Financial Capability:New Evidence for Ireland
Recent increases in financial innovation, particularly in the Anglo-Saxon banking culture, have seen a considerable growth in the amount of financial products available to the general public. Simultaneously, many workers are increasingly assuming responsibility for planning for their future pensions. This allied to increased life expectancy necessitates a greater degree of financial capability amongst the general public. This study has empirically examined this issue for the first time in an Irish context. As such, this report follows a nascent literature internationally. The related issue of financial literacy has been studied for several years in the US while a major study of financial capability was completed in the UK in 2006. This report follows that UK study closely. This is the first major evidence on financial capability inIreland, conducted with a purpose-designed, in-depth, representative survey of just over 1,500 people.
|Date of creation:||Feb 2009|
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