In state we trust: Evidence from Poland on why we undersave for retirement

Marek Kosny, Radosław Kurach and Paweł Kuśmierczyk

Eastern European Economics, 2024, vol. 62, issue 3, 294-316

Abstract: With a possible decline in public pension benefits, private savings will become critical for maintaining desired living standards, yet most people undersave. We focus on one of the possible explanations for this: trust in the state. Using data from a dedicated survey and applying structural equation modeling, this study demonstrates that Polish citizens cherish the unconditional, albeit subconscious, belief in the state as a potential rescuer of last resort in life-threatening situations. This trust plays an essential role in people’s propensity to save for the future. We discuss potential explanations of this phenomenon and its consequences for social policymaking.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:62:y:2024:i:3:p:294-316

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DOI: 10.1080/00128775.2023.2178460

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