Publication:
A study of voluntary retirement savings behaviour among muslim employees in Klang valley

dc.contributor.affiliation#PLACEHOLDER_PARENT_METADATA_VALUE#en_US
dc.contributor.authorGazali, Haneffa Muchlisen_US
dc.date.accessioned2024-10-08T05:15:51Z
dc.date.available2024-10-08T05:15:51Z
dc.date.issued2018
dc.description.abstractThe unprecedented increase in life expectancy, along with the demographic changes over the last couple of decades, will intensify the need for adequate saving post-retirement. Prior economic literature did not propose an explanation for the declining saving for post-retirement. This study seeks to obtain the attributes influencing voluntary retirement savings behaviour by explaining notions of retirement saving awareness, financial literacy, personal financial planning, consumer religiosity, the life-cycle theory of saving and theory of planned behaviour (TPB). This cross-sectional study collects and analyses self-administered questionnaire survey data from 638 Muslim employees in Malaysia using Partial Least Square (PLS) technique. The present study suggests that retirement saving awareness, personal financial planning, income life-cycle, subjective norm, perceived behavioural control and behavioural intention influence individuals’ voluntary retirement savings behaviour. However, financial literacy, consumer religiosity, age varying contribution and attitude do not significantly influence voluntary retirement savings behaviour. Drawing upon the extended model of the life-cycle theory of saving and theory of planned behaviour, this study partially supports that the life-cycle theory of savings predicts one’s participation in voluntary retirement savings. Though attitude is an integral component of human behaviour it does not correlate with the behavioural response on economic consequences of voluntary retirement savings behaviour. The emerging factors from this study would provide an ample evidence to the government, policy makers, fund managers and financial planner in understanding consumer preference and behaviour on voluntary retirement savings behaviour. This is important for the aforementioned parties to work on policies and marketing strategies that can encourage more people to save for their retirement. Voluntary retirement saving is an emerging phenomenon in the developing countries like Malaysia. This study provides detail analysis to gain deeper insight into factors explaining particular attributes of voluntary retirement savings behaviour. This study contributes to the existing literature and provides a fresh empirical perspective on voluntary retirement savings behaviour from the Malaysian context. The findings of this study serve the guidelines to enhance the performance of financial planner and industry in promoting voluntary retirement savings in an emerging economy and developing country like Malaysia.en_US
dc.description.callnumbert BPH 282 S27 H36 2018en_US
dc.description.degreelevelDoctoralen_US
dc.description.identifierThesis : A study of voluntary retirement savings behaviour among muslim employees in Klang valley /by Haneffa Muchlis Gazalien_US
dc.description.identityt11100401722HaneffaMuchlisGazalien_US
dc.description.kulliyahIIUM Institute of Islamic Banking and Financeen_US
dc.description.notesThesis (Ph.D)--International Islamic University Malaysia, 2018.en_US
dc.description.physicaldescriptionxiv, 222 leaves :illustrations ;30cm.en_US
dc.description.programmeDoctor of Philosophy in Islamic Banking and Finance.en_US
dc.identifier.urihttps://studentrepo.iium.edu.my/handle/123456789/8159
dc.identifier.urlhttps://lib.iium.edu.my/mom/services/mom/document/getFile/mK1IemvHdiEdG81XrzvfbAHv6tRg26ML20190723114724496
dc.language.isoenen_US
dc.publisherKuala Lumpur :International Islamic University Malaysia,2018en_US
dc.rightsCopyright International Islamic University Malaysia
dc.subject.lcshSaving and thrift -- Religious aspects -- Saving and thrift -- MalaysiaIslamen_US
dc.titleA study of voluntary retirement savings behaviour among muslim employees in Klang valleyen_US
dc.typeDoctoral Thesisen_US
dspace.entity.typePublication

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