EconPapers    
Economics at your fingertips  
 

Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?

M. Martin Boyer (), Philippe d’Astous and Pierre-Carl Michaud ()

Cahiers de recherche from Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques

Abstract: We conduct a stated-choice experiment to analyze the decision to contribute to front- or back-loaded tax-sheltered savings accounts. Our experimental design includes a randomized financial education treatment that provides information on the two types of accounts. We assess whether respondents learn about the tax implications of these accounts, and whether they make better contribution choices when exposed to the financial education intervention. We find that, relative to a control group, our intervention improves both the understanding of the tax implications of the savings accounts (an increase of 6 to 15 points on a score of 100) and the quality of contribution decisions, improving the well-being of respondents by about 140$ in each scenario presented to them.

Keywords: Tax sheltered saving; retirement saving; financial education. (search for similar items in EconPapers)
JEL-codes: G11 H31 D14 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-exp and nep-fle
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.cedia.ca/sites/cedia.ca/files/cahier_19 ... cation_decisions.pdf

Related works:
Working Paper: Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions? (2019) Downloads
Working Paper: Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions? (2019) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lvl:criacr:1902

Access Statistics for this paper

More papers in Cahiers de recherche from Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques Contact information at EDIRC.
Bibliographic data for series maintained by Manuel Paradis ().

 
Page updated 2020-05-15
Handle: RePEc:lvl:criacr:1902