The Study on the Correlates of Civil Retirement Thrift Saving Plan Participation

• Main Authors: Shih, Hua-en, 施華恩
• Other Authors: Sue, tsai-tsu
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/50214076675740351669

碩士 === 國立臺灣大學 === 政治學研究所 === 92 === ABSTRACT The mutual exchange of human resources between public and private sectors is an emerging important issue in an ageing society. Under the increasing great financial pressure of the traditional civil retirement pension plan, the government in Taiwan begins to explore other pension policy alternatives such as thrift saving programs and personal retirement account. For examining the plausibility and feasibility of thrift saving programs as an additional optional proposal for the civil employees in the future pension plan, this survey study has been conducted to collect the ideas and suggestions from the civil employees themselves. The population of this study covers the whole civil service personnel who had registered under the scheme of national civil service retirement pension plan (except public school and military service employees). A sample of 3,200 is collected by a simple random procedure. The valid questionnaires account for 1,678 and the corresponding rate of the survey is 52.43%. The sample profile includes: central government employees 39.6% , government employees 49.9%, and public enterprise employees 17.2%, male 60.8% and female 36.1%, under 34 years old 28.3%, 35-54 years old 64.7%, and 55 yeas old and above 7.0%. The representation of this sample to the population has also tested and proved to be no significant difference The major ideas and suggestions from this study regarding the alternative thrift saving program include: whether support the program, cons 42.3% and 57.7%; whether comprehend the program, fully do understand and do understand the program 63.2%, fully don’t understand and don’t understand the program 24.9%, and no ideas 12.0%; regarding the great strength of the program is to relieve the financial pressure of the government 34.0% and the great weakness of the program is to cause instability of retired civil employees; regarding the program in general is excellent and fine 39.8% and regarding the program is bad and very bad 60.2%. For further multivariate analysis, the procedure of logistic regression has been applied. The significant predictors for the agreement of this program as a replacement for the previous defined benefit type of retirement pension plan are bachelor and graduate degrees, public enterprise employees, those who have never had monthly personal cash saving plan, those who have already had financial plan such as purchasing stocks and funds, regarding the primary purpose of saving is the prevention for accidental or unemployment needs, proposing increasing dues and benefits of the program, regarding both individual and government should share the financial responsibility of the pension plan, those who do not regard their opinions would be influenced by their colleagues, those who would accept the lower corresponding appropriate ratios contributed by the government for this program, and those who would accept an decreasing defined benefit payment from the previous retirement pension plan, and those who would support the thrift saving program. Besides, the significant predictors for the willingness of participating this personal saving program are: unmarried, graduate degrees, non-personnel departments, those who have been unsatisfied with the present retirement pension plan, those who have fully understood this program and have higher positive appraisal on this program, and those who are willing to take higher risk for financial investment. Finally, the significant predictors for the willingness of involvement in this new program as an additional option beyond the previous defined benefit type of retirement pension plan are higher ranks of officials, those who have fully understood this program and have higher positive appraisal on this program, those who regard the income from this program is the last resort when government might run out the financial resources of other retirement pension plan, regarding both individual and government should share the financial responsibility of the pension plan, those who predict the future economics will decline after their retirement, those who expect the welfare systems will turn better after retirement, and those who agree tax deduction as best financial incentive for participating this program. Brief speaking, the above results from this study do support the major hypotheses of Keynes’ consumption function theory, permanent income theory, relative income theory, and consumer decision process model, and the significant influence of those subject and object predictors of consumer characteristics and environment conditions are also confirmed. According literature review and the findings of this survey, the author proposes the following policy suggestions for the thrift saving program adopted in this country. First, the primary scheme of the program must be flexible and varied. Second, multiple financial incentives for this program must be proposed for increasing the willingness of participation. Third, briefs and introductions about this program must be circulated among each departments of the government before the program is designed and implemented. Fourth, a portable retirement pension scheme which could be accepted both in public and private sectors must be established before this program is enacted. Since both the purpose and content of the thrift saving program is quite strange to most civil employees, the comprehension of as well as the willingness to be involved in this program is still limited among them. Many more seminars or workshops on the related topics of this program should be held for collecting more ideas and suggestions for planning this alternative retirement policy measure in the future in public sector.