Based on the survey data of China Ageing Finance Forum， this paper empirically examines the impact of income level and income uncertainty on retirement saving of urban and rural residents. The results show that in general， income level and income uncertainty have a positive impact on retirement saving. The income level of urban residents has a greater impact， but the income uncertainty of urban residents has a smaller impact than that of rural residents. Quantile regression results show that the impact of income level and income uncertainty increases with the increase of quantile. The impact of urban residents’ income level on each quantile is greater than that of rural residents. The impact of income uncertainty on the low and high quantiles is greater than that of rural residents， and the impact on the middle quantile is less than that of rural residents. The results of heterogeneity regression show that the retirement saving of eastern residents is the most sensitive to the income level and that of central residents is the most sensitive to the income uncertainty. The retirement saving of residents in economically developed areas is more sensitive to income level and income uncertainty. The construction of alternative variables of income uncertainty and the consideration of spatial correlation prove the robustness of the above results. Considering the interaction effect mechanism， it is found that there is interaction effect between income level and income uncertainty of rural samples， but it does not exist in urban samples. These conclusions have important implications for the development of the pension system and the ageing financial market.