Impact Of Financial Literacy On Employee Pension Planning In Private Enterprises

In recent years,China’s economy has maintained a high-speed momentum of development,people’s living standards continue to improve,and the attention to the issue of pension is also growing.However,under the current social and economic background,the pension of residents still mainly depends on basic pension insurance,lacking diversified pension planning.This is closely related to residents’ insufficient attention to financial management and traditional pension concepts.Comparing with foreign citizens,we can see that the financial literacy of Chinese residents is generally not high,and there is a great passivity for pension planning.For the employees of private enterprises,there are also many problems in pension planning because of the lack of implementation of enterprise annuity in private enterprises and the low impact of financial literacy.This paper chooses enterprise B as the research object in the process of research.On the basis of relevant research and theory at home and abroad,it carries out relevant research on enterprise B.The data collected by the questionnaire are analyzed by descriptive statistics,and the influence of financial literacy on pension planning is further analyzed by using Probit model.The following conclusions are drawn: financial literacy has a significant positive impact on pension planning of employees in private enterprises,even if the survey data collection work is carried out in a small area of an industrial Park in B enterprises,and the impact of financial literacy on pension planning is analyzed by regression analysis.Different factors such as gender,age and job nature also have different effects on employees’ financial literacy.From the analysis results,we can see that women are more likely to plan for the aged than men;with the increase of age,employees are more likely to plan for the aged,but there is a certain marginal decline effect;with the increase of income,the more disposable funds,the more employees will plan for the aged ahead;education level and pension planning also have a positive impact;managers from the elderly planning by There are more sources of financial information and generally higher financial literacy,so they are more willing to carry out pension planning.Married and conventional families have some negative effects on pension planning,but not significant.Based on the above research and analysis,this paper puts forward corresponding countermeasures and suggestions from two aspects: improving employees’ financial literacy and cultivating employees’ awareness of pension planning,so as to promote private enterprise employees to carry out reasonable pension planning.