Moderating Effect of Gender, Income and Age towards an Islamic Health Protection Retirement Plan (i-HPRP)

Abstract

This study examines the moderating effect of demographic variables like gender, income, and age on the proposed Islamic Health Protection Retirement Plan Model (i-HPRP). The study adopts a quantitative method by surveying 498 respondents located in different states in Malaysia. Structural Equation Modelling (SEM) is adopted in this study to measure the moderating effect of demographic variables. The analysis results showed that saving behavior has significantly influenced the plan's preferences while the spending behavior did not. Besides, demographic variables play a role as a moderator in the relationship between saving and the retirement plan. Overall, this research findings reveal that gender, age, and income level were important in determining individual saving behavior and preparation for retirement. An effort to increase awareness of retirement preparation should be enforced on various age groups among citizens to reduce the problem of insufficient funds among retirees.

Investigation of Student-Teachers Readiness and Attitude Towards Utilization of ICT in Studying Business Education in Delta State, Nigeria

“…The study employed the descriptive survey research design (Chowdhury et al, 2022). In employing this design, the researcher conducted a field investigation using a research instrument (that is, questionnaire) in order to gather information from a group of a sample of a large population of NCE student-teachers in Delta State.…”

Viability of Islamic Health Protection Retirement Plan (i-HPRP) Among Malaysian Public and Private Employees

“…The plan was designed according to an exchange mechanism whereby contributors make a regular contribution during their working life through a commitment to donation (iltizām bi al-tabarruʿ) (Johari et al, 2014). Figures 1 and 2 exhibit the mechanism of the proposed plan formulated by Chowdhury et al (2022). Figure 1 depicts the expected period of working and retirement for a normal individual in general.…”

“…Individuals generally spend more on unnecessary things that lead them to regret later because they have savings too small for retirement (Lusardi, 1999;Sotiropoulos & d'Astous, 2013). Savings behaviour is developed through a repetitive routine that represents the well-being of individuals (Shim et al, 2012;Chowdhury et al, 2022). It influences individuals to set future objectives, especially with regard to financial needs such as retirement products and insurance coverage (Cude et al, 2006;Croy et al, 2010).…”