Intention Model Analysis of Bogor Society against Pension Fund in Retirement Planning
Putri Putu Pratami1*, Budi Suharjo1, Endar Hasafah Nugrahani1
Citation : Putri Putu Pratami, Budi Suharjo, Endar Hasafah Nugrahani, Intention Model Analysis of Bogor Society against Pension Fund in Retirement Planning International Journal of Managerial Studies and Research 2018 , 6(9) : 15-30
Indonesia has a high workforce. Central Bureau of Statistics Indonesia released the workforce as of February 2016 which is 120,647,697 people from the total workforce of 127.671869 people, which means the Indonesian workforce reached 94.50 %. However, only 6.16% of Indonesia's workforce has not had a retirement plan. The purpose of this research is to identify the factors that influence the intention of Bogor society towards the retirement planning and to build the model of causality of retirement planning of Bogor City with Theory of Planned Behavior. Sampling technique used is simple random sampling, cluster sampling, and systematic sampling then processed with structural equation model (SEM). The result of this research is only 26% of respondents have pension fund. The indicator variables BB2, SN3, SN4, SN5, MTC2, and MTC3 are not able to validate each of the latent variables. The reliability result shows that SN, MTC, and ITU variables cannot be said to be reliable. Hypothesis test of latent variables shows that only the subjective norms have a significant effect on the intention of retirement planning.