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Financial planning for retirement is inevitable part of everyone’s life. Pension sector reforms upshot gradual shift from Defined Benefit to Defined Contribution schemes in both developing as well developed nations of the world. With this now individuals has to presume their responsibility to plan for their retirement. Financial planning for retirement has been always painstaking as an objective which can be always postponed over present needs. The main objective of the present research is to study the association between demographic factors and retirement saving behavior. Primary data is collected from Service Sector employees in Punjab using questionnaire. Simple random sampling is used to access the respondents. Data is analyzed with the help of SPSS. T-test and ANOVA are used to analyze the data. Results indicated no significant differences in terms of gender while reported significant differences in case of age, marital status, Education level and income level.
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Desh Bhagat University,
Off to NH-44, Amloh Road, Mandi Gobindgarh,
District Fatehgarh Sahib, Punjab- 147301, India