pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

savings plan has been shown to boost wealth. Overall, financial literacy, both directly and indirectly, is found to have a …

expected to hold less precautionary savings …

selfʺ emerges when labor supply and savings decisions are made. The social welfare function is paternalistic: the rate of … show that the paternalistic solution does not necessarily imply forced savings for the myopics. This is because …

When it comes to estimating the benefits of long-term savings, many people rely on their intuition. Focusing on the … domain of retirement savings, we use a randomized experiment to explore people's intuition about how money accumulates over … time. We ask half of our sample to estimate future consumption given savings (the forward perspective). The other half of …

directly translate in additional retirement savings. We show that the annuity stream generated by conventional and … unconventional accounts from age 65 onwards is small and that most savings are residual and are not being put aside for a specific … motive. Also self-employed retirement savings are low, even though this group has generally no occupational pension …

savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the … show the ability of the retrospective survey to generate cross-country differences in wages and pensions which are in line …

illiterate. Moreover, as expected, I found that financial literacy increases the probability of having a savings plan for …