Retirement Planning Behaviour of Young Malaysian Employees with Savings Intention as Mediator
Keywords:
spending style, financial literacy awareness, retirement planning behaviour, savings intentionAbstract
Malaysian youth struggle to prepare for retirement owing to financial issues. This study examines retirement planning behaviour, spending style, financial literacy awareness, and the mediator of savings intention, and is needed because only 18% of EPF retirees saved for six months. Purposive and quota sampling were employed for 335 respondents among 25–34-year-old Klang Valley food and beverage workers. Data were analysed using SPSS 29 and PLS-SEM. A significant relationship exists between FLA and RPB (β=0.065, p<0.05), but not SS (β=0.072, p>0.05). SI did not mediate the relationship between SS and RPB (β=0.001, p>0.05) or FLA and RPB (β=0.002, p>0.05).
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