Government officers: Do they have a better retirement planning?

บทคัดย่อ

This study examined the retirement planning of Indonesian civil servants (hereafter referred to as Aparatur Sipil Negara, ASN). The behavior of ASNs in preparing financial needs after retiring from government office was investigated in this study. The study found that financial literature plays an important role in ASN’s financial planning. The study also revealed that ASNs who have better financial literature tend to do better in their financial management by having cash and pension budgets. The study finally showed that there is a positive relationship between ASNs’ salary and their behavior to have non-Taspen (non ASN compulsory retirement saving) income. These ASNs are more likely to have a pension plan compared to those with a low salary. ASNs with a higher number of children are more likely to have a better cash budget.