Retirement Income and Financial Market Participation in New Zealand

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dc.citation.issue1
dc.citation.volume11
dc.contributor.authorXu X
dc.contributor.authorYoung M
dc.contributor.authorZou L
dc.contributor.authorFang J
dc.date.available30/01/2023
dc.date.issued30/01/2023
dc.description.abstractUsing New Zealand Household Economic Survey (HES) 2018 data, we examine the impact of direct financial market participation post-retirement on retirement income in New Zealand. Our results demonstrate the importance of post-retirement financial market participation in the enhancement of retirees’ financial well-being. We conclude that retirees who participate in the financial market enjoy a 78% increase in overall annuitised net wealth; further analysis also reveals a substantial 154% increase if government pensions are excluded from calculations of annuitised net wealth. Moreover, these retiree participants also show higher probabilities of financial-situation satisfaction. These results highlight the significant contribution to retirement income of direct financial market participation. Our paper sheds extra light on issues related to retirement financial well-being and has important implications for policy makers in New Zealand.
dc.description.confidentialFALSE
dc.format.extent? - ? (24)
dc.identifierhttps://www.mdpi.com/journal/ijfs
dc.identifier.citationInternational Journal of Financial Studies, 2023, 11 (1), pp. ? - ? (24)
dc.identifier.doi10.3390/ijfs11010024
dc.identifier.elements-id459206
dc.identifier.harvestedMassey_Dark
dc.identifier.issn2227-7072
dc.identifier.urihttps://hdl.handle.net/10179/17977
dc.publisherMDPI AG
dc.publisher.urihttps://www.mdpi.com/journal/ijfs
dc.relation.isPartOfInternational Journal of Financial Studies
dc.subjectannuitised net wealth
dc.subjectFinancial Market Participation
dc.subjectfinancial situation satisfaction
dc.subjectlife satisfaction
dc.subjectNew Zealand retirement income
dc.titleRetirement Income and Financial Market Participation in New Zealand
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Economics and Finance
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