The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria

Recent development in behavioral studies coupled with an increase in life expectancy, ageing population and a shift of retirement responsibilities onto the workers by many governments necessitate the urgent need for this study. In accordance with the theory of planned behavior (TPB), the study inves...

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Main Author:	Sani, Dauda
Format:	Thesis
Language:	eng eng eng
Published:	2019
Subjects:	HF5549-5549.5 Personnel Management Employment
Online Access:	https://etd.uum.edu.my/8636/1/s900158_01.pdf https://etd.uum.edu.my/8636/2/s900158_02.pdf https://etd.uum.edu.my/8636/3/s900158_references.docx
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id	my-uum-etd.8636
record_format	uketd_dc
spelling	my-uum-etd.86362022-10-04T01:38:22Z The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria 2019 Sani, Dauda Tolos, Habibah Ibrahim, Yusnidah School of Economics, Finance & Banking School of Economics, Finance & Banking HF5549-5549.5 Personnel Management. Employment Recent development in behavioral studies coupled with an increase in life expectancy, ageing population and a shift of retirement responsibilities onto the workers by many governments necessitate the urgent need for this study. In accordance with the theory of planned behavior (TPB), the study investigates the determinants of retirement planning behavior (RPB) between the private and public sectors workers in Nigeria. A structured questionnaire was used to enable data collection from a sample of 307 Nigerian workers selected across the six geopolitical zones. PLS-SEM and Wilcoxon signed-rank test were employed to examine the determinants and differences of RPB among the workers. Empirical evidences support six of the tested hypotheses that suggested that attitude and norms have a significant positive impact on RPB of the workers. Personality has a significant positive impact on attitude and control while knowledge impacted positively on attitude and norms. In contrast, three of the tested hypotheses are not supported. They are control to RPB, personality to norms and knowledge to control. The results of the Wilcoxon signed-rank test support six hypotheses suggesting significant differences between the workers in the two sectors. These are attitude and control to RPB, personality to attitude and control, and knowledge to attitude and norms. However, three hypotheses are not supported signifying no differences between the workers in the different sectors. They are norms to RPB, personality to norms, and knowledge to control. Theoretically, the study shows the usefulness of extended TPB by providing a more robust correlation between the variables leading to the prediction of RPB. Practically, the study highlights the use of TPB variables in influencing individual decision and could serve as a guide to pension managers in understanding the programs needed to motivate RPB. Finally, the study recommends for the design of intervention plans that are capable of encouraging RPB among the workers. 2019 Thesis https://etd.uum.edu.my/8636/ https://etd.uum.edu.my/8636/1/s900158_01.pdf text eng public https://etd.uum.edu.my/8636/2/s900158_02.pdf text eng public https://etd.uum.edu.my/8636/3/s900158_references.docx text eng public other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Tolos, Habibah Ibrahim, Yusnidah
topic	HF5549-5549.5 Personnel Management Employment
spellingShingle	HF5549-5549.5 Personnel Management Employment Sani, Dauda The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
description	Recent development in behavioral studies coupled with an increase in life expectancy, ageing population and a shift of retirement responsibilities onto the workers by many governments necessitate the urgent need for this study. In accordance with the theory of planned behavior (TPB), the study investigates the determinants of retirement planning behavior (RPB) between the private and public sectors workers in Nigeria. A structured questionnaire was used to enable data collection from a sample of 307 Nigerian workers selected across the six geopolitical zones. PLS-SEM and Wilcoxon signed-rank test were employed to examine the determinants and differences of RPB among the workers. Empirical evidences support six of the tested hypotheses that suggested that attitude and norms have a significant positive impact on RPB of the workers. Personality has a significant positive impact on attitude and control while knowledge impacted positively on attitude and norms. In contrast, three of the tested hypotheses are not supported. They are control to RPB, personality to norms and knowledge to control. The results of the Wilcoxon signed-rank test support six hypotheses suggesting significant differences between the workers in the two sectors. These are attitude and control to RPB, personality to attitude and control, and knowledge to attitude and norms. However, three hypotheses are not supported signifying no differences between the workers in the different sectors. They are norms to RPB, personality to norms, and knowledge to control. Theoretically, the study shows the usefulness of extended TPB by providing a more robust correlation between the variables leading to the prediction of RPB. Practically, the study highlights the use of TPB variables in influencing individual decision and could serve as a guide to pension managers in understanding the programs needed to motivate RPB. Finally, the study recommends for the design of intervention plans that are capable of encouraging RPB among the workers.
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Sani, Dauda
author_facet	Sani, Dauda
author_sort	Sani, Dauda
title	The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
title_short	The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
title_full	The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
title_fullStr	The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
title_full_unstemmed	The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria
title_sort	determinants of retirement planning behavior: a comparative study of public and private sector workers in nigeria
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2019
url	https://etd.uum.edu.my/8636/1/s900158_01.pdf https://etd.uum.edu.my/8636/2/s900158_02.pdf https://etd.uum.edu.my/8636/3/s900158_references.docx
_version_	1747828427934662656

The determinants of retirement planning behavior: a comparative study of public and private sector workers in Nigeria

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