ORGANIZATIONAL FINANCIAL SUPPORT AND EMPLOYEES’ FINANCIAL RETIREMENT READINESS
DOI:
https://doi.org/10.33102/mfy71w60Keywords:
Financial retirement readiness, Organizational financial support, Workplace financial education, Financial capability, Financial self-efficacyAbstract
Financial retirement readiness has become an increasingly important issue due to population ageing, rising cost of living, and growing uncertainty of surrounding retirement security. Previous studies have largely emphasized individual financial responsibility on financial retirement readiness. However, emerging evidence suggesting that organizations also play a critical role in supporting employees' retirement preparation through financial education, retirement planning programs, and workplace support initiatives. This paper reviews the existing literature on organizational financial support and employees' financial retirement readiness to identify current knowledge, major research themes, and future research directions. Using a narrative literature review approach, 30 studies published between 1999 and 2026 were synthesized. The review reveals that financial retirement readiness is a multidimensional construct encompassing financial preparedness, planning behaviour, financial capability, confidence, and psychosocial adjustment rather than merely retirement savings adequacy. Organizational financial support consistently enhances employees' financial planning. The review further identifies financial self-efficacy, goal clarity, family support, and financial capability as important mechanisms linking organizational support with retirement readiness. The findings highlight the need for organizations to adopt comprehensive retirement support strategies that integrate financial, psychological, and social resources. This review contributes to the retirement readiness literature by providing an integrated understanding of organizational financial support as a strategic organizational responsibility, particularly within developing economies such as Malaysia.
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