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Determinants of Dropouts from Voluntary Pension Scheme: Evidence from Sri Lanka

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dc.contributor.author Heenkenda, S.
dc.date.accessioned 2017-10-24T08:30:11Z
dc.date.available 2017-10-24T08:30:11Z
dc.date.issued 2016
dc.identifier.citation Heenkenda, S. (2016). "Determinants of Dropouts from Voluntary Pension Scheme: Evidence from Sri Lanka", International Journal of Business and Management Society, Vol.1 (1), pp. 10-22 en_US, si_LK
dc.identifier.uri http://dr.lib.sjp.ac.lk/handle/123456789/6106
dc.description.abstract Attached en_US, si_LK
dc.description.abstract This paper seeks to investigate the determinants of dropouts from the voluntary pension scheme (VPS) introduced by the social security board of Sri Lanka. A face-to-face questionnaire distribution was administered to clients of the social security board who subscribed to the VPS. Systematic random sampling techniques were used to survey the dropped out individuals and active members. A multivariate logistic regression model was used to examine associations betweep the independent variables and factors associated with the dropout decision. The empirical results show that most individuals lack awareness and knowledge of the pension scheme, even if they were active members of the VPS. Some significant factors are highlighted in the results explaining dropout. A higher number of household dependents has a positive contribution to the dropout. The study also highlighted that the income, assets, financial inclusion, financial literacy, and social capital factors have a significant influence for the discontinuation of their pension scheme. Strengthening service quality and extending the comfortable premium collection mechanism is a valuable strategy to increase the popularity of the pension scheme
dc.language.iso en_US en_US, si_LK
dc.publisher International Journal of Business and Management Society en_US, si_LK
dc.subject Financial Inclusion en_US, si_LK
dc.subject Dropout en_US, si_LK
dc.subject Social Security en_US, si_LK
dc.subject Voluntary Pension Scheme en_US, si_LK
dc.title Determinants of Dropouts from Voluntary Pension Scheme: Evidence from Sri Lanka en_US, si_LK
dc.type Article en_US, si_LK


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