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Retirement Decisions, Eligibility and Financial Literacy

Author

Listed:
  • Sara Burrone

    (University of Firenze
    University of Turin and CeRP-Collegio Carlo Alberto)

  • Mariacristina Rossi

    (University of Turin and CeRP-Collegio Carlo Alberto)

Abstract

In this work, we analyze if and to what extent financial literacy has an impact on workers’ retirement decisions. We do so with reference to Italy, a country that has undergone important pension reforms in the last two decades. We use the Survey on Household Income and Wealth (SHIW) in the period 2006 to 2010, for which we have information on financial literacy. Our findings show that financially literate workers are more inclined to postpone retirement when they are (at least partially) enrolled in a DC scheme, Conversely, financial literacy does not seem to affect the retirement plans of workers who are still covered by the more generous DB formula.

Suggested Citation

  • Sara Burrone & Mariacristina Rossi, 2016. "Retirement Decisions, Eligibility and Financial Literacy," CeRP Working Papers 163, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    • Handle: RePEc:crp:wpaper:163
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    File URL: http://www.cerp.carloalberto.org/wp-content/uploads/2016/07/WP_163.pdf
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    Cited by:

    1. Debets, Steven & Prast, Henriette & Rossi, Mariacristina & van Soest, Arthur, 2018. "Pension Communication in the Netherlands and Other Countries," Other publications TiSEM 247a0420-2150-40f5-8b29-8, Tilburg University, School of Economics and Management.

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