Is the belgian Youth Ready for the Reformed Pension System ?

Sidney De Cecco and Antonio Estache

Working Papers ECARES from ULB -- Universite Libre de Bruxelles

Abstract: The paper analyses levels of financial literacy among university students in a Belgian University and links them to their retirement savings preferences in a context in which a reform of the pension system has increased the importance of making individual retirement savings decisions at an early age. The core information is generated through a survey questionnaire including a small scenario, a financial literacy evaluation and questions on savings preferences. It is then processed through a logit model. The results show that financial literacy is relatively high in our sample of university students. However, differences between demographic groups matter to financial literacy and savings decisions.

Keywords: financial literacy; retirement savings; savings decisions; students (search for similar items in EconPapers)
Pages: 27 p.
Date: 2015-07
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