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Financial Literacy and Retirement Planning in Sweden

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Author Info

  • Johan Almenberg

    () (Ministry of Finance, Sweden)

  • Jenny Säve-Söderbergh

    () (The Swedish Social Institute for Social Research)

Abstract

We examine the relationship between financial literacy and retirement planning in a representative sample of Swedish adults. We find significant differences in financial literacy between planners and non-planners. Financial literacy levels are also lower among older people, women and those with low education or earnings. When we control for demographic variables we do not find an association between a narrow measure of financial literacy and planning, but with a broader measure the association is positive and statistically significant. We relate these findings to features of the Swedish pension system.

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Bibliographic Info

Paper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 112.

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Length: 35 pages
Date of creation: Mar 2011
Date of revision:
Handle: RePEc:crp:wpaper:112

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Related research

Keywords: Financial literacy; pensions planning;

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Cited by:
  1. Xu, Lisa & Zia, Bilal, 2012. "Financial literacy around the world : an overview of the evidence with practical suggestions for the way forward," Policy Research Working Paper Series 6107, The World Bank.
  2. Annamaria Lusardi, 2012. "Numeracy, financial literacy, and financial decision-making," NBER Working Papers 17821, National Bureau of Economic Research, Inc.

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