Level of awareness towards retirement planning: case study on Amanah Raya Berhad Kuala Lumpur / Mohamad Zul Asyraf Abd Muthalib

The Employees Provident Fund (EPF) and pension scheme are the largest provident fund scheme available in Malaysia but currently there are not sufficient in funding the retiree. The main purpose of this exploratory study is to identify the level of awareness of towards retirement planning among Amanah Raya Berhad staff and investigating if any factors (knowledge, marketability, and social) influencing the awareness towards retirement planning among Amanah Raya Berhad staff. This study applies quantitative approach with the use of survey questionnaires as the main instrument of data collection. A total of 100 respondents were selected for the purpose of this study. Data collected was analysed using descriptive analysis, Pearson Correlation Coefficient, and ANOVA. In general, findings of this study show that relatively, the level of awareness towards retirement planning is still low. In addition, only 40% of those that aware about his scheme. Various factors influencing awareness were found to have an influence on retirement planning among Amanah Raya Berhad staff. Overall, this study gives some information on the awareness towards retirement planning among Amanah Raya Berhad staff and factors influencing awareness on retirement planning among Amanah Raya Berhad staff.

Keywords: Amanah Raya Berhad, Employees Provident Fund, pension scheme,retirement planning, awareness.