Understanding Factors Influencing Voluntary Contribution of ‘I-Saraan’ among Malaysian: A Conceptual Model

Abstract

I-Saraan is the government retirement scheme to help Malaysian citizens to have comfortable retirement times. Evidence pertinent to Malaysian participation is marginal and inconclusive. Therefore, this work proposes a conceptual framework to understand the factors that influence the voluntary contribution of I-Saraan among Malaysian citizens. The main motivation of this study is to increase self-contribution of retirement savings among selfemployed. From the synthesis review of literature, the study identified four elements that influencing the voluntary contribution of I-Saraan, attitude, subjective norm, perceived behavioral control, and amount of information. The study contributes to our understanding of the factors that influence voluntary retirement savings behavior among self-employed toward the government retirement scheme. This work is based on a conceptual model, which yet received an empirical result at best. Generally, this work provides fresh knowledge concerning a conceptual model proposed to reflect I-Saraan in the context of Malaysia.