Earl, J.K. & Archibald, H. (2014). Retirement Planning is more than just accumulating resources. European Journal of Management, 14 (2), 21-36 (original) (raw)

Two ways proposed by the OECD (2011) to reform pensions included increasing workforce longevity and encouraging independent financial planning. This study explored retirement planning and resource accumulation behavior (physical health, finances, social, cognitive, emotional and motivational) in a group of 311 Australian employees aged 45 and over. Antecedents and consequences of retirement planning and resource accumulation were investigated . Antecedents included demographics, work centrality, mastery and psychological health. Consequences investigated were confidence in retirement preparation, planned age at retirement and intention to participate in bridge employment. Important differences in antecedents and consequences indicate that the constructs of retirement planning and resource accumulation do not operate interchangeably. Policy makers, such as the OECD, Organizations and Governments should consider mastery and resource accumulation as well as planning in promoting better retirement preparation. three trajectories for retirement could be explained in terms of differences between the groups in resources relating to work satisfaction, preretirement planning, health declines, and changes in finances. The resource perspective brings flexibility to understanding how individuals adjust to retirement in the context of their individual circumstances. argue that resources can be both positively and negatively affected by changes at the societal, organisational, job and individual levels. This suggests that levels of resources can be both the result of individual actions, as well as a product of the environment that an individual lives in. Applying a resource perspective to preparation for retirement may lead to better understanding of preparatory behaviours than a planning perspective alone, as it need not be a deliberate process undertaken to achieve goals.