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Is the belgian Youth Ready for the Reformed Pension System ?

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  • 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 in a context in which a reform of the pension system has increased the importance of making individual retirement savings decisions at an early age. The core information is generated through a survey questionnaire including a small scenario, a financial literacy evaluation and questions on savings preferences. It is then processed through a logit model. The results show that financial literacy is relatively high in our sample of university students. However, differences between demographic groups matter to financial literacy and savings decisions.

Suggested Citation

  • Sidney De Cecco & Antonio Estache, 2015. "Is the belgian Youth Ready for the Reformed Pension System ?," Working Papers ECARES ECARES 2015-28, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:eca:wpaper:2013/207640
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    File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/207640/3/2015-28-DECECCO_ESTACHE-isthebelgian.pdf
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    References listed on IDEAS

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    1. Duflo, Esther & Saez, Emmanuel, 2002. "Participation and investment decisions in a retirement plan: the influence of colleagues' choices," Journal of Public Economics, Elsevier, vol. 85(1), pages 121-148, July.
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    Keywords

    financial literacy; retirement savings; savings decisions; students;

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