September 2018

08Sep

2018 Retirement preparedness survey: A Generational Challenge

By Prudential The U.S. retirement landscape has changed dramatically over the past few decades. Fewer workers today are eligible to receive a pension and instead must save for their own retirements, typically through workplace savings plans. Replacement rates for Social Security are declining due to the increase in the “full retirement age.”1 Income is becoming less predictable, thanks in part to new employment models. Health care costs are increasing, and so is longevity—which means workers today don’t just have more...

September 8, 2018
Aging, Books, Labor Market, Savings, , ,
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August 2018

25Aug

Financial Literacy: Empowerment in the Stock Market

By Ali Saeedi &‎ Meysam Hamedi  This book provides an overview of current issues associated to financial literacy improvement. In selecting and structuring the material to include, the primary criterion has been applicability of topics and recommendations and accuracy of trends toward better financial literacy level. Each chapter is dedicated to a particular component of financial literacy from education to capability. Throughout the book, there are many practices initiated around the world which, regardless of their superiority, are all useful initiatives...

August 25, 2018
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July 2018

23Jul

The Retirement Belief Model: Understanding the Search for Pension Information

By Wiebke Eberhardt (Maastricht University), Elisabeth Brüggen (Maastricht University), Thomas Post (Maastricht University) & Chantal Hoet (Aegon) Many individuals avoid information relevant for retirement planning. This behavior is worrying as pension systems shift risks and responsibilities to individuals. Individuals who avoid pension information fail to discover whether they save too little for retirement, negatively affecting their long-run financial well-being. We generate knowledge about the factors that stimulate or hinder the search for pension information. Using an interdisciplinary lens, we develop...

July 23, 2018
Articles, Pension design, , ,
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February 2018

12Feb

Overcoming the Saving Slump: How to Increase the Effectiveness of Financial Education and Saving Programs

By Annamaria Lusardi The great majority of working Americans are unprepared to face the difficult task of planning for retirement. In fact, the personal savings rate has been holding steady at zero for several years, down from 8 percent in the mid-1980s. Overcoming the Saving Slump explores the many challenges facing workers in the transition from a traditional defined benefit pension system to one that requires more individual responsibility, analyzing the considerable impediments to saving and evaluating financial literacy programs...

February 12, 2018
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January 2018

15Jan

Nudging Financial and Demographic Literacy: Experimental Evidence from an Italian Trade Union Pension Fund

By Francesco C. Billari (Bocconi University - Department of Policy Analysis and Public Management), Carlo A. Favero (Bocconi University - Department of Finance; Centre for Economic Policy Research (CEPR)) & Francesco Saita (Bocconi University - Department of Finance) In this article, we present and test experimentally a low-cost, Internet-based, financial literacy program that we designed for implementation with the largest industrial pension fund in Italy. The program, Finlife (Financial Education and Planning for a Long Life) included 1) an instructional...

January 15, 2018
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08Jan

Addressing Financial Illiteracy Through Financial Innovation: The Case for Goal-Specific Bonds the Embed Inflation and Compounding

By Arun Muralidhar (AlphaEngine Global Investment Solutions; George Washington University) Financial illiteracy is widespread and leads to bad financial decisions (high debt, insufficient savings). Individuals cannot answer basic questions about inflation, compounding, and diversification. While financial literacy can be enhanced, are individuals teachable, and if so, what should they be taught and how lasting is the training? Prof. Merton suggests that some individuals can only be helped with innovation; Prof. Richard Thaler has argued for making the financial system more...

January 8, 2018
Articles, Investing, Labor Market, Savings, Slider-Left, ,
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December 2017

30Dec

The Household Savings Paradox

By Tobias Meyll (University of Giessen - Department of Financial Services), Thomas Pauls (Goethe University Frankfurt) & Andreas Walter (University of Giessen - Department of Financial Service) Using representative data from Germany, we reveal that more than 27.3% of the population not only restrains from participating in the stock market but also refuse to invest in contractual savings and retirement products. In fact, we find that these households rely on deposits only - an investment strategy usually related to negligible...

December 30, 2017
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23Dec

Investigating the Level of Financial Literacy of University Students

By Israel J. dos S. Felipe Sr. (Universidade Federal de Ouro Preto (UFOP)), Harrison Bachion Ceribeli Sr.( Universidade Federal de Ouro Preto (UFOP)) & Lana, T. Q. (Energisa) Considering that the quality of financial decisions taken by individuals depends on their financial knowledge, abilities and attitudes, it is possible to state that the well-being of a population depends on how financially literate it is. In this context, the aim of this study was to measure the financial literacy level of...

December 23, 2017
Aging, Articles, Labor Market, , ,
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18Dec

Comparison of Psychosocial Factors Affecting the Demands for Pension Plans Between American and Chinese Residents

By Ruiqi Tian (Southwest Jiao Tong University - Psychological Research and Counseling Center) & Ruilin Tian (North Dakota State University - Department of Accounting, Finance, and Information Systems) Pension becomes more and more important as people are living longer and pursuing higher living quality after retirement. This paper is to analyze the psychosocial factors that affect people’s pension demands in the US as well as in China. As two representative countries that have different pension systems, cultures, value systems, family...

December 18, 2017
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11Dec

The Facts of Women’s Labor Behavior in the Field of Education

By Spankulova Seitkazievna (Narxoz University) In the article the labor behavior of women in education in post-Soviet countries is analyzed. model of employment of women (men as well), which was formed in Soviet years, has not undergone significant changes during the years of economic reforms. Expanding the accessibility of formal social security programs to the elderly has changed the behavior of this population in the labor market. Women do not receive social old-age pensions in the same amount as men,...

December 11, 2017
Articles, Labor Market, Pension design, Slider-Left, , ,
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