Factors Affected the Private School Faculties to Take in the Intention of Pension Investment

• Main Authors: Huang, Wei-Wen, 黃媺文
• Other Authors: 胡茹萍
• Format: Others
• Language: zh-TW
• Online Access: http://ndltd.ncl.edu.tw/handle/pzygpd

碩士 === 國立臺灣師範大學 === 工業教育學系 === 106 === Private School Faculties Service Pension Fund is the first national retirement plan that allows faculties to choose their own investment risk. The goal of this plan for autonomous investment is to assist private school staffs in pursuing a more efficient investment under the appropriate level of risk tolerance. This is to increase the income substitution rate after retirement and enable to get a more secure retirement life for teachers. Although the autonomous investment plan was promoted, this autonomous investment plan has not yet received approval and support from most private school staffs. There are still more than 80% of private school staffs choosing conservative investment portfolios that guarantee only the lowest rate of two-year fixed deposits instead of robust and active investment portfolios with relatively high remuneration. This study examines the factors that affect the willingness of private school faculties to take in pension fund investment. Based on the participants’ personality traits, we delivered questionnaires to faculties retired from private schools and analyzed the relationships among herd behavior, policy cognition, policy satisfaction, and continuing intentions. 328 validated questionnaires were collected and subjected to structural equation modeling. We found that the personality traits of participants can be used to positively predict herd behavior, and to further positively predict staffs’ satisfaction with pension fund investment plans and their intention of continuous participation. The correlation between policy cognition and faculty personality traits is not significant, but its degree of policy cognition can be used to positively predict the satisfaction of the pension fund investment plan and the intention of continuous participation. To sum up, it is suggested that when promoting Private School Faculties Service Pension Fund, the government and related organizations should promote the plan's exposure, leading to increasing the willingness of teachers and staffs in private schools to participate in the plan.