Financial literacy and personal retirement planning: a socioeconomic approach

Purpose The purpose of this study was to investigate the effect financial literacy on personal retirement planning in Bukavu city Democratic Republic Congo (DRC), which is a Sub-Saharan underdeveloped country with weak pension and social security system. Design/methodology/approach This used structural equation modeling sample 361 public sector employees selected DRC. data were collected through survey questionnaire, analyzed using SPSS SMART PLS software. Findings results from revealed that has significant impact planning. Two constructs literacy, respectively, computation capability knowledge found have planning, while education attitudes toward products not explaining Practical implications findings can be by policy makers DRC design socioeconomic programs, aiming increase level awareness Originality/value reviewed studies based mostly developed countries, countries system works effectively. We been conducted DRC, specific characteristics compared countries.