The Effects of Pension Information on Individuals’ Economic Outcomes: A Survey

Abstract

This paper provides an overview of a wide array of research investigating the effects of pension information on different individuals’ economic outcomes. While many studies show that information provision increases knowledge, the evidence is mixed regarding its effects on behavior. Nevertheless, we draw some conclusions about the impact of pension information on three major economic outcomes, namely, retirement planning, choices pertaining individuals’ labor supply, and savings decisions. We also highlight that the lack of knowledge prevalently hits the most vulnerable individuals in the society, such as women. As a consequence, not providing sufficient information could contribute to widening the gender gap in pensions.

Kompetencje emerytalne polskich pracowników migrujących do państw objętych koordynacją systemów zabezpieczenia społecznego w Unii Europejskiej

“…Zdaniem Elsy Fornero, Noemi Oggero i Riccarda Puglisiego, to instytucje publiczne powinny dostarczać pracownikom informacji o publicznych świadczeniach emerytalnych 75 . Z analiz przeprowadzonych przez Stefanię Basiglio i Noemi Oggero wynika, że różnice w systemach emerytalnych państw UE mogą prowadzić do różnic w strategiach komunikacyjnych dotyczących emerytury 76 . Jednostronny test dla jednej proporcji wykorzystywany jest do weryfikacji hipotezy, że proporcja w populacji, z której pochodzi próba, to zadana wartość.…”

The inescapable behavioural economics of managing retirement in workforce planning: what is the ‘added value of work’?

“…The employee should understand the economic realities displayed in Figure 1 and assess for themselves where they sit in terms of the 'added economic value of work' at any point in time. This should then be balanced against other non-financial influences that motivate their desire to continue in work [8]. 'Know thyself' is as much an economic mantra as a Biblical/Delphic one.…”

Forecasting the Real Average Retirement Benefit in the United States Using Owa Operators

“…In this complex context, it is very important that citizens are provided with sufficient and recurrent retirement information (Basiglio & Oggero, 2020). For instance, individuals need to be aware of their future retirement income as accurately as possible and in real prices (Bongini & Cucinelli, 2019;O'Neill et al, 2017) so that they can properly plan their retirement and avoid a reduction in purchasing power.…”