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Perceived Support and the Retirement Expectations of Sexual Minority Adults
Steven E Mock1, Emily Schryer1
1RBC Retirement Research Centre,University of Waterloo.
Abstract:
Despite the importance of retirement planning among an aging population, little is known about the retirement planning of sexual minority adults (e.g., gay, lesbian, bisexual) and their potentially unique challenges. We compared retirement planning perceptions of these adults with heterosexual adults and examined the potential role of social support. There were no significant differences between sexual minorities and heterosexual adults regarding their expected retirement age, certainty of retirement age, and anticipated income adequacy in retirement, and higher levels of perceived support were associated with younger anticipated retirement age and greater certainty in retirement planning perceptions. Perceived support also had a stronger association with retirement planning perceptions for sexual minority adults compared to heterosexuals, such that lower perceived support was associated with a later retirement age and less certainty about retirement age, and lower levels of perceived support were linked to diminished anticipated retirement income adequacy for sexual minority adults.
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