Factors Affecting Retirement Planning Behaviour among Working Adults in the Private Sector: The Case of Pulau Pinang, Kuala Lumpur, and Johor
- DOI
- 10.2991/978-94-6463-342-9_12How to use a DOI?
- Keywords
- Retirement Planning Behaviour; Family Education; Financial Literacy; Goal Clarity
- Abstract
Nowadays, the topic of private sector workers’ retirement has drawn a lot of attention on a global scale. This study will examine the relationship between retirement planning behaviour and variables including family education, financial literacy, and goal clarity in the context of working adults in the private sector. The results of this study can be used by policymakers and retirement planning service providers to enhance awareness and encourage better retirement planning among citizens. A total of 411 surveys had been gathered from Kuala Lumpur, Pulau Pinang, and Johor states. Data analysis was conducted using the Statistical Package for the Social Sciences (SPSS) version 27.0, employing multiple linear regression analysis. The results revealed that financial literacy and goal clarity had significant in fluences on retirement planning behaviour. However, family education is reported to be insignificantly related to retirement planning behaviour. Therefore, this study provides practical implications that relevant institutions can utilize to promote awareness and education among individuals, thereby enhancing their retirement planning behaviour.
- Copyright
- © 2023 The Author(s)
- Open Access
- Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.
Cite this article
TY - CONF AU - Heng Xu Chong AU - Whye Shing Chow AU - Divya Sri K. Vasu PY - 2023 DA - 2023/12/31 TI - Factors Affecting Retirement Planning Behaviour among Working Adults in the Private Sector: The Case of Pulau Pinang, Kuala Lumpur, and Johor BT - Proceedings of the 11th International Conference on Business, Accounting, Finance and Economics (BAFE 2023) PB - Atlantis Press SP - 147 EP - 168 SN - 2352-5428 UR - https://doi.org/10.2991/978-94-6463-342-9_12 DO - 10.2991/978-94-6463-342-9_12 ID - Chong2023 ER -