Original Research

Retirement saving behaviour of young adults in the financial services sector

Hugue Nkoutchou, Riëtte Eiselen
Journal of Economic and Financial Sciences | Vol 5, No 1 | a304 | DOI: https://doi.org/10.4102/jef.v5i1.304 | © 2018 Hugue Nkoutchou, Riëtte Eiselen | This work is licensed under CC Attribution 4.0
Submitted: 28 June 2018 | Published: 30 April 2012

About the author(s)

Hugue Nkoutchou, Department of Finance and Investment Management, University of Johannesburg, South Africa
Riëtte Eiselen, Department of Finance and Investment Management, University of Johannesburg, South Africa

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In a society characterised by high levels of consumption that result in high levels of debt, saving sufficiently for retirement represents a major challenge, especially in light of the steadily increasing cost of living and the cost associated with healthcare. Questions regarding the extent to which retirees have accumulated sufficient money during their working years to support them are being raised. The purpose of this exploratory study was to investigate the behaviour of young adults in relation to retirement provision. A web-based survey was conducted in a single large organisation. The findings revealed that young adults tend to have a wide range of debt. Although they are aware that the funds accumulated in their retirement funds would not provide sufficient cover during retirement, they tend not to save over and above the minimum contribution to their employing organisation’s retirement fund. Organisations should encourage young adults to reduce their debt and voluntarily save for retirement.


young adult; retirement; saving; behaviour; South Africa


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