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Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia

Retirement confidence among working adults has been highlighted as one of the major concerns of every nation in the world due to rapid growth of the aging population. As a developing nation, this issue has also impacted Malaysia. Therefore, this study is aimed to identify determinants of retirement...

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Main Author: Arunagiri, Shanmugam
Format: Thesis
Language:English
English
English
Published: 2019
Subjects:
HF5549-5549.5 Personnel Management. Employment
Online Access:https://etd.uum.edu.my/8434/1/s93772_01.pdf
https://etd.uum.edu.my/8434/2/s93772_02.pdf
https://etd.uum.edu.my/8434/3/s93772%20references.docx
https://etd.uum.edu.my/8434/
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spelling my.uum.etd.84342022-07-27T01:29:17Z https://etd.uum.edu.my/8434/ Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia Arunagiri, Shanmugam HF5549-5549.5 Personnel Management. Employment Retirement confidence among working adults has been highlighted as one of the major concerns of every nation in the world due to rapid growth of the aging population. As a developing nation, this issue has also impacted Malaysia. Therefore, this study is aimed to identify determinants of retirement confidence among Malaysian working adults, guided by the Theory of Planned Behaviour (TPB). The independent variables were demographic (gender, age, education, income) and the retirement planning factors were (expected retirement age, financial practices, financial literacy, attitudes towards retirement, goal clarity of retirement, financial socialisation, insurance planning). The mediator variable of this study is the intention to plan for retirement. The quantitative method with stratified random sampling technique was applied and data was collected through questionnaires from the government and private sector employees. The sample of this study consisted of 567 public and 542 private sector working adults from the northern region of Peninsular Malaysia. Using SPSS analysis, this study revealed significant differences in retirement confidence between gender based on living area (urban and rural), age cohort, education and monthly income among working adults from the government and private sectors. Goal clarity of retirement was found to be the prominent predictor of retirement confidence among working adults followed by financial literacy, attitude towards retirement and financial socialisation. On the mediation relationships, intention to plan for retirement was found to partially mediate the independent variables and retirement confidence. The findings of this study provides essential insights to policy- makers, employers, future retirees and young working adults in developing effective financial planning strategies such as designing retirement-based financial products and providing financial-based education programmes. This is aligned with the Malaysian National Financial Blueprint to promote financial capability as an essential skill in facing retirement life confidently. 2019 Thesis NonPeerReviewed text en https://etd.uum.edu.my/8434/1/s93772_01.pdf text en https://etd.uum.edu.my/8434/2/s93772_02.pdf text en https://etd.uum.edu.my/8434/3/s93772%20references.docx Arunagiri, Shanmugam (2019) Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia. Doctoral thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
English
topic HF5549-5549.5 Personnel Management. Employment
spellingShingle HF5549-5549.5 Personnel Management. Employment
Arunagiri, Shanmugam
Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
description Retirement confidence among working adults has been highlighted as one of the major concerns of every nation in the world due to rapid growth of the aging population. As a developing nation, this issue has also impacted Malaysia. Therefore, this study is aimed to identify determinants of retirement confidence among Malaysian working adults, guided by the Theory of Planned Behaviour (TPB). The independent variables were demographic (gender, age, education, income) and the retirement planning factors were (expected retirement age, financial practices, financial literacy, attitudes towards retirement, goal clarity of retirement, financial socialisation, insurance planning). The mediator variable of this study is the intention to plan for retirement. The quantitative method with stratified random sampling technique was applied and data was collected through questionnaires from the government and private sector employees. The sample of this study consisted of 567 public and 542 private sector working adults from the northern region of Peninsular Malaysia. Using SPSS analysis, this study revealed significant differences in retirement confidence between gender based on living area (urban and rural), age cohort, education and monthly income among working adults from the government and private sectors. Goal clarity of retirement was found to be the prominent predictor of retirement confidence among working adults followed by financial literacy, attitude towards retirement and financial socialisation. On the mediation relationships, intention to plan for retirement was found to partially mediate the independent variables and retirement confidence. The findings of this study provides essential insights to policy- makers, employers, future retirees and young working adults in developing effective financial planning strategies such as designing retirement-based financial products and providing financial-based education programmes. This is aligned with the Malaysian National Financial Blueprint to promote financial capability as an essential skill in facing retirement life confidently.
format Thesis
author Arunagiri, Shanmugam
author_facet Arunagiri, Shanmugam
author_sort Arunagiri, Shanmugam
title Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
title_short Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
title_full Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
title_fullStr Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
title_full_unstemmed Determinants of retirement confidence among working adults in Northern Region of Peninsular Malaysia
title_sort determinants of retirement confidence among working adults in northern region of peninsular malaysia
publishDate 2019
url https://etd.uum.edu.my/8434/1/s93772_01.pdf
https://etd.uum.edu.my/8434/2/s93772_02.pdf
https://etd.uum.edu.my/8434/3/s93772%20references.docx
https://etd.uum.edu.my/8434/
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score 13.211869

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