Author: Fasiha Shafiq
Supervisor: Tahira Mubasha
Degree: BS
Year: 2011-2015
University: Institute of Applied Psychology, Punjab University, Lahore, Pakistan
Abstract
For retirement, uncertainty about what comes next in regard to health, finances and activities can create apprehension or anxiety. The present study investigated the relationship in affective forecasting, organizational compensation program and retirement apprehension in employees approaching retirement. It was hypothesized that; (1) there would be relationship in affective forecasting, organizational compensation systems and retirement comprehension in employees near retirement in public organizations; (2) organizational compensation system would be moderated the relationship between affective forecasting, and retirement apprehension in employees near retirement in public organizations; and (3) there would be differences in health, education and banking sectors on affective forecasting, organizational compensation program and retirement apprehension in employee near retirement. The sample N = 150 employees near retirement from different organizations of Lahore were approached to collect data. Assessment measures were the One Item Scale of Happiness (Gilbert, 1998) and Positive And Negative Affect Schedules (Watson, Lee, & Tellegen, 1988) for assessing affective forecasting, Social Components Of Retirement Anxiety Scale (Fletcher & Hansson, 1991) for assessing retirement anxiety and self-made organizational compensation program. Pearson product moment correlation, moderation through hierarchical regression and one-way ANOVA were carried out to test hypotheses. The results revealed that there was significant negative relationship between positive affect, happiness and organizational compensation program with the retirement apprehension and there was positive relationship of negative affects with retirement apprehension. It was also found out that organizational compensation program (lumpsum amount, benefits and retirement plan) moderated the relationship between affective forecasting and retirement apprehension. There were also significant differences in the health, education and banking sectors on affective forecasting and retirement apprehension. The study has important implications in developing comprehensive compensation program which help them to decrease their apprehension regarding anxiety.
Keywords: Affective Forecasting, Organizational Compensation Program, Retirement Apprehension.
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Corresponding Address: Department of Applied Psychology, University of the Punjab, Lahore, Pakistan. Email: chairperson@appsy.pu.edu.pk, Phone: 92-42-9231245
