Good job, good pension? The influence of the workplace on saving for retirement
Bibliographic Data
| ID | 11201291 |
|---|---|
| Authors | Lynne Robertson-Rose (0000-0002-5200-843X, University of Edinburgh, corresponding author) |
| Year | 2019 |
| Volume | 39 |
| Issue | 11 |
| Pages | 2483-2501 |
| Publication date | 2019-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Ageing and Society (JOURNAL) |
| Journal identifiers | ISSN: 0144-686X • E-ISSN: 1469-1779 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0144686x18000600 |
| OpenAlex | W2809208441 |
| Language | EN |
| Citations received | 5 |
| References cited | 37 |
Most private-sector employees in the United Kingdom (UK) are automatically enrolled into individualised defined contribution (DC) pension accounts. In a DC environment, income adequacy in retirement is highly dependent on the decisions that individuals make earlier in their lives. The ease with which they move into employment, and the pension support that they then receive from their employer, can be critical in determining outcomes. This paper discusses how employees respond to workplace pension schemes and the circumstances under which they assess the suitability of their contributions. The findings are based on an embedded case study comprising qualitative interviews with 25 employees of a large UK utility company. Participants were selected on the basis of socio-economic similarity. The research concluded that fixed-term employment negatively impacted on saving for retirement, both with respect to scheme membership and to the level of saving. Furthermore, it was found that the employment context had an influence upon retirement savings behaviour. The proactive approach of the employer in providing retirement benefits, and the trust that employees had in their employer, positively influenced membership and contribution levels. In addition to employer endorsement effects, both the encouragement of older work colleagues and workplace norms had a role to play in influencing how successfully individuals prepared for retirement
Actuarial science · Business · Context (archaeology) · Demographic economics · Economic growth · Economics · Job loss · Labour economics · Pension · Private sector · Qualitative research · Sociology · Unemployment · Work (physics) · Finance · Financial Literacy, Pension, Retirement Analysis · Housing, Finance, and Neoliberalism · Retirement, Disability, and Employment
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Recommendations Implicit in Policy Defaults
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Retirement Saving Choices
Using a Political Economy and Life Course Approach to Understand Gendered Pension Provision in the UK
Young People and Attitudes towards Pension Planning
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The transformation of employee pensions in the United States
Class, gender and chance
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Doing good by doing nothing? The role of social norms in explaining default effects in altruistic contexts
A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades
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Pension Confusion, Uncertainty and Trust in Scotland
Family Ties
Closing the Gender Gap in Retirement Income
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,83 |
| Citation span | 2020 - 2024 (5) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 5 |