Determinations About Retirement for Young Workers Behavioural and Psychological Factors from Sabah's Rural and Urban Areas
List of Authors
Aidarina Jakaria, Syarifah Hanum Ali
Keyword
retirement planning, human behavior, psychological factors, rural and urban differences, theory of planned behavior
Abstract
This study investigates the behavioural and psychological factors influencing retirement decisions among young workers in rural and urban areas of Sabah, Malaysia. Retirement is a critical life transition shaped by individual perceptions, socioeconomic conditions, and environmental contexts. Despite its universal importance, retirement planning shows distinct differences between rural and urban populations. Rural workers often face limited access to financial services and lower financial literacy, while urban workers generally benefit from better access to financial education. Drawing on theories of ageing, such as continuity and disengagement theory, as well as the theory of planned behaviour (TPB), this research aims to understand the key factors that influence retirement intentions and savings behaviour in these different settings. The study identifies the primary drivers of retirement savings and evaluates how current policies affect young workers and impact retirement planning. The findings underscore the need for tailored policy interventions that address the unique needs of young workers in both rural and urban environments, ensuring their financial security and well-being.