Saving behaviour towards retirement planning among workers in rural area / Nur Haziqah Aini Rosli

Retirement has been one of the most concerning issues around the world. In Malaysia, many workers are very worried about their expenses in old age. The issue about this study is in spite of the worries, Malaysians still embrace a passive strategy for their retirement planning, depending mainly on the legislature or statutory bodies, for example, Employees Provident Fund (EPF) to finance their retirement needs. The objective of this research is to analyze the influencing factors of the retirement planning practices, and the choice of investment retirement scheme in the context of retirement planning . Total 100 employees were involved in this study and the data were collected by using questionnaire as the method to collect all the data from sample respondents in accomplishing the research objectives. Through the findings, we can see that workers in rural areas have positive attitude and behaviour towards retirement especially when they are reaching 40 years old. Although they do not have another additional retirement scheme and only have EPF or pension to aid they retirement years, they made their saving through having additional asset such as land lot and rental houses. In future studies, it is recommended to include financial literacy that links actual financial knowledge which contributes in financial preparation for retirement