Retirement financial planning for government officer and private employees in Pathum Thani

Abstract

The purpose of this independent study was to study demographic factors and factors in investment and saving behavior that affect the retirement financial planning for government officers and private employees in Pathum Thani Province. The sample of the study consisted of 400 participants who aged 23-50 years. Questionnaires were used to collect the data. The statistics used for data analysis were mean, percentage, and standard deviation in which hypothesis testing was analyzed by Independent Sample t-test and One-way ANOVA with statistical significance at the level of 0.05. The results of the study showed that most participants were female with a bachelor’s degree, and their average monthly income ranged from 20,001 to 40,000 baht in which the frequency of saving and investment per year was over four times and the investment and saving duration was 6-10 years. The results of the hypothesis testing revealed that in the group of government officers, demographic factors including education levels, average monthly income and average monthly expenses affected financial planning for retirement preparation. The factors in investment and saving behavior including returns on saving and investment, the frequency of saving and investment, amounts of saving and investment, trends of saving and investment in the future, and information sources of saving and investment had effects on retirement financial planning. For private employees, demographic factors including education levels affected financial planning for retirement preparation. The factors in saving and investment behavior including returns on saving and investment, the frequency of saving and investment, and trends of saving and investment in the future had effects on retirement financial planning.