Knowledge on retirement related financial planning among employees
This study was carried out to assess the knowledge on retirement financial planning among IIUM employees. Among factors that were taken into consideration in assessing this are exposure provided by employers either formal or informal on financial planning, personal opinion on best time to...
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Format: | Article |
Language: | English |
Published: |
IIUM Press, International Islamic University Malaysia
2018
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Online Access: | http://irep.iium.edu.my/65008/1/65008_Knowledge%20on%20Retirement%20Related.pdf http://irep.iium.edu.my/65008/ http://journals.iium.edu.my/revival/index.php/revival/article/view/219/189 |
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Summary: | This study was carried out to assess the knowledge on retirement financial planning among IIUM employees. Among factors that were taken into consideration in assessing this are exposure provided by employers either formal or informal on financial planning, personal opinion on best time to start on financial planning for retirement, setting financial goal and type of investment for retirement and assessing respondent opinion on the adequate amount of savings for retirement life. In creating a more meaningful analysis to this study, demographic factors are used to link to the knowledge on retirement related planning. The methodology used in this study was quantitative, involving distribution of questionnaire to respondents to collect primary data. With respect to the knowledge on retirement planning, it was found that 58% of the respondents said that they do not get any formal exposure on financial retirement planning while the remaining claimed getting it on an informal basis. In setting financial goal for financial retirement planning, more than 50% of the respondents felt that the best time to start financial planning for retirement is from between the age of 25-35 years old. Majority of the respondents claimed to have a financial goal when they retire and in achieving it they prefer to invest in unit trusts. The findings also prove that demographic factors such as age, educationand income level play an important role in financial retirement planning. It is also recommended that employers and the government should take more initiatives in providing training to enhance the knowledge and awareness of financial retirement planning among employees.
Kajian ini dijalankan untuk menilai pengetahuan mengenai perancangan kewangan persaraan di kalangan pekerja IIUM. Antara faktor yang diambil kira dalam penilaian ini adalah pendedahan yang diberikan oleh majikansama ada secara formal atau tidak formal mengenai perancangan kewangan, pendapat peribadi pada masa terbaik untuk memulakan perancangan kewangan bagi persaraan, penetapan matlamat kewangan dan jenis pelaburan bagi persaraan dan menilai pendapat responden mengenai jumlah simpanan yang mencukupi bagi kehidupan persaraan. Dalam mencipta analisis yang lebih bermakna untuk kajian ini, faktor demografi digunakan untuk menghubungkait kepada pengetahuan mengenai perancangan berkaitan persaraan. Metodologi yang digunakan dalam kajian ini adalah kuantitatif, yang melibatkan pengagihan soal selidik kepada responden untuk mengumpulkan data asas. Berkaitan dengan pengetahuan mengenai perancangan persaraan, didapati bahawa 58% daripada responden mengatakan bahawa mereka tidak mendapat pendedahan rasmi mengenai perancangan persaraan kewangan manakala yang selebihnya mengetahui mendapatkannya secara tidak rasmi. Dalam menetapkan matlamat kewangan untuk perancangan persaraan kewangan, lebih daripada 50% responden merasakan bahawa masa terbaik untuk memulakan perancangan kewangan untuk persaraan adalah dari antara umur 25 -35 tahun. Majoriti responden mendakwa mempunyai matlamat kewangan apabila mereka bersara dan bagi mencapainya mereka lebih memilih untuk melabur dalam unitamanah. Penemuan ini juga membuktikan bahawa faktor demografi seperti umur, pendidikan dan tahap pendapatan memainkan peranan penting dalam perancangan persaraan kewangan. Adalah disyorkan bahawa majikan dan kerajaan perlu mengambil lebih banyak inisiatifdalam menyediakan latihan bagi meningkatkan pengetahuan dan kesedaran perancangan persaraan kewangan di kalangan pekerja. |
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