This study examined the extent to which financial literacy predicts retirement preparedness among librarians in public universities in North-Central Nigeria. Descriptive survey research design was adopted with a population of 244 librarians in 15 public universities in North-Central Nigeria. Census sampling technique was employed for the study. Self-constructed data collection instrument entitled “Financial Literacy and Retirement Preparedness Questionnaire (FLRPQ)” was used for data collection. Face validation was carried out by three experts from the Faculty of Education and Faculty of Vocational Education, Library and Information Science respectively at University of Uyo. The reliability of the instrument was determined through a trial test on 20 librarians from the University of Uyo, and Cronbach’s alpha statistics was used to analyse the obtained data which yielded a reliability coefficient of 0.84. The instrument was administered with the help of 13 research assistants across the universities. Simple regression analysis was used to answer research questions and test the hypotheses at 0.05 level of significance. Findings of the study revealed that financial planning and investment choices to a low extent, predict retirement preparedness among librarians in public universities in North Central Nigeria. The findings also revealed a significant predictive influence of financial planning and investments on librarians’ retirement preparedness. The study concludes that retirement preparedness among librarians in public universities in North- Central Nigeria was inadequate to sustain them in retirement. Without targeted interventions at individual and institutional levels, a significant portion of librarians may face real risk of financial insecurity in retirement. The study recommends among others that university management should provide regular training and workshops on retirement preparedness focusing more on early planning and diversification of investments.
Tyopev et al. (Thu,) studied this question.