This study aims to determine the relationship of financial literacy and retirement savings ownership. This study also tests whether socio-economic characteristics, such as marital status, number of children, tenure of employment, and amount of monthly income can affect a person’s decision to own retirement savings for future prosperity. The research method is quantitative, using Spearman correlation test with the sample number of 170 employees from a state-owned bank in Payakumbuh, West Sumatra, Indonesia. Results showed that only number of children and tenure of employment of the socio-economic characteristics have relationship with retirement savings ownership, while marital status and amount of monthly income have no relationship with retirement savings ownership. Moreover, results show that financial literacy has a relationship with retirement savings ownership. Hence, improving financial knowledge, especially directly related to retirement savings is necessary, to increase penetration and density of retirement savings in Indonesia.