Retirement savings in the Survey on Household Income and Wealth
Giuseppe Cappelletti and
No 77, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
This paper examines the retirement decisions of Italian households using data from the Survey on Household Income and Wealth (SHIW) for 2008. The analysis focuses on the adequacy of pension wealth, knowledge of supplementary retirement rules, the determinants of enrolment decisions and workersï¿½ propensity to convert their wealth into an annuity at retirement. The results indicate that pension wealth is inadequate for a substantial part of the Italian population. Moreover, workers have a poor understanding of the rules of supplementary retirement schemes and little awareness of their pension situation. These results confirm that an improvement in financial education is essential in order to promote retirement saving. The analysis shows, however, that such interventions could be ineffective in the case of workers in lower income classes with little opportunity to increase their savings.
Keywords: supplementary pension funds; occupational pension funds; retirement savings; replacement rate; annuity (search for similar items in EconPapers)
JEL-codes: D91 H55 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-lab
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_77_10
Access Statistics for this paper
More papers in Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area Contact information at EDIRC.
Bibliographic data for series maintained by ().