| Summary: | 碩士 === 元智大學 === 管理研究所 === 93 === Taiwan has become an aging society since 1993. Since then, the issues regarding pensions for retirement have become red-hot topics, in particular “Retirement Adequacy,” primarily because this issue is closely related to the financial lifestyle of the elderly. Meanwhile, the dynamic changes in family structures and in the healthcare for the elderly have deepened the importance of “Retirement Adequacy”.
In line with the aforementioned needs, the voices for setting up a rational retirement system are increasingly heard. In turn, the issue to manage the savings for retirement becomes increasingly important. How much of an amount of retirement pension is considered adequate to meet prolonged retirement needs? The answer to this question is of interest to people in all walks of life.
This thesis is intended to acquire sound awareness of the characteristics of the retirement system and the replacement rates by comparing the pension systems prevailing in the UK, United States and the Japan. Further, we will offer a forecast for the expected expenses after retirement for various households, where the expected expenses are consistent with the idea of consumption smoothing for desired lifestyles.
In the First Chapter, the Thesis looks into the trends of transformation in the population structure in Taiwan and probes into the financial sources of revenues for the elderly. The findings will ascertain the strength of the retirement systems. In turn, it will extend to the indispensability of the personal retirement savings.
In the Second Chapter, the Thesis will look into the pension systems and retirement adequacy status of the leading countries in the world (the UK, United States and the Japan). Meanwhile, the Chapter will look into the transformation of the pension systems in Taiwan.
In the Third Chapter, the principal body of the Thesis, it defines the retirement adequacy and looks into the needs for retirement, offering comprehensive pension planning procedures.
In the Fourth Chapter, it sets up the efficient investment portfolio and further provides feasible plans regarding the pre-retirement and post-retirement periods in the financial management.
In the Fifth Chapter, it probes into the retirement adequacy in Taiwan, mainly based on the 2002 household survey data conducted by the Directorate-General of the Budget, Account & Statistics. Regression analyses are applied in the Thesis to obtain the interrelationship between the household consumption expenditure and the household demographic as well as financial factors. The prediction equations obtained in the regression analyses are further verified by using 2003 data from the same dataset to make sure whether the results obtained through the SAS regression analyses are good enough. It is hoped that through formal modeling, we can predict the consumption expenditures of individual or household in a scientific way, and then the needs for the retirement life can be further calculated. The last part of the Thesis integrates the entire thesis into conclusions and recommandations.
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