FINANCIAL RETIREMENT PLANNING IN MALAYSIA: A CONCEPTUAL MODEL

Abstract

Malaysian is expected to be ageing country by 2050 which is a cause to concern as Malaysian generally do not save for future retirement. Many elderly facing dilemma of not having sufficient money to maintain a comfortable retirement and this problem become worst over time. This literature study is undertaken in order to identify the contributing factors. Applying Theory of Planned Behavior (TPB) and supported by previous studies, this concept paper is proposing Social Influence and Financial Attitude as predictive factors on Malaysian working adult to plan for their financial retirement needs. This finding can be benefitted by relevant agencies and bodies who can manipulate these factors to encourage financial retirement planning can be done as early as possible