Determinants of retirement saving behavior among employees in Kota Cemerlang, Ayer Keroh, Melaka / Aimi Hanis Abd Halim and Mohamad Izzudin Ismail

This research conducted focusing on the factors that influence retirement savings behavior among employess in Kota Cemerlang, Ayer Keroh, Melaka. Retirement saving behavior is very important to ensure that all working Malaysian citizens have knowledge about retirement scheme. In Malaysia, there still many people not aware towards saving for their retirement. In support of the government endeavor, many initiatives had been developed to help the public to create savings for their retirement. For example, the 1Malaysia Retirement Savings Scheme had been launched by our Prime Minister, Datuk Seri Najib Tun Razak in Budget 2010, introduced as government initiative to ensure that the self-employed and have no regular income during their retirement savings. This scheme was effective from January 3, 2010.

In line with this, the main objectives of this study are (1) To identify the retirement saving behavior among employees in Kota Cemerlang, Ayer Keroh, (2) to examine the relationship between goal clarity, social interaction, self-control on retirement saving behaviors among employees in Kota Cemerlang, Ayer Keroh, Melaka and (3) to determine which contribute the most influence on saving behavior of employees towards goal clarity, social interaction and self-control in Kota Cemerlang, Ayer Keroh, Melaka.

The respondents of this study were the staffs that works in Kota Cemerlang, Ayer Keroh, Melaka that located in Aye r Ke roh, Melaka area. 110 questionnaires had been distributed among them. The researcher had used convenience sampling as a sampling technique. The process of analyzing and interpreting data is collected. The researcher also has come out with a few recommendations to be taken into consideration. By implementing these recommendations, it will help the public realize the importance to saving for their retirement.