Journal article

Experience of financial challenges, retirement concerns and planning: evidence from representative samples of workers in 16 countries

Abstract:: We examine whether an individual's inability to save in the last 12 months affects the extent to which they are concerned about their future financial security and their propensity to plan for retirement. We use an original survey based upon representative samples of working individuals in 16 countries. We show that individuals who were unable to save over the 12-month period prior to the survey are less likely to consider well-being in retirement as their major financial concern. They are also less likely to invest in supplementary pension funds than those who were able to accumulate savings. We provide evidence that these findings are robust under several specifications and are mediated by respondents' perceived income prospects and assessment of their current financial situations.

Publication status:: Published

Peer review status:: Peer reviewed

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APA Style

Innocenti, S., Clark, G. L., & McGill, S. (2023). Experience of financial challenges, retirement concerns and planning: evidence from representative samples of workers in 16 countries. Journal of Pension Economics and Finance, 23(2), 183–201.

MLA Style

Innocenti, S., et al. “Experience of Financial Challenges, Retirement Concerns and Planning: Evidence from Representative Samples of Workers in 16 Countries.” Journal of Pension Economics and Finance, vol. 23, no. 2, Cambridge University Press, 2023, pp. 183–201.

Chicago Style

Innocenti, S, GL Clark, and S McGill. 2023. “Experience of Financial Challenges, Retirement Concerns and Planning: Evidence from Representative Samples of Workers in 16 Countries.” Journal of Pension Economics and Finance 23 (2): 183–201.
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Files:: Innocenti_et_al_2023_Experience_of_financial.pdf

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Publisher copy:: 10.1017/S1474747223000082

Authors

+ Innocenti, S More by this author

Institution:: University of Oxford
Division:: SSD
Department:: SOGE
Sub department:: Smith School
Role:: Author
ORCID:: 0000-0001-7926-0961

+ Clark, GL More by this author

Institution:: University of Oxford
Division:: SSD
Department:: SOGE
Sub department:: Smith School
Role:: Author
ORCID:: 0000-0003-3159-7674

+ McGill, S More by this author

Institution:: University of Oxford
Division:: GLAM
Department:: Research and Learning Support
Research group:: Research Services
Role:: Author

Publisher:: Cambridge University Press
Journal:: Journal of Pension Economics and Finance More from this journal
Volume:: 23
Issue:: 2
Pages:: 183-201
Publication date:: 2023-06-19
Acceptance date:: 2023-04-23
DOI:: 10.1017/S1474747223000082
EISSN:: 1475-3022
ISSN:: 1474-7472

Language:: English
Keywords:: private pension insurance

experience

G51

G41

financial challenges

D14

retirement planning

J32
Pubs id:: 1339910
Local pid:: pubs:1339910
Deposit date:: 2023-05-06

Terms of use

Copyright holder:: Innocenti et al
Copyright date:: 2023
Rights statement:: © The Author(s), 2023. Published by Cambridge University Press. This is an Open Access article, distributed under the terms of the Creative Commons Attribution licence (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted re-use, distribution and reproduction, provided the original article is properly cited.

Licence:: CC Attribution (CC BY)

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