Antecedents and consequences of retirement planning and decision-making: A meta-analysis and model

In this study, meta-analytic procedures were used to examine the relationships between retirement planning, retirement decision and their antecedent and consequences. Our review of the literature generated 341 independent samples obtained from 99 primary studies with 188,222 participants. A small effect size (ES) for antecedents of retirement planning (poor health, negative working conditions and positive attitudes toward retirement) was obtained (ranging from r = .05 to r = .19), whereas a medium ES was obtained for work involvement and job satisfaction (r = −.31 and r = −.34). Regarding retirement decision, lower effect sizes were obtained. Effect sizes for the relationships with consequences were medium for retirement planning and bridge employment (r = .28), for retirement decision-volunteer work (r = .26), and for retirement decision-retirement satisfaction (r = .26). Structural equation analysis using the pooled correlation matrix allowed us to test a more complex model. Potential moderator variables were examined, and it was found that they explained only a small percentage of variability of primary studies. Results are discussed, and theoretical and empirical implications are suggested.