Moderating effect of gender, income and age towards an Islamic health protection retirement plan (i-HPRP)

• Main Authors: Chowdhury, Mohammad Abdul Matin, Che Embi, Nor Azizan, Megat Laksana, Nan Noorhidayu, Salleh, Marhanum Che, Razali, Siti Salwani
• Format: Article
• Language: English
• Published: E-PALLI 2022
• Subjects: HG Finance; HG8719 Islamic Insurance Takaful
• Online Access: http://irep.iium.edu.my/98090/7/98090_Moderating%20effect%20of%20gender%2C%20income%20and%20age.pdf; http://irep.iium.edu.my/98090/; https://journals.e-palli.com/home/index.php/ajebi/article/view/157/126

This study examines the moderating effect of demographic variables like gender, income, and age on the proposed Islamic Health Protection Retirement Plan Model (i-HPRP). The study adopts a quantitative method by surveying 498 respondents located in different states in Malaysia. Structural Equation Modelling (SEM) is adopted in this study to measure the moderating effect of demographic variables. The analysis results showed that saving behavior has significantly influenced the plan’s preferences while the spending behavior did not. Besides, demographic variables play a role as a moderator in the relationship between saving and the retirement plan. Overall, this research findings reveal that gender, age, and income level were important in determining individual saving behavior and preparation for retirement. An effort to increase awareness of retirement preparation should be enforced on various age groups among citizens to reduce the problem of insufficient funds among retirees.