What you don't know can't help you: pension knowledge and retirement decision making

Arbeitspapier

This paper provides an answer to an important empirical puzzle in the retirement literature: while most people know little about their own pension plans, retirement behavior is strongly affected by pension incentives. We combine administrative and self-reported pension data to measure the retirement response to actual and perceived financial incentives. While virtually all recent empirical work has relied on administrative- or employer-reported data, we document an important role for self-reported pension data in determining retirement behavior. Well-informed individuals are five times more responsive to pension incentives than the average. In contrast, ill-informed individuals respond to their own misperceptions of the incentives rather than being unresponsive to any measured incentives.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 05-18

Klassifikation und Themen

• Klassifikation: Wirtschaft

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Stevens, Ann Huff ; Chan, Sewin
• Ereignis: Veröffentlichung
• (wer): University of California, Department of Economics
• (wo): Davis, CA
• (wann): 2005

Weitere Informationen

• Handle: http://hdl.handle.net/10419/31390
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ