "Financial Planning for Retirement: The Moderating Role of Government Policy," SAGE Open, , vol. 13(2), pages 21582440231, June.
    2. Alassane Diaw, 2017. "Retirement Preparedness in Saudi Arabia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 78-86.
    3. Laura Lorente & Núria Tordera & José María Peiró, 2018. "How Work Characteristics Are Related to European Workers’ Psychological Well-Being. A Comparison of Two Age Groups," IJERPH, MDPI, vol. 15(1), pages 1-11, January.
    4. Scott Payne & Jeremy Yorgason & Jeffrey Dew, 2014. "Spending Today or Saving for Tomorrow: The Influence of Family Financial Socialization on Financial Preparation for Retirement," Journal of Family and Economic Issues, Springer, vol. 35(1), pages 106-118, March.
    5. Zheng, Yeqiu & Gu, Yan & van Soest, Arthur, 2023. "Beyond financial knowledge and IQ: The effect of temporal values on pension planning, homeownership and financial wealth of natives and immigrants in the Netherlands," OSF Preprints 6cwk7, Center for Open Science.

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    More about this item

    Keywords

    Retirement; Immigration; Europe; Psychosocial determinants; Financial planning;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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