In this work we revisit the retirement consumption puzzle using Italian panel data. As emphasised in the literature, the observed consumption drop might be due to unexpected wealth shocks at retirement which modify optimal consumption plans. Using an Euler equation approach, we test the impact...

This paper is centered on the complementary roles played by pension communication/information and financial literacy for a sustainable and equitable nonfinancial defined contribution (NDC) system at both the micro and macro socioeconomic level. The paper presents new evidence on: (i) the concern...