The Analysis and Implication of Path That Financial Literacy Affects Retirement Planning

The worldwide pension reform has increasingly transferred pension responsibilities to individuals, individual needs reasonable consumption, savings and investment to make informed inter-temporal decision. Global survey found that financial literacy is uneven, which is a significant factor of the pension plan and pension saving. Existing pension insurance system does not consider the personal financial literacy differences, and that everyone can make rational decisions. This paper does an analysis and summary about the empirical study of the residents' financial literacy and retirement planning analysis, drawing a conclusion of the path of financial literacy acted on pension planning, it will play an active role in enhancing the financial literacy and making a reasonable pension plan of our residents.