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Do expectations for post-retirement family and government support crowd out pre-retirement savings? Insights from the working-age population in Thailand

Published online by Cambridge University Press:  14 January 2021

Nopphol Witvorapong Open the ORCID record for Nopphol Witvorapong [Opens in a new window] ,
Yong Yoon  and
Wiraporn Pothisiri
Nopphol Witvorapong*
Affiliation:
Faculty of Economics, Chulalongkorn University, Bangkok, Thailand
Yong Yoon
Affiliation:
Faculty of Economics, Chulalongkorn University, Bangkok, Thailand
Wiraporn Pothisiri
Affiliation:
College of Population Studies, Chulalongkorn University, Bangkok, Thailand
*
*Corresponding author. Email: Nopphol.W@chula.ac.th
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Abstract

Based on nationally representative data (N = 8,901), this study investigates the extent to which expectations for intra-family transfers and government assistance in old age impact the probability of saving for retirement among working-age individuals in Thailand. Results show that expectations for financial non-self-reliance and expectations that family support would constitute the most important source of old-age financial security reduce the probability that working-age individuals would save for retirement. Expectations for government support have no impact on average. Given that filial piety is weakening in Thailand, this study suggests that the government encourage pre-retirement savings more strongly.

Keywords

Retirementsavinggovernment supportfamily supportelderlyD14D15J14
Type
Article
Information
Journal of Pension Economics & Finance , Volume 21 , Issue 2 , April 2022 , pp. 218 - 236
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press

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