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Is the belgian youth ready to save for retirement under a defined contribution pension system?

Author

Listed:
  • Sidney De Cecco
  • Antonio Estache

Abstract

The paper analyses levels of financial literacy among university students in a Belgian University and links them to their retirement savings preferences based a logit model of data collected through a survey. Both dimensions are crucial since a reform of the pension system has increased the importance of individual retirement savings decisions at an early age. We find that financial literacy is relatively high in our sample but that there is heterogeneity in how it impacts savings for retirement decisions, driven by socio-demographic dimensions. Some groups are clearly at risk of not saving enough under the new pension system, including among the highly financially literate population.

Suggested Citation

  • Sidney De Cecco & Antonio Estache, 2016. "Is the belgian youth ready to save for retirement under a defined contribution pension system?," ULB Institutional Repository 2013/242273, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/242273
    Note: SCOPUS: ar.j
    as

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    Cited by:

    1. Gregova Elena, 2014. "Quality of business environment in Slovakia from the point of view of small enterprises," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 2, August.
    2. Xie, Xiaohong & Osińska, Magdalena & Szczepaniak, Małgorzata, 2023. "Do young generations save for retirement? Ensuring financial security of Gen Z and Gen Y," Journal of Policy Modeling, Elsevier, vol. 45(3), pages 644-668.
    3. Bulina Anna O., 2014. "Institutions in the new economy," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 2, August.

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