A New Pathway towards Retirement Preparation: Integration of Holistic Life Planning

Dayang Kartini Abang Ibrahim; Nor Wahiza Abdul  Wahat

Authors

Dayang Kartini Abang Ibrahim Faculty of Educational Studies, Universiti Putra Malaysia, Malaysia Author
Nor Wahiza Abdul Wahat Faculty of Educational Studies, Universiti Putra Malaysia, Malaysia Author

Keywords:

Retirement Preparation, Retirement Planning, Hansen’s Integrative Life Planning (ILP), A process theory of planning, Retirement Domains.

Abstract

This is a concept paper to review the needs of holistic life planning as a new pathway towards retirement preparation. It is based on the review of literature on the importance of this knowledge to fulfil individual successful planning and preparation for retirement. It includes the review on a planning process theory by Friedman and Scholnick (1997) which provides the basis for generation of retirement preparation. Meanwhile Hansen’s Integrative Live Planning (ILP) theory is embedded within the theoretical framework to help better understanding on the domains of planning and preparation for retirement. The purpose is to develop a theoretical model for measuring employees’ retirement preparation in government organizations. The primary problem in retirement preparation is the lack of theory to show the development of retirement preparation process. Although prior research has theories explained on retirement thoughts, behaviors, attitudes or goals undertaken to fulfill the retirement preparation, none of it measures applied in the studies were established to directly test the theories according to the process and development of retirement. According to the process theory, individuals acquire an understanding of the problem, goals will be set in making a decision to start preparing and finally behaviors is considered necessary to fulfil the goals (Noone et al., 2009). This raises intriguing questions: What factors influence retirement preparation? Which stages in retirement planning and preparation require intervention and support? (Noone et al., 2009) Which domain in life is significant to retirement preparation? The theory is discussed throughout the paper in the context of the needs of retirement preparation. This paper would be useful for policy makers, practitioners and employees in considering their own retirement preparation for future well- being.

References

Ajzen, I. (2002). Perceived Behavioral Control, Self-Efficacy, Locus of Control, and the Theory of Planned Behavior1. Journal of Applied Social Psychology, 32(4), 665–683.

Ashforth, B. (2001). Role transitions in organizational life : An identity-based perspective. Mahwah, NJ:Lawrence Erlbaum.

Brown, S.K.(2003). Staying ahead of the curve 2003: The AARP working in retirement study. In K.E Cahill, M.D Giandrea & J.F Quinn. Oxford Handbook of Retirement, (pp. 93-310) Oxford: Oxford University Press

Daft, R.L. (2001). The leadership Experience. Fort Worth, TX :Harcourt College Publishers.

Dorfman, L.T. (1989). Retirement preparation and retirement satisfaction in the rural elderly. The Journal of Applied gerontology, 8 (4): 432-450

Feldman, D.C. (1994). The decision to retire early: A review and conceptualization. Academy of Management Review, 19: 285-311.

Feldman, D.C. (2003). Endgame: The design and implementation of early retirement incentive programs. In G.A Adams & T.A Beehr (Eds). Retirement: Reasons, process and results, 83-114. New York: Springer.

Fraisse, P. (1963). The psychology of time. London: Eyre & Spottiswoode.

Friedman, S.L., & Scholnick, E.K. (1997). An evolving “Blueprint” for planning: Psychological Requirements, task characteristic and social cultural influences. In S.L Friedman & E.K Scholnick (Eds), The developmental psychology of planning: why, how and when do we plan. Mahwah, NJ:Lawrence Erlbaum Associates.

Gelatt, H.B. (1989). Positive uncertainty: A new decision making framework for counselling. Journal of Counselling Psychology, 36, 252-256.

Gjesme, T. (1983). On the concept of future orientation: considerations of some functions and measurement implications. International Journal of Psychology, 18: 443-461.

Gustman, A.L., & Steinmeier, T.L. (1986). A structural retirement model. Econometrica, 54:555-584.

Hansen, L.S. (2001). Integrating work, family and community through holistic life planning. Career Development Quarterly, 49(3) : 261-274.

Hansen, L.S. (1997). Integrative Life Planning: Critical task for career development and changing life patterns. San Francisco: Jossey-Bass.

Hendricks, J., & Cutler, S. (2004). Volunteerism and socio-emotional selectivity in later life. Journal of Gerontology: Social Sciences, 59B, 251-257.

Kim, S., & Feldman, D.C. (2000). Working in retirement: The antecedents of bridge employment and its consequences for quality of life retirement. Academy of Management Journal, 43: 1195-1210.

Locke, E.A. (1975). Personnel attitudes and motivation. Annual Review of Psychology, 26: 457-480.

Matthews, R.A., & Fisher, G.G. (2013). Family, Work & Retirement Process: A Review and New Direction. The Oxford Handbook of Retirement. New York: Oxford University Press.

Muratore, A.M., & Earl, J.K. (2010). Predicting Retirement Preparation through the design of a new measure. The Australian Psychological Society, 45(2) :98-111.

Noone, J.H., Stephans, C., & Alpass, F. (2010). The Process of Retirement Planning Scale (PRePS): Development and Validation. Psychological Assessment, 22(3): 520-531.

Noor Azima, A., Jariah, M., & Rahimah I. (2013). Domains of pre-retirement planning: Experiences of never-marries Malay women retirees of the Malaysian Civil Service. The Macrotheme Review, 2(5): 79-96

Petkoska, J., & Earl, J.K. (2009). Understanding the influence of Demograhpic and Psychological Variables on Retirement Planning. Psychology and Ageing, 24(10): 245-251.

Reitzes , D.C., Mutran, E.J., & Fernandez, M.E. (2004). The transition to retirement: Stages and factors that influence retirement adjustment. International Journal of Aging and Human Development, 59(1): 63-84.

Reitzes , D.C., Mutran, E.J., & Fernandez, M.E. (1998). Decision to retire: A career perspective. Social Science Quarterly, 79(3): 607-619.

Seijts, G.H., (1998). The Importance of Future Time Perspective in Theories of Work Motivation. The Journal of Psychology: Interdisciplinary and Applied, 132(2) :154-168

Shank , R.C & Abelson, R.P. (1977). Scripts, plans, goals and understanding. In S.L Friedman & E.K Scholnick (Eds), The developmental psychology of planning: why, how and when do we plan. Mahwah, NJ:Lawrence Erlbaum Associates.

Shultz, K.S. (2003). Bridge employment: Work after retirement. In M. Wang (Ed.) Oxford Handbook of Retirement, (pp. 589-602) Oxford: Oxford University Press

Taylor, M.A. & Shore, L. F. (1995). Predictors of planned retirement age: An application of Beehr’s model. Psychology and Aging, 10: 76-83.

Wang, M. (2013). Retirement: An introduction and Overview of the Handbook. The Oxford Handbook of Retirement. New York: Oxford University Press.

Wang, M. & Shultz, K.S. (2010). Employee Retirement: A review and recommendations for Future Investigation. Journal of Management, Vol 36(1): 172-206.

A New Pathway towards Retirement Preparation: Integration of Holistic Life Planning

Authors

Keywords:

Abstract

References

Downloads

Published

Issue

Section

License