Who is Eager to Save for Retirement – the Cross-Country Evidence

Anna Kaliciak (), Radoslaw Kurach () and Walid Merouani

No 23, LWS Working papers from LIS Cross-National Data Center in Luxembourg

Abstract: In this study we challenge the problem of inadequate voluntary pension saving looking for its behavioural determinants. By exploring the Luxembourg Wealth Study dataset for four countries (Greece, Italy, United Kingdom and United States) we argue that financial risk aversion and intertemporal choices significantly affect the individuals‟ propensity to save for retirement. Moreover, we verify the links between these two behavioural factors and sociodemographic characteristics of the investigated societies which should have practical implications for regulatory framework.

Keywords: supplementary pension savings; risk aversion; intertemporal choices; sociodemographic factors; retirement; retired (search for similar items in EconPapers)
JEL-codes: C25 H55 J32 (search for similar items in EconPapers)
Pages: 58 pages
Date: 2016-12
New Economics Papers: this item is included in nep-age, nep-eur and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:lis:lwswps:23

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