Article
Behavioral and Continuance Intentions Toward the National Pension System: Investigating Key Antecedents and the Moderating Role of Financial Knowledge.
Purpose: This study examines the key antecedents influencing behavioral intention and continuance intention toward the National Pension System (NPS) among subscribers and investigates the moderating role of financial knowledge in strengthening these relationships.
Design/Methodology/Approach: A quantitative research design was adopted using a structured questionnaire. Data were collected from 436 employees under NPS in Tiruchirappalli (Trichy) District, Tamil Nadu through a survey method. The proposed model was analyzed using Structural Equation Modeling (SEM) to test the relationships among perceived benefits, trust, service quality, behavioral intention, continuance intention, and financial knowledge.
Findings: The findings reveal that perceived benefits, trust, and service quality significantly influence subscribers’ behavioral intentions toward NPS. Behavioral intention, in turn, positively affects continuance intention. Furthermore, financial knowledge significantly moderates the relationship between behavioral intention and continuance intention, indicating that financially knowledgeable subscribers are more likely to continue investing in NPS. These findings support the arguments of Ajzen (1991) and Bhushan and Medury (2013) regarding the importance of behavioral factors and financial literacy in financial decision-making.
Practical Implications: Policymakers and pension fund managers should enhance financial literacy initiatives and improve service quality to increase long-term participation in NPS.
Originality/Value: This study extends pension adoption literature by integrating financial knowledge as a moderating variable in explaining continuance intentions toward NPS.