, we then show a strong correlation between financial literacy and the knowledge of the retirement system in Canada …. Finally, we provide evidence that general financial literacy and knowledge of the retirement system matter for retirement … preparation, by showing that Canadians with higher financial literacy scores and better knowledge of the retirement system are …

We elicit preferences for retirement timing in a laboratory experiment. Subjects make retirement choices under … incentive alone shows a considerable delay of retirement once early retirement becomes financially less attractive. However … compared to those who only know their pension annuity. We conclude that the financial consequences of retirement choices become …