TY  - UNPD
A1  - Bucher-Koenen, Tabea
A1  - Hackethal, Andreas
A1  - Kasinger, Johannes
A1  - Laudenbach, Christine
T1  - Disparities in financial literacy, pension planning, and saving behavior
T2  - SAFE working paper ; No. 362
N2  - Financial literacy affects wealth accumulation, and pension planning plays a key role in this relationship. In a large field experiment, we employ a digital pension aggregation tool to confront a treatment group with a simplified overview of their current pension claims across all pillars of the pension system. We combine survey and administrative bank data to measure the effects on actual saving behavior. Access to the tool decreases pension uncertainty for treated individuals. Average savings increase - especially for the financially less literate. We conclude that simplification of pension information can potentially reduce disparities in pension planning and savings behavior.
T3  - SAFE working paper - 362 
KW  - saving behavior
KW  - retirement planning
KW  - digital planning tool
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/68901
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-689015
UR  - https://ssrn.com/abstract=4260867
N1  - Financial support from the Leibniz Institute for Financial Research SAFE is gratefully acknowledged.
N1  - Weitere JEL-Klassifikationen: G51, G53.
IS  - September 2, 2022
PB  - SAFE
CY  - Frankfurt am Main
ER  -