Disparities in financial literacy, pension planning, and saving behavior


Bucher-Koenen, Tabea ; Hackethal, Andreas ; Kasinger, Johannes ; Laudenbach, Christine


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URN: urn:nbn:de:bsz:180-madoc-634723
Document Type: Working paper
Year of publication: 2022
The title of a journal, publication series: ZEW Discussion Papers
Volume: 22-037
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
Business School > Finanzmärkte (Bucher-Koenen 2019-)
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: D14 , G11 , G51 , G53,
Keywords (English): saving behavior , retirement planning , digital planning tool
Abstract: Financial literacy affects wealth accumulation, and pension planning plays a key role in this relationship. In a large field experiment, we employ a digital pension aggregation tool to confront a treatment group with a simplified overview of their current pension claims across all pillars of the pension system. We combine survey and administrative bank data to measure the effects on actual saving behavior. Access to the tool decreases pension uncertainty for treated individuals. Average savings increase|especially for the financially less literate. We conclude that simplification of pension information can potentially reduce disparities in pension planning and savings behavior

Dieser Eintrag ist Teil der Universitätsbibliographie.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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