The shift towards defined contribution schemes is forcing employees to take personal responsibility for securing their future through intentional retirement savings. Financial behavior may have a significant bearing on whether employees meet their contributory retirement obligations while avoiding financial distress. Utilising a cross-sectional research design and data from pension scheme members in Kenya, the study evaluates the interaction of self-control bias. The binary logistic regression results showed that financially disciplined individuals are 1.634 times more likely to plan comprehensively for their retirement, while the interaction results suggest that individuals with self-control bias are 0.502 times less likely to be comprehensive retirement planners even if they are already financially disciplined. The findings imply that financial discipline coupled with selfcontrol is necessary for retirement planning. The use of behavioral change interventions is recommended in financial education initiatives in order to inculcate both desirable financial behavior and self-control attributes in planning for retirement.

The rising cost of living, increasing life expectancy and high levels of old-age poverty in Kenya implies that many older people cannot afford necessities. Therefore, the need for individuals to plan for their future financial needs through planning for their retirement has become crucial. Unfortunately, most people who save for retirement in Kenya save with the National Social Security Fund (NSSF), which has a low replacement rate. Therefore, financial knowledge plays an indispensable role in influencing an individual's retirement savings behavior. This paper seeks to establish the influence of financial knowledge on retirement planning in Kenya. The target population was members of the occupational retirement schemes, NSSF and individual retirement schemes in Kenya. A cross-sectional research design was used and a stratified sampling technique to obtain respondents. Using binary logistic regression and primary data from a sample of 332 randomly selected members of pension schemes in Kenya, the study found that financially knowledgeable individuals are more likely to plan comprehensively for their retirement. The study recommends the formulation of training and educational programs on critical financial concepts linked to retirement planning to spur pension schemes to actively participate in retirement savings.