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Article
Retirement planning and retirement satisfaction : the need for a national retirement program and policy in Hong Kong
Journal of Applied Gerontology
  • Keng Mun, William LEE, Lingnan University, Hong Kong
  • Wing Kin, Kenneth LAW, Lingnan University, Hong Kong
Document Type
Journal article
Publication Date
9-1-2004
Keywords
  • Hong Kong,
  • retirement,
  • satisfaction,
  • policy
Disciplines
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
E-ISSN
15524523
Publisher Statement

Copyright © 2004 SAGE Publications

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Citation Information
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