Household retirement savings in South Africa: an analysis of pre- and post-global financial crisis determinants

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2014-12-22

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Ting, Ling-Hsuan

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Abstract

This study investigates Life Cycle Hypothesis savings behaviour among South African households. The mobility matrix methodology as well as a multivariate regression analysis was employed to assess the implications of a permanent increase and a temporary decrease in household incomes based on the impacts of the global financial crisis. Using the General Household Survey data from 2002 - 2010, the study concludes that life cycle savings were greater during the period of 2002 - 2004 (,pre-financial crisis') compared with the period of 2008 - 2010 (,post-financial crisis'). Overall, the global financial crisis significantly negatively impacted household retirement savings.

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household savings, savings mobility, life cycle

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