Farmers' private savings for retirement
Self-employees in Sweden, there among farmers are not provided with any occupational pension, which means that one part of their retirement income is lacking. Therefore, they have a larger responsibility concerning their private savings for retirement in order to obtain a retirement income correspon...
| Main Authors: | , |
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| Format: | Second cycle, A2E |
| Language: | Inglés Inglés |
| Published: |
2016
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| Subjects: | |
| Online Access: | https://stud.epsilon.slu.se/9603/ |
| Summary: | Self-employees in Sweden, there among farmers are not provided with any occupational pension, which means that one part of their retirement income is lacking. Therefore, they have a larger responsibility concerning their private savings for retirement in order to obtain a retirement income corresponding to the one they had during their active work period. Decisions regarding farmers’ retirement represent a complex matter, since farmers view their business as their lifestyle. Researchers have found that farmers tend to reinvest in their business instead of prioritizing private savings outside the business, which has an impact on their private retirement savings for the future. Decisions concerning retirement are not a daily decision, which the farmer can get immediate gratification from and this make these kinds of decisions more difficult for them.
There are only a small number of studies, which have investigated retirement savings among farmers. Although, it is known that retirement is one reason for why farmers have private savings, but it has not been studied why farmers have private savings for retirement. In order to understand how this decision is made, the underlying values or goals behind the decision need to be known. Through these values, people become motivated to accomplish things like their goals, needs satisfactions or desirable end states that people want to achieve.
The aim of the study is to explore which values motivate farmers’ decision-making concerning their private savings for retirement. The chosen theories are Means-end chain theory and Personal value theory. A qualitative approach is used. The chosen method is “soft” laddering, since it is used when revealing the means-end chains among people. The method is performed through in-depth telephone interviews with 25 participating farmers.
The conclusions in this study suggest that the personal values which motivate farmers’ decision-making concerning their private savings for retirement are: “Safety”, “Financial stability”, “Good relations to relatives”, “Tradition”, “Not affect next generation financially”, “Fulfill dreams/do things that matter”, “Happiness” and “Good life as a pensioner”. These are further interpreted into personal value groups according to perspective of personal value theory: Security, Benevolence, Tradition, Self-direction, Stimulation and Hedonism. |
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