Factors Affecting Retirement Saving Behaviours of Working Age Population in Bangkok

Abstract

This research article aims to (1) study awareness of retirement planning among working-age people in Bangkok; and (2) study factors affecting savings behavior for retirement among working-age people in Bangkok, and (3) study and compare factors affecting savings behavior for retirement among working age people in Bangkok. Between the two sample groups: the formal employment groups and Informal employment groups, to know the differences in factors affecting retirement savings behavior of the two groups. This research is social science research, combining quantitative and descriptive research. This is because it uses mathematical data and statistical tools to help collect data and summarize into opinions. Tools used to collect data: questionnaires. Statistics used to analyze data: Descriptive Statistics, Quantitative Statistics and used Path Analysis. The results of study found that the working age population in Bangkok has a high level of awareness. Factors affecting savings behavior for retirement purposes of working age people in Bangkok: Age, education level, occupation and Financial Literacy. Factors affecting savings behavior for retirement purposes of formal employment groups: Education level, status, occupation and Financial Literacy, while factors affecting savings behavior for retirement purposes of informal employment groups, Age, education level, status, occupation and Financial Literacy.