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The Process of Retirement Planning Scale (PRePS): development and validation.
Jack H Noone1, Christine Stephens, Fiona Alpass
1School of Psychology, Massey University, P. O. Box 756, Wellington, New Zealand. j.h.noone@massey.ac.nz
Psychological Assessment
|September 9, 2010
Summary
This study introduces the Process of Retirement Planning Scale (PRePS) to measure how individuals prepare for retirement across financial, health, and lifestyle domains. The PRePS identifies key planning stages and predictors of successful retirement preparation.
Area of Science:
- Gerontology
- Psychology
- Sociology
Background:
- Growing aging population necessitates understanding retirement preparation.
- Existing research focuses on wealth and education, neglecting the planning process.
- Friedman and Scholnick's (1997) model provides a theoretical basis for assessing retirement planning.
Purpose of the Study:
- To develop and validate a comprehensive measure of the retirement planning process.
- To assess financial, health, lifestyle, and psychosocial domains of retirement planning.
- To identify antecedents and outcomes associated with retirement planning.
Main Methods:
- Development of a 52-item Process of Retirement Planning Scale (PRePS).
- Testing on a sample of 1,449 New Zealanders aged 49-60.
- Statistical analyses including confirmatory factor analysis, correlations, and regression.
Main Results:
- The PRePS demonstrated valid use across multiple retirement planning domains.
- Future orientation and locus of control were significant predictors of retirement planning.
- PRePS showed superior performance compared to existing measures in the Health and Retirement Study.
Conclusions:
- The PRePS is a reliable tool for assessing retirement planning stages and domains.
- Findings can inform social policy for targeted retirement support and interventions.
- The scale aids in understanding factors influencing retirement well-being and planning behaviors.
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