What Are the Driving Forces of Individuals’ Retirement Savings?
The purpose of this paper is to analyze what factors are driving the retirement savings of European individuals and whether there are marked differences in retirement preparation among a sample of European countries. Our evidence is based on a sample of 6,036 individuals from eight European countries. The results show that although the percentage of savers for retirement varies widely across countries, the driving forces of the decision to save for retirement are quite similar. Thus, this decision is positively related to individuals’ age, financial literacy, household income, and saving habit. In addition, the results suggest that country-level institutional factors also play a crucial role in an individual’s retirement attitudes.
Volume (Year): 60 (2010)
Issue (Month): 3 (August)
|Contact details of provider:|| Postal: Opletalova 26, CZ-110 00 Prague|
Phone: +420 2 222112330
Fax: +420 2 22112304
Web page: http://ies.fsv.cuni.cz/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:fau:fauart:v:60:y:2010:i:3:p:226-251. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lenka Herrmannova)
If references are entirely missing, you can add them using this form.