Retirement Planning Behaviour of Young Malaysian Employees with Savings Intention as Mediator

Nur Fadhilah Hani Husain; Herwina Rosnan; Kenita Putri; Suriana Ramli

doi:10.21834/e-bpj.v11i35.7582

Authors

Nur Fadhilah Hani Husain Arshad Ayub Graduate Business School, Universiti Teknologi MARA (UiTM) Shah Alam
Herwina Rosnan Arshad Ayub Graduate Business School, Universiti Teknologi MARA (UiTM) Shah Alam
Kenita Putri Paramadina University (West Java, Indonesia)
Suriana Ramli Arshad Ayub Graduate Business School, Universiti Teknologi MARA (UiTM) Shah Alam

DOI:

https://doi.org/10.21834/e-bpj.v11i35.7582

Keywords:

Retirement Planning Behaviour, Spending Style, Financial Literacy Awareness, Savings Intention

Abstract

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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