Peran locus of control pada pengujian model perencanaan dana pensiun karyawan sektor swasta di Surabaya

Abstract

This study investigates the factors affecting retirement planning by examining the
relationship between ï¬nancial literacy, locus of control, materialism, future orientation,
and saving orientation. It used a questionnaire on 128 private sector employees in
Surabaya and the data were analyzed using PLS. It was found that locus of control, future orientation, and saving orientation have an effect on retirement planning. Another one shows ï¬nancial literacy has an insigniï¬cant positive effect on retirement planning and external locus of control mediating the effect of ï¬nancial literacy on pension planning
behavior. Materialism has no effect on retirement planning. Future orientation has a positive effect on retirement planning and saving orientation is able to mediate the effect of future orientation on retirement planning. It can be implied that—if an individual has a better future orientation and saving orientation—the better the retirement plan he has;
an individual who has high ï¬nancial literacy must be accompanied by good self-control
in order to be able to plan his retirement wisely. It can be used for a useful reference for organizations to develop retirement planning in the context of a developed city such as Surabaya.