Retirement planning behaviour of civil servants in Kuala Lumpur / Muhammad Syah Azim Rusli

Planning for retirement is one of the major issues among working individuals all over the world. The income that have been received from working are not only to be used to support individuals financially in the short term, but also for the sake of their survivability during the post-working days or in the retirement era. Some people may face financial difficulties after they had retired because of the high standard of living and improper financial planning during their working days. In general, there has been a concern that people cannot afford to live comfortably after they had retired (Jomo, 2017). Therefore, this study is to investigate the factors affecting the retirement planning behaviour among employees specifically on civil servants. This is based on a report (Aziz, Zahari, & Nordin, 2018) stated that civil servants in Malaysia has contributed to the largest proportion of debt consumption among any other employees. If more debt consumption being made, it means that less proportion available for savings. This study focuses on identifying civil servants' attitudes towards managing their money and other related factors to the retirement planning behaviour. The result in this study has shown attitude towards money is positively significant with the retirement planning behaviour. Apart from that, other factor such as potential conflicts in retirement and attitude towards retirement also has significant relationship with the retirement planning behaviour except for the goal clarity variable. A total of 117 civil servants aged 26 — 45 years old from various public agencies in Kuala Lumpur were selected as respondents of this study. Data collected were analysed with the use of Statistical Package for Social Science software (SPSS).