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    This document summarizes a research article that studied how expectations of post-retirement family and government support impact pre-retirement savings among working-age individuals in Thailand. The study used a nationally representative dataset of 8,901 individuals. The results showed that expectations of relying financially on family or that family would be the main source of financial support in old age reduced the likelihood of saving for retirement. Expectations of government support did not significantly impact savings behavior on average. Given that filial piety is weakening in Thailand, the researchers suggest the government should more strongly encourage pre-retirement savings.

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    This document summarizes a research article that studied how expectations of post-retirement family and government support impact pre-retirement savings among working-age individuals in Thailand. The study used a nationally representative dataset of 8,901 individuals. The results showed that expectations of relying financially on family or that family would be the main source of financial support in old age reduced the likelihood of saving for retirement. Expectations of government support did not significantly impact savings behavior on average. Given that filial piety is weakening in Thailand, the researchers suggest the government should more strongly encourage pre-retirement savings.

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    16 views2 pages

    Cambridge Core Share Do Expectations For Post Retirement Family and Government Support Crowd Out Pre

    Uploaded by

    a1abhi20_47761215
    This document summarizes a research article that studied how expectations of post-retirement family and government support impact pre-retirement savings among working-age individuals in Thailand. The study used a nationally representative dataset of 8,901 individuals. The results showed that expectations of relying financially on family or that family would be the main source of financial support in old age reduced the likelihood of saving for retirement. Expectations of government support did not significantly impact savings behavior on average. Given that filial piety is weakening in Thailand, the researchers suggest the government should more strongly encourage pre-retirement savings.

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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
    Journal of Pension Economic...

    Article  in  Journal of Pension Economics and Finance · January 2021


    DOI: 10.1017/S1474747220000360

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    3 authors:

    Nopphol Witvorapong Yong Yoon


    Chulalongkorn University Chulalongkorn University
    30 PUBLICATIONS   60 CITATIONS    13 PUBLICATIONS   21 CITATIONS   

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    Wiraporn Pothisiri
    Chulalongkorn University
    30 PUBLICATIONS   341 CITATIONS   

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    Some of the authors of this publication are also working on these related projects:

    Behavioral Economics View project

    Thai Health Foundation:Behavioral Economics View project

    All content following this page was uploaded by Nopphol Witvorapong on 14 January 2021.

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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

    Journal of Pension Economics and Finance

    NOPPHOL WITVORAPONG, YONG YOON, WIRAPORN POTHISIRI

    DOI: 10.1017/S1474747220000360

    Published online: 14 January 2021, pp. 1-19

    Read this article for free

    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.

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