| Summary: | 碩士 === 高苑科技大學 === 經營管理研究所 === 102 === In May 2013, many teachers paid their income tax for the very first time and got the experience of losing some of the disposable income. The interest of this study is to investigate impacts from changing the taxation system on teachers’ financial investment and management. Recently, the National Pension System and the Retirement Plan for Military Personnel, Public Servants and Teachers these two pension systems have caught great attention from the public too, and the two political parties in Taiwan have proposed major reforms; some of these measures may generate great impacts on the real wage of teachers as well as their retirement planning. This is a questionnaire survey study, and the subjects, full-time elementary school teachers in Kaohsiung, were sampled using the hierarchical random sampling method. A total of 415 questionnaires were returned and valid. The background variables of teachers in this study comprised independent variables, which are gender, age, years of service, education level, marital status, number of dependents, and average monthly income (including income from the part-time job), and dependent variables, which are the teacher’s financial cognition, financial management behavior, and retirement planning. Descriptive statistical analysis, t-test, ANOVA and χ2 test were used for the statistical analysis. The conclusions are summarized below. First, elementary school teachers’ Financial Cognition was more stability and security oriented. Gender was a significant factor; it was found that male teachers are more aggressive while female teachers are more conservative. Second, significantly more female than male teachers showed concern for the possibility of the collapse of the pension fund because that would mean the loss of the retirement income. Third, elementary school teachers showed preference for using term deposits and insurance for investment. They also considered that the goals of financial management are to increase the fortune and to prepare for the retirement. For the selection of investment tools, the subjects’ response was to make the decision based on the level of investment risks. For the annual rate of return, most subjects had a rate of return less than 3%. Fourth, most of the study subjects started to prepare their retirement income between the age of 31 and 40. Their planned retirement age was between 51 and 55 years old, and their estimated monthly living expenses were between 30,001 and 40,000 NTD. The subjects’ main considerations for retirement financial planning were capital preservation and fixed interests. The investment tools the subjects would use when they are retired would be term deposits and insurance. About 56.6% of teachers surveyed here considered that “big medical expenses” are the main cause reducing the quality of life in the retirement. Fifth, elementary school teachers’ Financial Cognition, financial management behavior, and retirement financial planning showed significant variation depending on their gender, age, years of service, education level, marital status, number of dependents, and average monthly income. The study findings are helpful for understanding impacts from the income tax on elementary school teachers’ financial management
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