A study on the retirement planning behaviour of working individuals in Raub, Pahang / Nur Nadhirah Hazlimi

Retirement is defined as an act of ending one's working career or the period after they permanently quit a job or profession. In reality, the number of pre-retirees will increase. Malaysian has less confidence in retirement planning because of financial illiteracy. Only 40% of Malaysians are ready for retirement. The person that want to life comfortable after the retirement need make a retirement planning. The issues are getting from Bank Negara Malaysia website. It arises when there is insufficient fund funding the expenses of retirement person. Only 40% of Malaysian is financially ready for retirement said by deputy governor of Bank Negara. Next issue is because of the age issue. The government had risen the retirement age from 55 to 60 in 2013. Next issue is most Malaysian need to save more to cater for the increasing cost of living, especially medical costs. The minimum wage provision stated by the government was RM 1,050. This research was conducted in Raub, Pahang and the questionnaires distributed was 383 set