Experience of financial challenges, retirement concerns, and planning: evidence from representative samples of workers in 16 countries
-
Published:2023-06-19
Issue:
Volume:
Page:1-19
-
ISSN:1474-7472
-
Container-title:Journal of Pension Economics and Finance
-
language:en
-
Short-container-title:Journal of Pension Economics and Finance
Author:
Innocenti StefaniaORCID,
Clark Gordon L.,
McGill Sarah
Abstract
Abstract
We examine whether an individual's inability to save in the last 12 months affects the extent to which they are concerned about their future financial security and their propensity to plan for retirement. We use an original survey based upon representative samples of working individuals in 16 countries. We show that individuals who were unable to save over the 12-month period prior to the survey are less likely to consider well-being in retirement as their major financial concern. They are also less likely to invest in supplementary pension funds than those who were able to accumulate savings. We provide evidence that these findings are robust under several specifications and are mediated by respondents' perceived income prospects and assessment of their current financial situations.
Publisher
Cambridge University Press (CUP)
Subject
Organizational Behavior and Human Resource Management,Economics and Econometrics,Finance,Organizational Behavior and Human Resource Management,Economics and Econometrics,Finance
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献