IDEAS home Printed from https://ideas.repec.org/h/spr/eurchp/978-3-031-98398-6_11.html
   My bibliography  Save this book chapter

Enhancing Voluntary Saving for Retirement: A Literature Review

Author

Listed:
  • Bojana Olgić Draženović

    (University of Rijeka)

Abstract

Voluntary saving for retirement is crucial for individuals and economies as it has a positive impact on the adequacy and sustainability of pension systems. Investing in voluntary pension funds offers benefits such as the potential for higher returns through active allocation, securing future financial needs, promoting retirement saving and improving national savings while generating additional income for beneficiaries. The aim of the article is to present the most relevant studies on the promotion of voluntary pension saving and to propose different approaches to improve voluntary pension saving. The article examines the methods to encourage pension saving, focusing on non-tax and behavioral incentives. The key to promoting voluntary pension saving lies in improving financial literacy and applying behavioral economic principles. In particular, the results of the literature review show that a method of introducing automatic enrolment procedures for employees in voluntary pension schemes can gradually increase participation rates. Finally, governments can also play a role by offering tax benefits and other financial incentives to encourage pension saving. This paper provides the basis for further empirical research on how to attract more members and significantly increase participation rates in voluntary pension funds.

Suggested Citation

  • Bojana Olgić Draženović, 2025. "Enhancing Voluntary Saving for Retirement: A Literature Review," Eurasian Studies in Business and Economics,, Springer.
    • Handle: RePEc:spr:eurchp:978-3-031-98398-6_11
    DOI: 10.1007/978-3-031-98398-6_11
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:eurchp:978-3-031-98398-6_11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.