Financial literacy affects wealth accumulation, and pension planning plays a key role in this relationship. In a large …

Planning for retirement and subsequent execution of the plan are difficult, but essential for financial security in old … accumulate lower pension wealth. The possibility of rational inaction can explain other robustly observed behaviours, such as … disproportionately low savings of individuals on low incomes and non-fungibility between public and private pension wealth. The model is …

We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers …' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goals. In the treatment … condition, it also projects retirement income based on definedcontribution savings, prominently displays the gap between …

We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers …' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goal. In the treatment … condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between …

Planning for retirement is difficult, but essential for future financial security. To formally analyse the interplay … default contribution rates. Due to the same mechanism, automatic enrolment reduces cross-agent variation in wealth … optimal life-cycle pattern of retirement saving. Importantly, the effects are highly heterogeneous across the income …

retirement plan costs and investment choices provided, make it important to understand how people select their retirement plan … retirement wellbeing. We show that streamlined participants' new allocations exhibited significantly lower within-fund turnover …

We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers …' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goal. In the treatment … condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between …

Long term care expenses represent a known unknown in retirement planning. A large majority of households will need some … calculate a distribution of total care costs for a particular household.We find that roughly 85% of couples will utilize long … term care prior to death. Long term care expenses impact financial plan sustainability at a declining rate as wealth …

Do workers value retirement benefits? We find that dollars paid in employer contributions to 401(k) plans have double …-age occupations. We use two novel instruments for identification: 1) IRS non-discrimination testing of retirement plans and 2 …) national wage setting. We then estimate an on-the-job search model which shows that higher income workers value retirement …