Determinants of the Europeans’ Retirement Savings
23 Pages Posted: 20 Dec 2009
Date Written: November 3, 2009
We analyze the determinants of Europeans' retirement savings' for a sample of 4,526 individuals in 8 European countries. Our results show that the driving forces of the decision of saving for retirement are quite similar. This decision is positively related to the individuals' age, financial literacy, household income, employment status and saving habit. In addition, the results suggest that country-level institutional factors also play a crucial role on the individual’s retirement attitudes.
Keywords: retirement savings, financial literacy, Europe
JEL Classification: G23, G18
Suggested Citation: Suggested Citation