FACTORS INFLUENCING PERSONAL RETIREMENT SAVING BEHAVIOR OF TEACHERS IN NONGKHAI PROVINCE, THAILAND

Abstract

This research aimed to study the influence of personal factors (gender, age, education, marital status and salary) and retirement attitude on saving attitude (the cognitive component, the affective component and the behavioral component). Moreover, the research examined the impact of retirement attitude and saving attitude on personal retirement saving behavior (pull factors, push factors and able factors). The 5-point Likert scale questionnaires were used. The conceptual model was empirically tested by using data collected from a sample of 400 teachers who lived in Nongkhai Province. Data were analyzed by descriptive statistics and Multiple Regression Analysis was used for hypotheses testing. The research results found that personal factors (gender, age, education, marital status and salary) and retirement attitude had statistically significant impacted on saving attitude in all 3 dimensions (the cognitive component, the affective component and the behavioral component). Next, it revealed that retirement attitude impacted on personal retirement saving behavior just only 2 dimensions (push factors and able factors). In addition, it showed that first dimension of saving attitude, the cognitive component, influenced on personal retirement saving behavior in all 3 dimensions. The second dimension of saving attitude, the affective component, influenced on personal retirement saving behavior just only 1 dimensions (able factors). Lastly, the behavioral component influenced on only 2 dimensions of personal retirement saving behavior (pull factors and able factors). The findings of this research can be used to apply for planning and improving of teacher’s individual retirement plan saving behavior. Directions for future research were also suggested.