FACTORS INFLUENCING RETIREMENT FINANCIAL PLANNING AMONG EMPLOYEES AT THE GOVERNMENT SAVINGS BANK HEAD OFFICE

Abstract

Financial planning for retirement affects future quality of life. This research studies the factors affecting retirement planning of 369 employees of the Government Savings Bank Head Office. It was found that personal factors, the majority of the sample were female, aged 25-30 years, married, had a bachelor's degree (68.6 percent), had an income of 20,001-40,000 baht, and 49.6 percent had no debt. Most of them received a provident fund (90.8 percent) as their main source of retirement. Economic and social factors influenced planning, with economic status and information access having the highest mean values (4.23 and 4.02), while family factors had a moderate influence. Retirement planning behavior focused on monitoring and evaluating savings and investment results (mean value of 4.38), selecting an investment plan in a provident fund, especially a plan that adjusts risks according to age, and goal setting and savings had mean values of 4.24 and 4.03. The results of the study emphasized the importance of financial planning for retirement, which depends on personal, economic, and behavioral factors. It also indicated that receiving information and participating in related activities increased readiness for an effective retirement.