This study aims to examine antecedents of the pension schemes in Indian context. The relationship between the factors underlying the perception of subscribers towards the pension plan: financial knowledge, investment strategy, and satisfaction of investors (employees) is examined. Further, the effect of financial security, future financial goals, risk appetite, and secured returns on the investment strategy and satisfaction are explored. After checking the measurement properties of the structured survey instrument using the structural equation modeling with Lisrel package, data collected from 480 employees working in various administrative units of a State in the northern part of India, were analyzed. The Hayes’s PROCESS was used in analyzing the moderated moderated-mediation complex model and the results reveal that (i) financial knowledge is positively related to (a) investment strategy, and (b) investor satisfaction. The investment strategy mediated the relationship between financial knowledge and employee satisfaction. Further, the results indicate that future financial goals (first moderator) and financial security (second moderator) moderated the relationship between financial knowledge and investor satisfaction mediated through investment strategy. The results also documented that risk appetite moderated the relationship between investment strategy and investor satisfaction; and secured returns moderated the relationship between financial knowledge and employee satisfaction. The novelty of this study stems from the three-way interaction between the financial knowledge, future financial goals, and financial security in influencing the financial strategy. The implications for research and practice are discussed.

本研究旨在探讨印度养老金计划的前因。研究了订阅者对养老金计划看法的因素之间的关系：金融知识、投资策略和投资者（雇员）的满意度。此外，还探讨了财务安全、未来财务目标、风险偏好和安全回报对投资策略和满意度的影响。在使用 Lisrel 软件包的结构方程模型检查结构化调查工具的测量属性后，对从印度北部一个邦的各个行政单位工作的 480 名员工收集的数据进行了分析。 Hayes's PROCESS 用于分析有调节的调节-中介复合模型，结果表明 (i) 金融知识与 (a) 投资策略和 (b) 投资者满意度正相关。投资策略调节了金融知识与员工满意度之间的关系。此外，结果表明，未来财务目标（第一调节因素）和财务安全（第二调节因素）通过投资策略调节了金融知识和投资者满意度之间的关系。结果还证明，风险偏好调节了投资策略和投资者满意度之间的关系；稳定的回报调节了金融知识与员工满意度之间的关系。本研究的新颖性源于金融知识、未来金融目标和金融安全之间的三向相互作用对金融策略的影响。讨论了对研究和实践的影响。