International Journal of Managerial Studies and Research (IJMSR) Volume 6, Issue 9, September 2018, PP 15-30 ISSN 2349-0330 (Print) & ISSN 2349-0349 (Online) http://dx.doi.org/10.20431/2349-0349.0609002 www.arcjournals.org International Journal of Managerial Studies and Research (IJMSR) Page |15 Intention Model Analysis of Bogor Society against Pension Fund in Retirement Planning Putri Putu Pratami 1* , Budi Suharjo 2 , Endar Hasafah Nugrahani 3 Magister of Applied Mathematics, Faculty of Mathematics and Natural Science, Bogor Agricultural University, Bogor, Indonesia 1. INTRODUCTION Indonesia has a high workforce. Central Bureau of Statistics (BPS) released the workforce as of February 2016 which is 120,647,697 people from the total workforce of 127.671.869 people, which means the Indonesian workforce reached 94.50 %. Everyone should not only thinking about welfare while working but also thinking about the retirement welfare. As time passes, the necessities of life will get bigger but someone's ability to do things becomes less and less. This is the reason for the importance of preparing investment and financial problems in old age. The sufficient wealth, healthy, and financially free is what everyone wants when facing retirement. Investments help one to prepare for a quality pension because the cost of living over time continues to grow. The government still can not provide old-age insurance to all people who have entered retirement. It becomes one of the reasons one should think about oneself, both in productive and retirement. Therefore, one must prepare all the necessities to face retirement. One of the investment that guarantee the retirement is the Pension Fund. Pension Fund, the government considers that national development is needed to collect and manage the Fund in order to maintain the continuity of income in the old days in order to realize social justice for all Indonesian people. The Pension Fund is a means of raising funds to improve the welfare of its participants and increase the participation of the community in preserving the increasing and sustainable national development and ensuring the holding of Pension Fund can also increase the motivation, the working calm to increase productivity, and improve the prosperity. Public awareness of the importance of planning in the old days still need to be grown. The Financial Services Authority (OJK) publishes Pension Fund Statistic report 2014 and 2015. The participant of Dana Pensiun 2015 is 4,189,527 people or an increase of 6.30 % from 2014 of 264,083 people. Based on BPS data in August 2015, 68,036,477 workforce, so that the number of pension fund participant in 2014 on the number of Indonesian workers nationwide is only 6.16 %. This figure is still very far from the hope of remembering there are 93.84 % more people who have not become participants of the Pension Fund (OJK 2015). Penetration of Pension Fund participants in 2011 - 2015 can be seen in Table 1. Abstract: Indonesia has a high workforce. Central Bureau of Statistics Indonesia released the workforce as of February 2016 which is 120,647,697 people from the total workforce of 127.671869 people, which means the Indonesian workforce reached 94.50 %. However, only 6.16% of Indonesia's workforce has not had a retirement plan. The purpose of this research is to identify the factors that influence the intention of Bogor society towards the retirement planning and to build the model of causality of retirement planning of Bogor City with Theory of Planned Behavior. Sampling technique used is simple random sampling, cluster sampling, and systematic sampling then processed with structural equation model (SEM). The result of this research is only 26% of respondents have pension fund. The indicator variables BB2, SN3, SN4, SN5, MTC2, and MTC3 are not able to validate each of the latent variables. The reliability result shows that SN, MTC, and ITU variables cannot be said to be reliable. Hypothesis test of latent variables shows that only the subjective norms have a significant effect on the intention of retirement planning. Keywords: Structural Equation Modeling, Theory of Planned Behavior, Pension Fund, Retirement Planning *Corresponding Author: Putri Putu Pratami, Magister of Applied Mathematics, Faculty of Mathematics and Natural Science, Bogor Agricultural University, Bogor, Indonesia