Pension protection among minority ethnic groups in the UK: the role of investments and subjective indicators
Pension protection among minority ethnic groups in the UK: the role of investments and subjective indicators
Previous research has evidenced ethnic differentials among working-age individuals’ propensity to work for an employer who offers a pension scheme, and elderly individuals’ propensity to receive pension income from different sources (state, occupational, private). Such research has shown that working-age Bangladeshi and Pakistani individuals are less likely than White British individuals to work for an employer who offers a pension scheme, while Bangladeshi and Pakistani persons aged 65+ are less likely than their White British counterparts to receive a state, occupational or private pension. However, such research has not considered the role of investments and of subjective indicators in ethnic differentials. This paper applies logistic regression techniques on data from Understanding Society (2020-21) and the Family Resources Survey (2021-22) to examine the role of investments, such as having an account or investment, and of subjective indicators, such as life satisfaction, income satisfaction and subjective financial status in the association between ethnicity and pension outcomes. Among working-age persons, the results show that Bangladeshi, Indian and Black individuals were less likely than White/ White British persons to have an account or investments, and that considering one’s financial status as difficult was associated with a higher risk of being in paid work, but with a lower risk of working for an employer with a pension scheme. Among persons aged 65+, Pakistani, Bangladeshi and Chinese individuals were less likely than White/ White British persons to have any investments, while being dissatisfied with one’s income made one less likely to receive an occupational pension.
Ethnicity, workplace pension, personal pension, savings or investments, subjective financial situation, gender
Vlachantoni, Athina
06a52fbb-f2a0-4c81-9fbc-d6efc736c6cb
Yin, Yuanyuan
cdb7e6d5-a9d9-4ecc-bbaa-a10ea4350f39
Akhtar, Saddaf Naaz
aa7e6bda-4317-4905-bbde-1582a6a7bf58
Mocnik, Spela
4395a7ff-dbd7-49e1-817b-14090a389903
14 June 2024
Vlachantoni, Athina
06a52fbb-f2a0-4c81-9fbc-d6efc736c6cb
Yin, Yuanyuan
cdb7e6d5-a9d9-4ecc-bbaa-a10ea4350f39
Akhtar, Saddaf Naaz
aa7e6bda-4317-4905-bbde-1582a6a7bf58
Mocnik, Spela
4395a7ff-dbd7-49e1-817b-14090a389903
Vlachantoni, Athina, Yin, Yuanyuan, Akhtar, Saddaf Naaz and Mocnik, Spela
(2024)
Pension protection among minority ethnic groups in the UK: the role of investments and subjective indicators.
European Population Conference 2024, , Edinburgh, United Kingdom.
12 - 15 Jun 2024.
Record type:
Conference or Workshop Item
(Poster)
Abstract
Previous research has evidenced ethnic differentials among working-age individuals’ propensity to work for an employer who offers a pension scheme, and elderly individuals’ propensity to receive pension income from different sources (state, occupational, private). Such research has shown that working-age Bangladeshi and Pakistani individuals are less likely than White British individuals to work for an employer who offers a pension scheme, while Bangladeshi and Pakistani persons aged 65+ are less likely than their White British counterparts to receive a state, occupational or private pension. However, such research has not considered the role of investments and of subjective indicators in ethnic differentials. This paper applies logistic regression techniques on data from Understanding Society (2020-21) and the Family Resources Survey (2021-22) to examine the role of investments, such as having an account or investment, and of subjective indicators, such as life satisfaction, income satisfaction and subjective financial status in the association between ethnicity and pension outcomes. Among working-age persons, the results show that Bangladeshi, Indian and Black individuals were less likely than White/ White British persons to have an account or investments, and that considering one’s financial status as difficult was associated with a higher risk of being in paid work, but with a lower risk of working for an employer with a pension scheme. Among persons aged 65+, Pakistani, Bangladeshi and Chinese individuals were less likely than White/ White British persons to have any investments, while being dissatisfied with one’s income made one less likely to receive an occupational pension.
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Published date: 14 June 2024
Venue - Dates:
European Population Conference 2024, , Edinburgh, United Kingdom, 2024-06-12 - 2024-06-15
Keywords:
Ethnicity, workplace pension, personal pension, savings or investments, subjective financial situation, gender
Identifiers
Local EPrints ID: 494537
URI: http://eprints.soton.ac.uk/id/eprint/494537
PURE UUID: dbdf28e3-ef60-43bb-9e06-00e23530faff
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Date deposited: 10 Oct 2024 16:37
Last modified: 11 Oct 2024 02:06
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Contributors
Author:
Saddaf Naaz Akhtar
Author:
Spela Mocnik
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