{"title":"A Proposal for Retirement Risk Measurement Based on Subjective Assessment of Income: An Empirical Study","authors":"Kamila Bielawska, Arkadiusz Kozłowski","doi":"10.1007/s11205-023-03295-3","DOIUrl":null,"url":null,"abstract":"<p>We propose a novel approach to retirement risk and its measurement. We define retirement risk as a shortfall of financial resources to meet the needs of a retiree’s household, which is different from the inability to maintain a standard of living in retirement. Taking a subjective approach to risk, we operationalise it using the <i>Leyden approach</i> to estimate the minimum satisfactory income for a retiree household and compare it to the pension value. Using a logistic regression model, we estimate the effect of pension value and household and reference person characteristics. The retirement risk level strongly depends on the pension value, household composition, and the reference person’s education attainment level, which also moderates the impact of the pension. This paper contributes to the literature by proposing a subjective retirement risk measurement method and offering a methodological tool that can be used with similar data from other countries.</p>","PeriodicalId":21943,"journal":{"name":"Social Indicators Research","volume":"185 1","pages":""},"PeriodicalIF":2.8000,"publicationDate":"2024-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Social Indicators Research","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1007/s11205-023-03295-3","RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"SOCIAL SCIENCES, INTERDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
We propose a novel approach to retirement risk and its measurement. We define retirement risk as a shortfall of financial resources to meet the needs of a retiree’s household, which is different from the inability to maintain a standard of living in retirement. Taking a subjective approach to risk, we operationalise it using the Leyden approach to estimate the minimum satisfactory income for a retiree household and compare it to the pension value. Using a logistic regression model, we estimate the effect of pension value and household and reference person characteristics. The retirement risk level strongly depends on the pension value, household composition, and the reference person’s education attainment level, which also moderates the impact of the pension. This paper contributes to the literature by proposing a subjective retirement risk measurement method and offering a methodological tool that can be used with similar data from other countries.
期刊介绍：
Since its foundation in 1974, Social Indicators Research has become the leading journal on problems related to the measurement of all aspects of the quality of life. The journal continues to publish results of research on all aspects of the quality of life and includes studies that reflect developments in the field. It devotes special attention to studies on such topics as sustainability of quality of life, sustainable development, and the relationship between quality of life and sustainability. The topics represented in the journal cover and involve a variety of segmentations, such as social groups, spatial and temporal coordinates, population composition, and life domains. The journal presents empirical, philosophical and methodological studies that cover the entire spectrum of society and are devoted to giving evidences through indicators. It considers indicators in their different typologies, and gives special attention to indicators that are able to meet the need of understanding social realities and phenomena that are increasingly more complex, interrelated, interacted and dynamical. In addition, it presents studies aimed at defining new approaches in constructing indicators.
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