The Role of Financial Literacy on the Perceived Retirement Preparedness Among Faculty Members of the College of Economics and Management (CEM) at the University of the Philippines Los Baños (UPLB)

Date

6-2024

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Ma. Janda Ira Felina M. Benedictos

Committee Member

Jhoana V. Alcalde, Gideon P. Carnaje, Ma. Angeles O. Catelo

Restrictions

Restricted: Not available to the general public and to those bound by the confidentiality agreement. Access is available only after consultation with author/thesis adviser.

Abstract

This study analyzed the relationship between financial literacy and the perceived retirement preparedness of the CEM faculty members. Specifically, this study examined the association of financial literacy dimensions namely financial knowledge, financial skills, and financial attitudes to the perceived preparedness for the retirement of the faculty members. The study used primary data through an online survey questionnaire and distributed it to all currently active faculty members of CEM. A correlation analysis was utilized to analyze the relationship of the two variables.

The correlation analysis revealed that monthly gross income and financial attitudes have a positive correlation to the perceived retirement preparedness, indicating that those with higher income and positive financial attitudes tend to be more prepared for retirement. This aligns with previous studies where income and financial attitudes have a positive relationship with retirement preparedness. In addition, the correlation analysis resonates with the Life Cycle Hypothesis (LCH), indicating that those with greater earnings and positive attitudes toward managing finances tend to develop retirement plans that include saving for retirement leading to a greater sense of preparedness. However, the study's generalizability may be limited due to the sample size not necessarily reflecting the entire faculty population. This restricts the author's ability to draw definitive conclusions about the entire faculty.

Language

English

LC Subject

LG 993.5 2024 E2 V53

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 V53

Document Type

Thesis

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