CHAPTER 4 DATA ANALYSIS
4.1 Descriptive Analysis
4.1.2 Central Tendencies Measurement of Constructs
4. Did you make calculation to estimate amount that require for
retirement life during Covid-19 Pandemic?
3.81 3 1.831 3
5. Did you visit any website, articles or brochures regarding to
retirement planning during Covid-19 pandemic?
3.39 4 1.964 2
Note: Developed for this research
Exhibit Table 4.1 is functioned to describes the M and SD of dependent variable (retirement planning). The highest M of the value is 3.99 which related to the statement of “Did you apply withdrawal of EPF (Eg: i-Lestari and i-Citra) for consumption without investing during Covid-19 pandemic”.
Besides, the smallest M is 3.17 concern to the item “Do you think the current savings in EPF account is sufficient for retirement life”.
On the contrary, for SD of retirement planning, the greatest SD value is 1.995 relates to the statement “Do you think the current savings in EPF account is sufficient for retirement life”. Besides, the least standard deviation value is 1.744 relates to the statement of “Did you apply withdrawal of EPF (Eg: i-Lestari and i-Citra) for consumption without investing during Covid-19 pandemic”.
4.1.2.2 Income
Table 4.2 Central Tendencies Measurement of Income
Item M Ranking
of M
SD Ranking of SD
As consider the effect of Covid-19:
1. My income most likely affected during the pandemic.
3.70 5 1.166 2
2. My decision to invest for retirement depends on my
income.
3.88 2 1.119 4
3. Income shrunk can affect my retirement planning.
3.86 3 1.110 5
4. With stable income, I can do better retirement planning.
4.00 1 1.154 3
5. I allocate more portion of my salary to pension fund when I
could earn more.
3.72 4 1.281 1
Note: Developed for this research
Exhibit Table 4.2 is functioned to describe the M and SD of independent variable (income). Refer to Table 4.2, the greatest M value is contributed by item “With stable income, I can do better retirement planning” with the value of 4.00 obtained from overall repondents. Furthermore, lowest M value found from item “My income most likely affected during the pandemic” with the figure 3.70.
Moreover, the item “I allocate more portion of my salary to pension fund when I could earn more” performed greatest SD value recorded at 1.281.
However, 1.110 as SD value for item “Income shrunk can affect my retirement planning” ranked at lowest.
4.1.2.3 Financial Literacy
Table 4.3 Central Tendencies Measurement of Financial Literacy
Item M Ranking
of M
SD Ranking of SD
As consider the effect of Covid-19:
1. I acknowledge all alternative sources for my retirement income, for example investments
and public pension fund.
3.81 5 1.227 1
2. I can clearly distinguish difference of retirement fund and
other fund (Eg: Insurance, medical fund, children education
fund).
3.86 4 1.112 4
3. I understand clearly impact of inflation towards my value of
retirement savings.
3.88 2 1.171 2
4. I understand benefits of interest in my retirement savings account.
3.87 3 1.154 3
5. I am aware of my right to claim retirement benefits offered by my
company.
3.90 1 1.100 5
Note: Developed for this research
Exhibit Table 4.3 is functioned to describe M and SD of independent variable (financial literacy). Table 4.3 reveal that the item “I am aware of my right to claim retirement benefits offered by my company” with the highest M (3.90) and the item “I acknowledge all alternative sources for my
retirement income, for example investments and public pension fund” with the lowest M (3.81).
In contrast, item “I acknowledge all alternative sources for my retirement income, for example investments and public pension fund” recorded greatest SD (1.227). At the same time, lowest SD (1.100) appeared in item
“I am aware of my right to claim retirement benefits offered by my company”.
4.1.2.4 Savings Behaviour
Table 4.4 Central Tendencies Measurement of Savings Behaviour
Item M Ranking
of M
SD Ranking of SD
As consider the effect of Covid-19:
1. I save money to achieve financial independency.
4.01 2 1.141 5
2. I know it is always important to save for emergency, like happening outbreak of Covid-19.
4.09 1 1.181 4
3. I contribute monthly savings in bank account.
3.97 3 1.229 2
4. I frequently keep tracking on my spending.
3.80 5 1.208 3
5. I save as much as possible instead spend all my money
immediately.
3.85 4 1.300 1
Note: Developed for this research
Exhibit Table 4.4 is functioned to describe M and SD of independent variable (savings behaviour). The result stated in table 4.4, 4.09 recorded for item of “I know it is always important to save emergency, like happening outbreak of Covid-19” represent the highest rank. On the other hand, the statement “I frequently keep tracking on my spending” with the smallest value of the mean is 3.80.
Moreover, the SD (1.300) ranked the highest represent to the item of “I save as much as possible instead spend all my money immediately”. Besides, lowest ranked of item with SD (1.141) presented at the item “I save money to achieve financial independency”.
4.1.2.5 Goal Clarity
Table 4.5 Central Tendencies Measurement of Goal Clarity
Item M Ranking
of M
SD Ranking of SD As consider the effect of Covid-19:
1. I establish specific goals for how much I will need to save
for my retirement.
3.91 1 1.105 4
2. I have change of thinking about quality of life I want to
lead after retirement.
3.87 2 1.061 5
3. I have a clear vision of how my life shall be after
retirement.
3.78 4 1.203 2
4. My financial goal is to prepare if I lose my job.
3.70 5 1.221 1
5. My financial goal is to settle debt faster.
3.79 3 1.136 3
Note: Developed for this research
Exhibit Table 4.5 is functioned to describe the M and SD of independent variable (goal clarity). According to the result in table 4.5, the item of “I establish specific goals for how much I will need to save for my retirement”
reaches the greatest value of mean score which is 3.91. However, the item of “My financial goal is to prepare if I lose my job” reaches the least value of M (3.70).
In addition, the highest ranked of SD (1.221) appeared in the item of “My financial goal is to prepare if I lose my job”. Furthermore, the item of “I have change of thinking about quality of life I want to lead after retirement”
reaches the smallest SD (1.061).
4.1.2.6 Summary of Central Tendencies Measurement
Table 4.6 Summary of Central Tendencies Measurement
Variable M SD
DV Retirement Planning 3.6524 1.26030
IV Income 3.8331 1.05831
Financial Literacy 3.8646 1.07371
Savings Behaviour 3.9405 1.13435
Goal Clarity 3.8102 1.04476
Note: Developed for this research
Exhibit Table 4.6 above is functioned to indicate that the M and SD of DV and IV. Savings behaviour with M of 3.9405, ranked highest among the others. Retirement planning has smallest M which is 3.6524. Moreover, retirement planning is the highest SD value of 1.26030 and goal clarity is the smallest SD value of 1.04476.