Examining factors influencing retirement planning behavior among working individuals from Solwezi in Zambia

This study investigated what influences working people in Solwezi, Zambia, when it comes to retirement planning. Although the value of retirement planning is becoming more widely recognised, a sizable section of the population is still ill-prepared for life after work. To investigate how factors such as financial literacy, family education, materialism, future orientation, and tendency to plan affect saving attitudes. Consequently, retirement planning behaviours. The study uses a mixed-methods approach that integrates qualitative and quantitative data. Structured questionnaires were used to collect data from 275 respondents and statistical techniques such as hierarchical multiple regression and correlation were used to test the proposed relationships. The results show that while financial literacy (Beta= -0.037, p> 5%) and family education (Beta= 0.070, p> 5%) had less direct effects on retirement planning. While, future orientation (Beta= 0.396***, p< 0.1%), materialism (Beta= 0.357***, p< 0.1%), and propensity to plan (Beta= 0.259***, p< 0.1%) all had a significant effect. An important mediating factor that was positively correlated with retirement planning was the attitude toward saving with a coefficient correlation of 0.322. The study emphasises the need for focused interventions to encourage financial literacy of employees and forward-thinking behaviours. Policymakers, employers, and financial institutions can use these insights to help create initiatives that promote long-term financial security and proactive retirement planning.