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Financial Literacy And Retirement Preparedness In Sri Lanka: Evidence From The Private Sector Employees, Tiyani Lakshmi Rodrigo
Financial Literacy And Retirement Preparedness In Sri Lanka: Evidence From The Private Sector Employees, Tiyani Lakshmi Rodrigo
Theses and Dissertations--Family Sciences
The South Asian country of Sri Lanka has a rapidly aging population, but little attention has been paid to individuals and families' financial preparedness for retirement. This study aims to overview the current system of retirement preparedness in Sri Lanka, and to examine financial and pension literacy's role on the retirement preparedness. Specifically, this study evaluated three domains of retirement preparedness: planning for retirement and perceived retirement income adequacy (subjective measures, n = 142), and wealth accumulation (objective measure, n = 115). Results show that (1) financial literacy had a positive and statistically significant association with retirement preparedness (only with …