ESTABLISHING THE RELATIONSHIP BETWEEN RETIREMENT SAVING BEHAVIOR AND RETIREMENT CONFIDENCE AMONG SERVICE SECTOR EMPLOYEES IN PUNJAB

Financial planning for retirement plays crucial role in everyone's life as possession of financial buffer to support needs and expenses of self and family during postretirement period is emerging as a challenge for people. Present research is about determining the level of retirement confidence. The objective of the study is to figure out the association between retirement saving behavior and retirement confidence among service sector employees in Punjab. Respondents are accessed using stratified random sampling. Service Sector employees from four sub-sectors i.e. Education, Health, Banking and Insurance are considered for the purposes of the present study. Data is collected using structured questionnaire and analyzed in SPSS. Structural Equation Modeling (SEM) is the technique applied for analysis of data. Results of the study revealed significant relationship between retirement saving behavior and retirement confidence.