A Study on the Retirement Planning Behaviour of Working Individuals in Malaysia

This cross-sectional study is an explanatory research intended to establish the relationship between the retirement planning behavior and the various factors affecting the retirement planning behavior. A total of 300 working individuals in the age group of 26 to 55 years had participated in this study. The objectives of this study are to examine the retirement planning behavior of working individuals. This study contributes a clear view through the symbolic interaction theory and several past relevant empirical studies. The results identified several significant variables in the prediction of working individuals' retirement planning behavior, including age, education level and income level. The findings of this research support the research model in which potential conflict in retirement planning, attitude toward retirement and retirement goal clarity are the significant predictors of retirement planning behavior. The results of this study have implications for working individuals to do early planning for retirement to enable them to have a strong financial base after retirement