Exploring Potential Linkages between Social Support, Retirement and Subjective Wellbeing among Older Indians: Does it a Challenge to Policy Makers?

Subjective wellbeing is an important component of wellbeing that benefits people by influencing their subjective feelings. Using the Building Knowledge Base on Population Ageing in India (BKPA12011) survey data, the study attempts to investigate the linkages between social support and subjective wellbeing (SWB) among older adults of age 60 and above in India. The path analysis revealed that the social support have an indirectly effect on SWB through mediating role of family income, education, religion and financial status. The social support explained 23% of the variation in SWB. The structural equation model were performed to test the relationship between the latent variables divided into exogenous and endogenous, with the former affecting the latter. Study also tested the reliability of the questionnaire scores and its criterion and structural validity of SWB. The results confirm the validity is suitable for the multidimensional assessment of SWB. Using instrumental variables approach there is moderate evidence of positive correlation and endogenous regressors social support yield unbiased and consistent and effect of being involuntary retired has a negative on SWB, hut the effect is not significantly different from zero. However, this study doesn't found significant positive effect between retirement and SWB. In view of the findings, the study calls for devising policy implications that contribute to support and wellbeing research for future.