Development of a Pre-Retirement Planning Program on Subjective Well-Being for Informal Sector Workers in Songkhla Province, Thailand

Abstract

Thailand is facing a rapidly aging society, raising concerns about how retiring workers will maintain their quality of life. Insured persons in the social security system—especially voluntary members under Section 40 of the Social Security Act B.E. 2533 (1990), who are often informal workers—frequently lack formal retirement plans, underscoring the need for interventions that address financial security and subjective well-being (SWB) in later life. This study aimed to develop and evaluate a retirement planning program designed to enhance subjective well-being and improve the quality of life for pre-retirees in Songkhla Province. A Research and Development (R&D) design was employed in four phases. Phase 1 (R1) involved a needs assessment: survey data from 500 insured individuals (ages 40–60) were collected to identify gaps between current and desired retirement preparedness. Phase 2 (D1) utilized the needs assessment results and theoretical frameworks to design a Subjective Well-being Retirement Planning Program, encompassing financial, health, and psychosocial components. Content-relevance experts validated the draft program. Phase 3 (R2) involved implementing the program with 15 volunteer participants over four weekly workshops (each 3 h long) and evaluating its short-term pilot outcomes using pretest-posttest measures of subjective well-being. Phase 4 (D2) refined the program based on evaluation findings and expert feedback. Results indicated that following participation in the program, participants’ overall subjective well-being and all sub-dimensions (life satisfaction, positive and negative affect balance, sense of meaning, social connectedness, security, and health) were significantly higher than before (p < 0.001). Additionally, the proportion of participants classified as inadequately prepared for retirement (high-risk due to low planning) decreased markedly, suggesting increased readiness within the pilot group. Expert evaluations of the program design reflected a high content validity index and strong agreement on the program’s accuracy, appropriateness, and usefulness for the target group. In conclusion, the developed retirement planning program was associated with short-term improvements in subjective well-being and quality-of-life indicators among insured pre-retirees. This theory-informed program, developed through an R&D process, offers a model for supporting aging workers in the social security system, with implications for policymakers and practitioners seeking to promote healthy, happy, and secure retirements in an aging society.

1. Introduction

Population aging is a major global trend with profound social and economic implications. As people live longer and birth rates decline, the world’s demographic structure is steadily shifting toward an “aged society.” According to United Nations projections, by 2050, one in six people worldwide will be over age 65 (up from one in eleven in 2019) [1]. Many countries are already experiencing this surge in their elderly populations, raising questions about how to support growing elderly populations. Developed nations have aged gradually over many decades, giving them time to build pension systems and healthcare services; in contrast, many middle-income and developing countries in Asia and Latin America—including Thailand, Vietnam, Indonesia, and the Philippines are aging more rapidly with more limited resources [1,2]. This global context sets the stage for urgent discussions on retirement security, healthcare capacity, and social support systems for older adults worldwide.

Thailand exemplifies these challenges as it undergoes a swift demographic transition to an aged society. The share of older adults in Thailand has risen dramatically over the past few decades. For instance, the proportion of the population aged 65 and above increased from only about 6.8% in 1994 to 16.7% in 2017 [2]. In 2023, Thailand officially entered the status of a “complete aged society,” with over 20% of its population aged 65 or older [3]. This milestone came less than 20 years after Thailand first reached the “aging society” threshold (10% elderly), a pace significantly faster than that of many higher-income countries [4]. Projections indicate that within the next decade, Thailand will become a “super-aged society,” meaning more than 30% of Thais will be 60 or older [5,6]. These rapid changes reflect the successes of public health improvements, expanded access to medical care, and past family planning policies, which together reduced mortality and fertility rates. However, they also raise serious questions about the country’s preparedness to support an aging population. Key issues include ensuring adequate healthcare services (and long-term care for the very old), financial security for retirees, and social support for the well-being of older persons [6,7,8]. Notably, the demand for long-term care is expected to rise sharply—more than 700,000 Thai seniors needed long-term care in 2020, and by 2024, an estimated 2.78 million older people will be dependent on others for care. Addressing these needs is now a pressing concern for Thai society and the government [9].

One critical aspect of aging well is retirement preparedness. Retirement marks a major life transition that can affect an individual’s financial security, health, and psychological well-being [10,11]. Adequate retirement planning—financially, mentally, and socially—is linked to better adjustment and a higher quality of life in old age. Conversely, a lack of preparation may lead to economic hardship, health problems, and reduced life satisfaction among retirees. Alarmingly, evidence suggests that many Thai people are not well-prepared for retirement. A recent survey by the Bank of Thailand (2017) found that only 25% of Thais met their retirement savings goals, leaving the vast majority (75%) unable to achieve a secure retirement as planned [10]. Another national assessment found that roughly 90% of Thai citizens had insufficient preparation for old age. The same report noted that about 88% of elderly Thais had never made any specific health or financial preparations before the preretirement age [10]. These figures underscore a widespread lack of retirement readiness, which could leave millions of older adults vulnerable. Insufficient savings, lack of health planning, and limited awareness of retirement needs can leave individuals financially insecure and with poor health outcomes after they stop working [12,13].

The problem is especially pronounced for those outside the formal employment system, who often have no employer-provided pension or guidance. In Thailand, the formal sector workforce is covered by mandatory retirement schemes (such as the Social Security Fund for private employees and pension programs for civil servants). However, a significant portion of the workforce is in the informal sector. Informality remains widespread—as of 2023, over 52% of Thai workers (around 21 million people) were in informal employment [8]. These workers do not have stable, salaried jobs with regular employer benefits. To extend social protection to this group, the government allows informal workers to voluntarily join the Social Security system under Section 40 of the Social Security Act B.E. 2533 (1990). Section 40 was established to open basic social security coverage for self-employed and informal workers who are not eligible for the compulsory scheme [14]. By enrolling as Section 40, insured persons and informal workers can contribute a small monthly amount to receive limited benefits such as access to some health insurance, disability and survivors’ benefits, and a modest old-age benefit. In practice, however, the coverage and adequacy of these provisions are quite limited. There are multiple contribution options under Section 40 (ranging from 70 to 300 baht per month), but even the highest tier provides only a lump-sum old-age grant at age 60 rather than a sustained pension [15]. In other words, unlike formal employees who can receive a monthly pension after retirement, informal contributors generally receive a one-time payout that is often relatively small. As a result, the old-age entitlements for Section 40 members are far less generous than those for formal sector workers [12,14,15].

Many informal workers cannot accumulate enough through this scheme to support themselves for the length of their retirement. Moreover, enrollment in Section 40 remains suboptimal. Studies have found that a combination of low awareness, perceived inadequacy of benefits, affordability issues, and reliance on other social assistance programs has been associated with low uptake of voluntary retirement schemes among informal workers [12,15]. Even those who do receive the government’s flat old-age allowance (a non-contributory stipend of a few hundred baht per month given to all seniors) often struggle financially, since the amount is very low [12]. In sum, Thailand currently lacks a robust, comprehensive support system for retirees in the informal sector. There is a notable gap in holistic retirement preparation programs—most efforts for informal workers focus narrowly on basic financial support (e.g., a lump-sum benefit or an old-age allowance) without addressing broader needs, such as health maintenance, psychological readiness, and social well-being in later life. This gap in support and planning for informal-sector older adults is a critical problem that this research aims to address [12,15,16,17].

Quality of life in retirement depends on more than just financial stability; subjective well-being plays a key role in how positively people experience their later years [13,18,19]. Subjective well-being (SWB) is typically defined as a person’s evaluation of their life, encompassing both cognitive judgments (e.g., life satisfaction) and affective states (e.g., positive emotions and the relative absence of negative emotions) [13,18]. In other words, SWB captures how people perceive and feel about their lives, and it is closely related to the concept of “happiness.” An individual with high subjective well-being generally reports being satisfied with life, frequently experiencing positive moods (joy and contentment), and infrequently experiencing negative moods (such as sadness or anxiety). This concept is often used interchangeably with aspects of happiness and quality of life in social science research. Fostering subjective well-being in retirees is important because psychological and emotional health strongly influence physical health outcomes. Research has shown that people with higher subjective well-being tend to enjoy better physical health and even greater longevity compared to those with lower well-being. Greater happiness and life satisfaction are associated with lower risks of chronic illness and depression, and with improved overall functioning in daily life [19]. In the context of an aging population, this means that helping older adults maintain a positive outlook and mental wellness can have tangible benefits: it can potentially reduce healthcare needs, delay the onset of disability, and lighten the burden on families and health systems [19]. Thus, promoting subjective well-being is a legitimate and important goal for any program that seeks to improve retirees’ quality of life, alongside the more traditional goals of financial security and physical health.

Recognizing the challenges outlined above, this study focuses on developing and testing a pre-retirement planning program for informal workers in Songkhla Province that emphasizes subjective well-being. Songkhla, a province in southern Thailand, provides a relevant context for this research for several reasons. It has a mix of urban and rural communities and a diverse economy, ranging from agriculture and fisheries to trade and services. Many workers in Songkhla are engaged in informal employment—for example, fishing communities, small-scale traders, laborers, and others who are likely to be Section 40 insured persons or otherwise not covered by formal retirement schemes [20]. Many of these individuals face income uncertainty and lack structured retirement plans. In fact, independent workers often experience greater stress and uncertainty about their future than formal-sector employees, due to irregular incomes and the absence of employer-provided retirement benefits [21]. Ensuring that this group can maintain a good quality of life in retirement is both a personal welfare concern and a public policy challenge. Songkhla’s demographic profile is also aging, mirroring the national trend; therefore, the need for structured, context-specific retirement preparation programs is growing. By focusing on Songkhla, the study can tailor the program to the local cultural and economic context, while addressing universal issues of retirement readiness that may apply to other provinces.

The central premise of this research is that a structured, holistic pre-retirement planning program, integrating financial planning with training in health maintenance, psychological preparedness, and social engagement, may be associated with improved retirement readiness and subjective well-being among future retirees in the informal sector. Traditionally, retirement planning interventions (when they exist) tend to center on financial literacy and savings [11]. In contrast, the program developed in this study adopts a more comprehensive approach. It is designed to enhance participants’ subjective well-being by building competencies in these areas: health management and psychological and social readiness. The inclusion of these multiple dimensions is based on the understanding that a good retirement is not solely about having enough money, but also about staying healthy, mentally active, and socially connected. By addressing both physical and emotional well-being, the program aims to provide informal workers with a more holistic toolkit for navigating retirement. This kind of integrated preparation is largely lacking in current government or community programs in Thailand, especially for informal workers, so the developed program could serve as a model to fill that gap. It seeks to improve objective outcomes (like knowledge gained or behaviors changed). It explicitly focuses on improving subjective well-being—helping participants feel more confident, happy, and purposeful as they approach their later life.

This paper is organized following the model of academic program development research. After this introduction, the theoretical framework is presented, including key concepts and literature on well-being and retirement preparation. The specific research objectives are then stated. Section 2 describes the research design, which follows a multi-phase Research and Development (R&D) process: an initial needs assessment of the target group, the design and development of the retirement planning program, and subsequent phases of implementation and evaluation. Next, Section 3 reports on the program that was developed and the findings from testing it with participants (including any improvements in their preparedness or well-being). In the Discussion, the significance of the findings is interpreted in light of the existing literature, and the implications for theory, practice, and policy are explored. Finally, the conclusion summarizes the study’s contributions and offers recommendations for future applications of the program and for further research. By developing and evaluating this subjective well-being-focused retirement planning program for Songkhla’s informal workers, the study aims to contribute knowledge and practical strategies for enhancing the quality of life of older adults in Thailand’s aging society. The insights gained could inform broader efforts to support informal-sector workers as they transition into retirement, ensuring they can subsist and truly thrive in their later years [16].

The specific objectives of this study were: (1) To assess priority needs for retirement planning among informal workers in Songkhla Province. (2) To develop a multidimensional retirement planning program based on these identified needs. (3) To evaluate short-term changes in subjective well-being (SWB) and retirement preparedness following participation in the pilot SWRP Program.

H1. 

Participants completing the SWRP Program will demonstrate statistically significant pre–post improvements in subjective well-being (SWB) scores across all measured dimensions compared to their baseline assessment.

2. Materials and Methods

2.1. Participants and Setting

This study was conducted in Songkhla Province, southern Thailand, an area characterized by a mixed urban–rural economy and a substantial proportion of informal sector workers. The target population comprised insured persons under Section 40 of the Social Security Act B.E. 2533 (1990), who are predominantly self-employed or informal workers without access to formal pension systems.

Participant recruitment varied across research phases in accordance with the multi-phase Research and Development (R&D) design. Separate sampling procedures were therefore used for Phase 1 (needs assessment) and Phase 3 (pilot implementation).

Phase 1: Needs Assessment. A stratified random sampling technique was employed to ensure proportional representation across age subgroups. Age was used as the stratification variable because planning behaviors and retirement expectations may vary across cohorts approaching retirement. The required sample size was calculated using Yamane’s formula, resulting in a final sample of 500 participants. Inclusion criteria for Phase 1 were: (i) aged 40–60 years; (ii) currently insured under Section 40; and (iii) resident of Songkhla Province. Phase 3: Pilot Implementation. A purposive sampling method was used to recruit 15 participants for the program’s pilot implementation. Inclusion criteria for Phase 3 were: (i) registered as an informal worker for at least 3 years; (ii) aged 40–60 years; and (iii) ability to attend all four workshop sessions. As this phase was conducted within an R&D pilot framework, the sample size was intended to assess feasibility and short-term pilot outcomes rather than to provide population-level generalization.

2.2. Measurements

Three primary instruments were developed and validated for this study: (1) Needs Assessment Questionnaire (Phase 1): The Needs Assessment Questionnaire was developed by the researchers (Nattha Lertpanyawiwat) based on the literature review, the study objectives, and the conceptual domains of retirement preparedness used in this study. Its content was informed by the study framework and reviewed by experts for content validity. This instrument comprised three parts: (i) Demographic checklist; (ii) an assessment of retirement preparedness measuring the gap between participants’ “current practices” and “desired states” across six domains (financial preparedness, physical health, mental well-being, social life, life satisfaction, and meaning in life) using a 5-point Likert scale; and (iii) Preferences for intervention methods. Content validity was verified by three experts (IOC = 0.67–1.00). A pilot test (n = 15) yielded a high reliability coefficient (Cronbach’s α = 0.89). (2) Subjective Well-being (SWB) Evaluation Form (Phase 3): To assess short-term pre–post change following participation in the SWRP Program, a retirement-relevant SWB outcome measure was developed for this study. Item generation was guided by the conceptual structure of established SWB instruments [14,15], including the Satisfaction with Life Scale (SWLS) (cognitive evaluation of life) [22] and the Positive and Negative Affect Schedule (PANAS) (affective experience) [23], with additional alignment to the OECD Guidelines on Measuring Subjective Well-being. The measure should therefore be interpreted as an exploratory, retirement-relevant SWB outcome measure developed for this study, rather than as a fully established, standalone scale. The final instrument comprised 28 items across seven domains (four items per domain). Conceptually, the instrument was organized around three broad dimensions relevant to retirement-related subjective well-being: cognitive-evaluative (life satisfaction, meaning in life), affective (positive affect, negative affect), and contextual-relational (social connectedness, security and stability, perceived health).

The first two dimensions preserve the core structure of established SWB theory. In contrast, the third dimension was included to capture contextually salient aspects of well-being during the transition to retirement among informal workers and to preserve the core distinction between cognitive and affective components in the SWLS/PANAS. Responses were rated on a 5-point Likert scale (1 = strongly disagree to 5 = strongly agree). Three experts reviewed content validity (IOC = 0.67–1.00). The scale showed good internal consistency in the pilot sample (Cronbach’s α = 0.85). Example items and a domain-to-construct mapping are provided in Appendix A (

Table A1. domains and representative items for the study-specific SWB Evaluation Form.

Domain Assessed in This Study	Conceptual Anchor	Representative Item(s) (Examples)	Scoring Notes
Life satisfaction	SWLS (cognitive evaluation of life)	“I am satisfied with my life at this stage.” “Overall, my life is going well.”	Higher = greater life satisfaction
Positive affect	PANAS (positive affect)	“In the past week, I often felt cheerful.” “I often felt hopeful about my future.”	Higher = more positive affect
Negative affect	PANAS (negative affect)	“In the past week, I felt worried or anxious.” “I often felt tense about the future.”	Reverse-scored
Meaning in life	Meaning/purpose component of SWB	“I feel my life has a clear purpose.” “I feel my daily activities are meaningful.”	Higher = stronger meaning
Social connectedness	Perceived social support/connectedness	“I have people I can rely on when facing difficulties.” “I feel connected to people in my community.”	Higher = stronger connectedness
Security and stability	Perceived security/financial stability	“I feel confident about my financial security for the future.” “I feel more prepared for unexpected expenses.”	Higher = greater perceived security
Physical and mental health	Self-rated health/functional readiness	“I feel physically able to do my daily activities.” “I am taking steps to maintain my health as I age.”	Higher = better perceived health

). (3) Program Materials: The researchers developed program materials to support the intervention delivery, including presentation slides, participant worksheets, activity guides, and a participant handbook. Each module included learning objectives and structured activities. For example, the financial module included budgeting tools and retirement needs calculations; the health module included a healthy-habits checklist and an exercise schedule template; and the psychosocial module included reflective writing prompts on life goals and role-play activities to strengthen social engagement. The expert panel reviewed these materials to confirm accuracy, cultural appropriateness, and suitability for adult learners. The program design was grounded in Continuity Theory [24] and Active Aging principles [25]. (4) Expert Evaluation Form: A structured rubric used in Phases 2 and 4 for experts to evaluate the program’s accuracy, appropriateness, feasibility, and utility.

2.3. Design and Procedure

This research utilizes a Research and Development (R&D) methodology, structured in sequential phases, to systematically develop and test the retirement planning program. The overall design can be described as a mixed-methods research and development approach, combining quantitative surveys, qualitative insights, and experimental implementation. Following established R&D models, the study was carried out in four phases—alternating between investigative “Research (R)” phases and “Development (D)” phases—as follows: Phase 1—Research (R1): Exploratory Research and Needs Assessment. The first phase involved gathering information to understand the needs and gaps in promoting a good quality of life through pre-retirement planning. The researchers conducted a needs assessment survey and some qualitative inquiries to analyze the current state of retirement preparedness among the target population and their unmet needs. This phase corresponded to the “Assessment” step of the program development process. Phase 2—Development (D1): Program Design and Development. In the second phase, the research used findings from Phase 1, along with theoretical and empirical literature, to design the Subjective Well-being Retirement Planning Program. This involved defining the program’s goals, content, and structure; developing materials (such as workshop curricula, activities, and evaluation instruments); and consulting experts to refine the program. Phase 2 corresponds to the “Planning” and initial “Implementation (design)” steps of program development, culminating in a pilot-ready program. Phase 3—Research (R2): Program Implementation (Experimentation) and Evaluation. The third phase was an experimental trial of the developed program. The researchers implemented the program with a sample of participants (distinct from those surveyed in Phase 1) and evaluated its outcomes. This phase had a quasi-experimental one-group pretest-posttest design to assess short-term pre–post changes following participation in the program. It corresponds to the “Implementation” and “Post-assessment (evaluation)” steps, where data on the program’s short-term pilot outcomes were collected. Phase 4—Development (D2): Program Revision and Finalization. In the fourth phase, the research analyzed the evaluation results and gathered feedback to improve and finalize the program. Any necessary adjustments to the program content or delivery were made to enhance its feasibility, clarity, and practical applicability. This phase is akin to an “Administrative Decision” step, finalizing the intervention model for future use or wider implementation.

2.4. Program Development and Content

Phase 1 (Exploratory Research): The needs assessment survey was administered to analyze the gaps in retirement preparedness among the target population. Phase 2 (Program Development): Guided by the needs assessment findings and theoretical frameworks (Continuity Theory [19] and Active Aging [20]), the researchers designed the Subjective Well-being Retirement Planning (SWRP) curriculum. The curriculum integrated the six identified domains of well-being into a cohesive 4-session workshop series (12 h total), enabling participants to map their current skills and social roles to a post-retirement context. (Note: The specific curriculum structure is detailed in Section 3). Phase 3 (Pilot Experimentation): The intervention lasted 4 weeks. Participants completed the pre-test (T₁) one week before the first session. The program consisted of four weekly 3 h workshops utilizing active learning methods. The post-test (T₂) was administered immediately upon completion of the final session. Phase 4 (Refinement): Post-intervention data and participant feedback were analyzed to refine the program materials for broader future implementation.

2.5. Data Analysis

Quantitative data were analyzed using IBM SPSS Statistics for Windows, Version 26.0 (IBM Corp., Armonk, NY, USA). Needs Assessment: Descriptive statistics (mean, SD) were used. The modified Priority Needs Index was calculated as PNI = (Desired Readiness—Current Readiness)/Current Readiness to rank the urgency of needs across domains. Higher PNI values indicate larger perceived gaps between current and desired conditions and, therefore, a greater priority for intervention. Pilot Outcomes: Paired-samples t-tests were used to examine pre–post differences in SWB and retirement preparedness scores, with p < 0.05 set as the criterion for statistical significance. To support interpretation of practical significance in this small pilot, effect sizes were reported as Cohen’s dz for paired designs (dz = |t|/√n) and are presented alongside p-values in

Table 1. Comparison of subjective well-being (SWB) scores before and after the SWRP Program (n = 15).

SWB Dimension	Pre-Program Mean ± SD	Post-Program Mean ± SD	t (df = 14)	p-Value	Effect Size (Cohen’s d; dz)
Overall subjective well-being	3.10 ± 0.42	4.02 ± 0.39	−9.50	<0.001	2.45
Life satisfaction	2.95 ± 0.58	4.10 ± 0.49	−7.88	<0.001	2.03
Positive affect	3.05 ± 0.51	4.15 ± 0.44	−8.32	<0.001	2.15
Negative affect (reverse)	3.20 ± 0.47	4.00 ± 0.41	−6.91	<0.001	1.78
Meaning in life	3.00 ± 0.55	4.20 ± 0.46	−8.05	<0.001	2.08
Social connectedness	3.40 ± 0.50	4.25 ± 0.43	−7.46	<0.001	1.93
Security and stability	2.90 ± 0.60	4.10 ± 0.52	−8.71	<0.001	2.25
Physical and mental health	3.25 ± 0.48	4.05 ± 0.45	−7.02	<0.001	1.81

Note: Higher scores indicate better subjective well-being. Statistical significance was tested using paired-sample t-tests. Effect size is Cohen’s d for paired samples (dz = |t|/√n; n = 15).

and

Table 2. Changes in Retirement preparedness indicators before and after the SWRP Program (n = 15).

Indicator	Pre-Program Mean ± SD	Post-Program Mean ± SD	t (df = 14)	p-Value	Effect Size (Cohen’s d; dz)
Overall retirement preparedness	2.85 ± 0.54	4.05 ± 0.46	−8.62	<0.001	2.23
Confidence in financial planning	2.70 ± 0.63	4.00 ± 0.55	−7.94	<0.001	2.05
Retirement worry (reverse)	2.65 ± 0.58	4.10 ± 0.50	−8.15	<0.001	2.10
Health planning readiness	3.10 ± 0.49	4.15 ± 0.45	−6.88	<0.001	1.78
Social participation intention	3.20 ± 0.52	4.30 ± 0.48	−7.21	<0.001	1.86

Note: Higher scores indicate better preparedness or lower perceived risk (reverse-scored as indicated). Statistical significance was tested using paired-sample t-tests. Effect size is Cohen’s d for paired samples (dz = |t|/√n; n = 15).

.

2.6. Conceptual

To clarify how priority needs were translated into intervention components and expected outcomes, a program logic model was developed (Figure 1). The model links needs identified in Phase 1 (e.g., perceived gaps in security and stability, health readiness, life satisfaction, and social connectedness) to SWRP components (financial planning, health planning, affect regulation practices, goal setting/meaning, and social network strengthening). These components are hypothesized to operate through three mechanisms: (i) capability enhancement (knowledge, skills, and self-efficacy for planning), (ii) affect regulation (strategies to manage retirement-related stress and negative affect), and (iii) social reinforcement (peer support and normalization). The expected short-term outcomes are increased SWB and retirement preparedness; longer-term intended outcomes include a smoother retirement transition and sustained well-being.

As shown in Figure 1, the SWRP Program was conceptualized as a theoretically informed pathway linking empirically identified needs to intervention components, proposed mechanisms of change, and short- and long-term outcomes.

3. Results

3.1. Needs Assessment Findings (Phase 1)

The initial phase of the study involved a comprehensive needs assessment to evaluate the subjective well-being and retirement preparedness of the target population. Data were collected from a stratified random sample of 500 Section 40 contributors in Songkhla Province. The demographic profile of the respondents revealed a relatively balanced gender distribution, comprising 52.8% female and 47.2% male participants. In terms of age distribution, the largest cohort was in the 40–45-year age bracket (37.0%), followed by those aged 46–50 years (30.4%), indicating that most of the sample was in the mid-to-late career stage, where retirement planning becomes increasingly critical. Economically, the largest proportion of respondents reported a monthly income of 15,000–30,000 THB (49.0%). The Modified Priority Needs Index (PNI) analysis revealed distinct gaps between participants’ current realities and desired outcomes. The findings are presented in descending order of priority:

• Security and Stability (PNI = 0.60): This domain exhibited the highest priority need. Participants rated their current security at a moderate level (Mean = 3.0 ± 0.8), while their desired level was extremely high (Mean = 4.8 ± 0.4).
• Physical and Mental Health (PNI = 0.44): Current health readiness was rated at 3.2 ± 0.7, contrasted with a desired state of 4.6 ± 0.5.
• Life Satisfaction (PNI = 0.31): Participants reported the lowest current baseline score (Mean = 2.9 ± 0.9).
• Social Connectedness (PNI = 0.21): A moderate gap between the current state (3.4 ± 0.6) and the desired state (4.5 ± 0.6) was observed.
• Meaning in Life (PNI = 0.15): Participants reported a high current sense of meaning (4.0 ± 0.5) but desired a higher level (4.6 ± 0.5).

3.2. Program Development and Content (Phase 2)

Guided by the needs assessment, the Subjective Well-being Retirement Planning (SWRP) Program was developed. The curriculum integrated the six identified domains of well-being into a cohesive 4-session workshop series (12 h total). The program design was grounded in Continuity Theory [19] and Active Aging principles [20], ensuring that participants could map their current skills and social roles onto a post-retirement context.

3.2.1. Core Components of the SWRP Program

The intervention comprised six modules designed to address the specific deficits identified in Phase 1:

• Security and Stability: Addressed the highest priority need (PNI = 0.60) by providing financial literacy training specific to the Section 40 lump-sum benefit and legal planning for later life.
• Physical and Mental Health: Focused on preventive health behaviors (nutrition, 150 min/week physical activity) and cognitive reframing techniques to build psychological resilience.
• Life Satisfaction and Goal Setting: Utilized value-clarification exercises to help participants define “success” in retirement beyond financial wealth.
• Social Connectedness: Involved social mapping activities to identify support networks and strategies to prevent social isolation after leaving the workforce.
• Meaning in Life: Encouraged the development of “retirement visions,” identifying volunteerism or hobbies that provide a sense of purpose.
• Emotional Well-being: Taught specific affect-regulation skills, including mindfulness and gratitude journaling, to manage retirement anxiety.

These six components collectively cover the multifaceted nature of subjective well-being. By addressing each, the program ensures that improvement in one area (say, financial security) is complemented by progress in others (like health or social life), creating a balanced preparation for retirement.

3.2.2. Program Structure and Delivery

The content was delivered through active learning methods, including role-playing, peer discussions, and personalized action planning:

• Session 1: “Healthy Body, Healthy Start” (3 h). This session focused on biological aging and the prevention of non-communicable diseases (NCDs). Participants received nutrition guidance (emphasizing low-sugar fruits and low-fat proteins) and instruction on the World Health Organization’s exercise guidelines (150 min of moderate-intensity activity per week). A “Healthy Logbook” was introduced, in which participants recorded specific personal health commitments to implement immediately.
• Session 2: “Peaceful Mind and Life Purpose” (3 h). Addressed the psychological transition to retirement. The workshop utilized positive psychology techniques, including mindfulness breathing, gratitude journaling, and cognitive reframing to manage stress and replace self-critical narratives. Participants explored potential hobbies and created a “Happiness Journal” to track daily positive experiences and foster emotional resilience.
• Session 3: “Social Connection and Support Network” (3 h). Emphasized the maintenance of social capital post-retirement. Participants learned communication strategies tailored for older adults and completed a “Social Network Map” to identify 3–5 key support figures (family, friends, neighbors). The session concluded with the development of an Action Plan to initiate new community ties or strengthen existing relationships.
• Session 4: “Meaningful Life and Reflection” (3 h). Synthesized the physical, psychological, and social domains into a cohesive strategy. Participants defined their core values and drafted a specific “Purpose Statement” for their retirement years. They selected three “Keystone Actions” to execute over the subsequent 12 weeks. The program concluded with a graduation ceremony to reinforce commitment to goals and self-efficacy.

3.3. Pilot Program Outcomes (Phase 3)

Pilot outcomes were assessed using quantitative pretest–posttest measures (n = 15) and qualitative participant feedback.

3.3.1. Comparison of Subjective Well-Being Scores

Table 1 presents paired-samples t-test results and within-participant effect sizes for the pilot evaluation. Overall subjective well-being was higher at posttest than at pretest (3.10 ± 0.42 vs. 4.02 ± 0.39; t(14) = −9.50, p < 0.001; Cohen’s d (dz) = 2.45). Statistically significant improvements were observed across all seven SWB domains (p < 0.001), with large effect sizes (dz = 1.78–2.25). No participant showed a decline in SWB scores from pre-program to post-program.

3.3.2. Changes in Retirement Readiness Levels

In addition to improvements in subjective well-being, participants reported higher retirement preparedness at posttest compared to pretest. As shown in Table 2, the overall retirement preparedness score increased from 2.85 (±0.54) at pretest to 4.05 (±0.46) at posttest (t(14) = −8.62, p < 0.001; Cohen’s d (dz) = 2.23). All preparedness indicators showed statistically significant pre–post improvements (p < 0.001), with large effect sizes (dz = 1.78–2.10). These findings are consistent with short-term gains in planning confidence and reduced retirement-related worry within the pilot group.

These findings represent within-sample changes observed over a short follow-up period and should be interpreted in light of the study design.

3.3.3. Participant Feedback

Qualitative feedback from the program satisfaction survey indicated high satisfaction. Participants highlighted the utility of the financial planning tools and the social support gained during workshops. Specific comments included:

• “I have learned more in these few weeks than in years of thinking about retirement alone. Now I know what to do, and I feel much better.”
• “The session on health made me realize I need to take care of myself now, not later. I already started walking every morning.”
• “I really liked that we got to meet others like us. We plan to keep meeting as a group even after this—maybe once a month—to support each other.”
• “I especially liked the financial planning; I finally wrote down my budget. I see where I can cut some expenses and save for my old age.”
• “Before this, I was afraid of retiring. Now I’m looking forward to it because I have projects I want to do.”

3.4. Program Refinement (Phase 4)

Following the analysis of the pilot results, the program underwent a final review by the expert panel. The experts confirmed that the intervention was culturally appropriate and aligned with the theoretical framework. Based on participant feedback regarding the need for ongoing support, minor refinements were made—specifically the inclusion of a local resource appendix—resulting in the finalized “Subjective Well-being Retirement Planning Program” ready for broader application.

4. Discussion

4.1. Overview and Alignment with Working Hypotheses

This study examined the hypothesis that a holistic, multi-domain pre-retirement planning program was associated with short-term improvements in subjective well-being (SWB) among Section 40 insured persons. The findings support the working hypothesis (H1), as statistically significant pre–post differences were observed across all measured SWB dimensions (p < 0.001). However, given the pilot nature of the study and the small sample size, these results should be interpreted as preliminary evidence of feasibility and potential benefit rather than definitive causal proof. Accordingly, the findings should be interpreted as preliminary, short-term within-sample changes rather than evidence of program effectiveness.

From a theoretical perspective, the observed improvements are consistent with the concept of subjective well-being (SWB), which emphasizes individuals’ cognitive evaluations of life satisfaction together with the balance between positive and negative emotional experiences. According to Diener’s framework of subjective well-being [13,18], improvements in life satisfaction and emotional balance are key indicators of enhanced well-being. The increases observed in the present study, therefore, suggest that structured pre-retirement preparation may contribute positively to both the cognitive and affective components of SWB [13,18].

The findings are also consistent with Atchley’s Continuity Theory [24], which proposes that successful adaptation to later life is facilitated when individuals maintain and reorganize existing roles, routines, values, and psychosocial resources across life transitions. Through activities such as financial planning, health management, and social engagement exercises, the SWRP Program may have supported this process of adaptive continuity by helping participants connect their current capacities with anticipated retirement demands.

In addition, the results align with the broader retirement planning literature [11], which emphasizes that retirement readiness should be understood as a multidimensional process involving financial, health, and psychosocial preparation rather than financial planning alone. By integrating these domains into a single intervention, participation in the program may be associated with a narrowing of the gap between participants’ current level of preparedness and their desired future state.

Beyond showing that retirement preparation is multidimensional, the present study suggests that retirement planning for informal workers may be understood as a process of adaptation that integrates financial preparation with psychosocial mechanisms of change [11]. In this sense, the SWRP Program can be understood as extending existing retirement planning approaches by operationalizing psychosocial mechanisms (capability enhancement, affect regulation, and social reinforcement) as pathways linking planning activities to subjective well-being outcomes.

4.2. Interpretation of Priority Needs and Observed Change

The needs assessment identified Security and Stability as the highest priority need among informal workers (PNI = 0.60). This finding is consistent with the conceptual framework of social security systems, which aim to reduce financial vulnerability and provide income security during retirement [11,12,13]. However, for informal workers under Section 40, the existing system provides primarily a lump-sum benefit rather than a lifelong pension [11,12,13]. As a result, individuals may experience uncertainty regarding long-term financial sufficiency.

From the perspective of retirement planning theory, financial preparedness represents one of the most critical components of successful retirement adaptation [11]. Informal workers often face unstable income streams and limited access to formal pension schemes, which may increase anxiety about economic security in old age [12,15,16,17]. The high priority placed on security and stability in the needs assessment, therefore, reflects structural conditions within the social security system and highlights the importance of complementary educational interventions.

The post-intervention increase in participants’ financial confidence suggests that the program may be associated with transforming abstract retirement concerns into more concrete, manageable action plans. Through budgeting exercises, retirement-planning tools, and discussion of available resources, participants were encouraged to clarify future goals and feasible preparation strategies. This process may have increased perceived control over future economic conditions, an interpretation consistent with Bandura’s self-efficacy perspective, which emphasizes that confidence in one’s ability to manage future demands is central to adaptive behavior [21].

4.3. Plausible Mechanism of Change

The improvements observed following participation in the Subjective Well-being Retirement Planning Program (SWRP) may be explained through three interrelated pathways: capability enhancement, affective regulation, and social reinforcement.

First, capability enhancement refers to the development of practical knowledge, skills, and competencies relevant to retirement preparation. The retirement planning literature suggests that individuals who possess stronger financial literacy, health knowledge, and planning capacity are better positioned to make informed decisions and prepare for later life [11]. In the present study, participants were introduced to practical tools, including budgeting templates, health planning schedules, and reflective planning exercises. The observed pattern is consistent with the possibility that these tools supported the conversion of vague concerns into concrete, actionable strategies. This interpretation is also consistent with Bandura’s theory of self-efficacy, since greater planning competence may strengthen perceived capability and confidence in managing retirement-related demands [26].

Second, affective regulation relates directly to the emotional dimension of subjective well-being. According to Diener’s framework of SWB, well-being depends not only on life satisfaction but also on the relative balance between positive and negative affect [13,18]. Mindfulness and gratitude-based exercises incorporated into the SWRP Program may therefore have supported emotional coping by helping participants manage anxiety and uncertainty associated with aging and retirement. The observed reduction in negative affect scores is consistent with this interpretation and suggests that participation may have supported improved emotional regulation rather than merely producing temporary positive feelings.

Third, social reinforcement emerged through the group-based structure of the intervention. Participants interacted with peers facing similar life-stage concerns, enabling them to exchange ideas, share experiences, and normalize anxieties about retirement. This mechanism aligns with the World Health Organization’s Active Aging framework, which emphasizes continued social participation, supportive environments, and meaningful engagement as important foundations for later-life well-being [25]. It is also compatible with Continuity Theory (Atchley), because the development of supportive peer connections may help individuals preserve and reorganize valued social roles during the retirement transition [24]. In this sense, the program’s social dimension served not only as a learning context but also as a protective psychosocial resource.

Taken together, these mechanisms indicate that the contribution of the SWRP Program lies not only in combining multiple domains, but in showing how retirement-related learning activities may be translated into theoretically meaningful pathways of change—namely, capability enhancement, affective regulation, and social reinforcement.

4.4. Policy Implications for the Aging Context

Thailand’s rapid transition toward a super-aged society makes the findings of this study particularly relevant for policy development [3,4,5,6]. Current social protection mechanisms for informal workers primarily emphasize financial assistance, such as the Old Age Allowance and benefits under Section 40 of the Social Security system [12,14,15]. Although these measures provide important economic support, they do not directly address the psychosocial dimensions of retirement preparedness.

From the perspective of retirement planning theory and the WHO Active Aging framework, successful aging requires more than income replacement alone; it also depends on maintaining physical health, emotional stability, social participation, and meaningful life roles [11,23]. The present findings suggest that structured pre-retirement programs that combine financial preparation with psychosocial and health-related components may complement existing social protection policies by addressing these broader determinants of well-being [13,18,23].

Moreover, because the SWRP Program was implemented in a community-based format, similar initiatives may be adaptable for delivery through local administrative organizations, community health networks, or Social Security offices. In policy terms, such programs may represent a relatively low-intensity, potentially scalable strategy for improving retirement preparedness among informal workers who are not well served by formal pension systems.

4.5. Methodological Limitations

Several limitations should be considered when interpreting the findings of this pilot study. First, the small sample size (n = 15) in Phase 3 limits the statistical precision and generalizability of the results. Although appropriate for feasibility testing within a Research and Development framework, the findings should be interpreted with caution.

Second, the one-group pretest–posttest design without a control group introduces several threats to internal validity. The observed improvements may partly reflect Hawthorne effects, demand characteristics, or social desirability bias, rather than program participation alone. In addition, testing effects and regression to the mean may also have influenced the results. Because subjective well-being contains both affective and cognitive components that may fluctuate over time and context [13,18], immediate post-intervention improvements should not be assumed to indicate stable longer-term change. Accordingly, the magnitude of the observed pre–post changes should be interpreted cautiously, as some portion of these effects may reflect design-related influences rather than intervention effects alone. Given the large magnitude of pre–post effect sizes observed in this pilot sample, it is possible that these estimates were partially inflated by design-related factors such as increased participant attention, response expectations, or regression to the mean, rather than reflecting intervention-specific effects alone.

Third, outcomes were assessed immediately after program completion. This is particularly important from the perspective of Continuity Theory, because retirement adaptation is a process that unfolds over time rather than a short-term event [24]. Accordingly, the present study cannot determine whether the observed improvements reflect durable changes in retirement adjustment or only short-term post-program gains. These limitations underscore the need for controlled designs and longer follow-up periods in future research.

An additional limitation concerns the study-specific SWB Evaluation Form. Although the instrument showed acceptable internal consistency and content validity, further psychometric validation is necessary. Because the measure was administered only in the small Phase 3 pilot sample, the data were not sufficient to support exploratory or confirmatory factor analysis. Similarly, evidence of convergent and discriminant validity was not established at this stage. The measure should therefore be interpreted as an exploratory, context-specific outcome measure, and future studies should examine its factor structure and construct validity in larger samples.

4.6. Directions for Future Research

Future research should expand upon these findings by employing Randomized Controlled Trial (RCT) designs with larger and more representative samples of informal workers. Longitudinal studies are also needed to examine whether improvements in subjective well-being and retirement preparedness are sustained over time, particularly during the transition from pre-retirement to actual retirement. This is important not only for assessing the durability of the effect but also for determining whether short-term gains are translated into longer-term adaptive retirement adjustments, as implied by Continuity Theory [19]. Future studies should examine the psychometric properties of the SWB Evaluation Form more rigorously, including exploratory or confirmatory factor analyses and tests of convergent and discriminant validity in larger samples.

In addition, future studies could incorporate family-based or community-based approaches, given the important role of social and family support in retirement decision-making within Thai cultural contexts. Such adaptations would also be consistent with the Active Aging framework, which emphasizes supportive social environments and participation as key conditions for later-life well-being [25]. Finally, future work should assess the cost-effectiveness and scalability of multidimensional retirement preparation programs. Comparing comprehensive interventions such as SWRP with lower-intensity approaches, such as informational materials or brief financial education sessions, would provide useful evidence for policymakers seeking to strengthen social protection for informal workers [17].

4.7. Comparison with International and National Retirement Programs

Contrasting the Subjective Well-being Retirement Planning (SWRP) Program with existing international and Thai retirement approaches helps clarify what the program adds—particularly for informal workers who face structural vulnerabilities and limited access to employer-based retirement planning.

At the international level, retirement systems and policy debates have traditionally focused on pension design, adequacy, and sustainability, emphasizing eligibility rules, benefit formulas, and labor-force incentives rather than structured psychosocial preparation for retirement transitions [27]. Similarly, much of the retirement planning intervention literature remains concentrated on financial decision-making, savings behavior, and economic preparedness, while psychosocial, health-related, and role-transition dimensions are comparatively underdeveloped [11]. This pattern is especially consequential for informal and self-employed workers, who are often excluded from structured pension coverage and formal retirement planning support, thereby increasing their vulnerability to later-life financial insecurity and social marginalization [16,17].

From the perspective of retirement planning theory and subjective well-being frameworks, successful retirement adjustment depends not only on adequate financial resources but also on psychological preparedness, emotional resilience, and supportive social networks [11,13,18]. Within this broader context, the SWRP Program contributes a multidimensional, person-level preparation model that integrates economic, psychosocial, and health-related domains. Rather than functioning as a substitute for pension systems, the program complements existing retirement income policies by strengthening the three central mechanisms identified in the program’s conceptual framework: capability enhancement, affective regulation, and social reinforcement. These mechanisms are theoretically relevant because they are plausibly linked to increased well-being and more adaptive retirement adjustment [13,18,22,23,26].

In Thailand, retirement-related support for informal sector workers remains primarily transfer-based, comprising mainly the Section 40 lump-sum old-age benefit and the Old Age Allowance [12,14,15]. While these measures provide an important financial safety net, they do not usually include structured programs designed to strengthen psychological readiness, health maintenance behaviors, or social engagement in retirement. From the perspective of the WHO Active Aging framework and retirement planning theory, successful aging involves maintaining functional health, psychological stability, and continued participation in social life [11,23]. These dimensions, however, remain relatively underemphasized within existing support programs for informal workers.

The SWRP Program attempts to address this gap by integrating key domains of subjective well-being—including meaning and purpose in life, social engagement, emotional resilience, and health behavior planning—alongside practical financial planning tools. By combining these elements within a structured educational intervention, the program extends beyond traditional transfer-based approaches. It provides participants with practical skills and coping strategies that may support a smoother transition into retirement [13,17,18,23].

The conceptual distinctions between traditional pension approaches and the SWRP model may be summarized in three dimensions. First, scope: pension systems primarily focus on securing replacement income in retirement, whereas SWRP targets holistic retirement readiness by integrating financial planning, health management, and psychosocial preparation. Second, target population: pension schemes are often designed around formal employment structures, whereas SWRP is tailored to informal workers who are frequently underserved by conventional retirement planning programs. Third, intervention level: pension reforms operate mainly at the structural and policy level, whereas SWRP operates at the individual and community levels by building practical planning skills, emotional coping strategies, and supportive social relationships.

Beyond demonstrating multidimensionality, this study contributes to retirement planning literature by proposing a context-sensitive intervention model for informal workers that integrates financial preparation with psychosocial mechanisms of adaptation. Whereas many retirement planning approaches emphasize pension adequacy or savings behavior, the SWRP Program illustrates how retirement readiness may also be shaped by emotional regulation, perceived capability, and supportive social relationships. This perspective is particularly relevant for informal workers, whose retirement vulnerability is often shaped not only by low or irregular income but also by limited access to structured planning support and institutional guidance.

Taken together, these distinctions indicate that the SWRP Program helps fill an important gap between structural social protection policies and the everyday preparation needs of individuals approaching retirement. More broadly, it demonstrates how financial preparedness can be meaningfully integrated with psychosocial and health-related dimensions of retirement planning—domains that remain underrepresented in many retirement programs, both internationally and within Thailand.

5. Conclusions

This study employed a Research and Development (R&D) approach to design and preliminarily validate a structured pre-retirement planning program to improve subjective well-being among informal-sector workers. The pilot implementation provided initial evidence that a multidimensional intervention—integrating financial, health, and psychosocial components—was associated with improvements in retirement preparedness and psychological well-being among Section 40 insured persons. These findings should be interpreted as preliminary and context-specific, reflecting short-term outcomes within a small pilot sample.

The statistically significant improvements in subjective well-being and retirement preparedness observed following program participation suggest that addressing multidimensional preparation needs may be beneficial for populations typically underserved by conventional social protection systems. This interpretation is consistent with subjective well-being theory, which emphasizes the importance of both life evaluation and affective balance [13,18], and with retirement-adjustment perspectives that emphasize psychological resources, coping capacity, and supportive social relationships [11,22,23].

Following pilot implementation, the program was refined through expert validation, which confirmed its conceptual clarity, cultural relevance, and feasibility for community-based implementation. Importantly, the findings suggest that strengthening subjective well-being is not only a meaningful outcome in itself but may also support more adaptive attitudes and behaviors toward retirement preparation.

From a theoretical perspective, the observed pattern of results is consistent with Atchley’s Continuity Theory, suggesting that structured planning activities may help individuals maintain and reorganize personal resources, social roles, and life goals as they approach retirement [24]. By encouraging proactive preparation across financial, health, and psychosocial domains, the SWRP Program illustrates how theoretical principles of retirement adjustment can be translated into a practical intervention framework.

Future research should extend these findings through Randomized Controlled Trials (RCTs) with larger, more diverse samples to strengthen causal inference. Longitudinal studies are also needed to examine whether improvements in subjective well-being and retirement preparedness are sustained over time, particularly during the transition from pre-retirement to post-retirement life.

In addition, future program adaptations may benefit from incorporating family-inclusive approaches, reflecting the important role that family support plays in retirement decision-making within Thai cultural contexts. Evaluating the cost-effectiveness and scalability of multidimensional retirement preparation programs will also be important for informing policy development, particularly to strengthen support for informal workers [17,23].

From a policy perspective, this study highlights the potential value of complementing existing social protection mechanisms with structured pre-retirement preparation programs that address psychological and social dimensions of aging. Such programs may offer a promising, relatively low-cost strategy for supporting healthier, more adaptive retirement transitions as Thailand continues to move toward a super-aged society.