Retirement policy and saving behavior

Research output: A Conference proceeding or a Chapter in BookChapterpeer-review

Abstract

With the aging of populations and mounting pressures on public pensions systems for state benefits, many retirees are experiencing financial hardship, and this has prompted the need for retirement reform. This chapter aims to understand the role of retirement policies in the retirement savings behavior of individuals. A literature review on mandatory and delayed retirement policies is provided. Research literature on active aging policies is then analyzed. The implications of these policies, particularly on the lives and livelihoods of vulnerable consumers, are examined. The literature review uncovers three key themes: the influence of policy illiteracy on savings outcomes, the lack of age inclusivity in occupational schemes, and the persistence of gender bias in retirement policies. Future research directions are offered relating to policy implications for improved savings outcomes. Potential research questions include examining the extent to which retirement policies influence individuals’ retirement savings time horizons and savings trajectories.
Original languageEnglish
Title of host publicationA Research Agenda for Consumer Financial Behavior
EditorsJing Xiao, Satish Kumar
PublisherEdward Elgar Publishing
Chapter12
Pages157–169
Number of pages13
ISBN (Electronic)9781803922652
ISBN (Print)9781803922645
DOIs
Publication statusPublished - 15 Jun 2023

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