We show that people exposed to greater pension risk are less likely to invest in risky assets. We exploit a reform that … does not affect investments in a pre-reform period, nor does it affect bequest intentions, (expected) retirement, or the …

We show that people exposed to greater pension risk are less likely to invest in risky assets. We exploit a reform that … affect investments in a pre-reform period, nor does it affect bequest intentions, (expected) retirement, or the motivations …

Using data from a stated preferences experiment in the Netherlands, we find that replacing full-time pension schemes …