FINANCIAL LITERACY by Olivia S. Mitchell (Editor), Annamaria Lusardi (Editor) ( 9780199696819 )

Item Details

Title:

FINANCIAL LITERACY
IMPLICATIONS FOR RETIREMENT SECURITY AND THE FINANCIAL MARKETPLACE

By:

Olivia S. Mitchell (Editor), Annamaria Lusardi (Editor)

Format:

Hardback

List price:

£100.00

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£87.50

Discount:

12.5% off

You save:

£12.50

ISBN 10:

0199696810

ISBN 13:

9780199696819

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Publisher:

OXFORD UNIVERSITY PRESS

Pub. date:

27 October, 2011

Series:

Pensions Research Council

Pages:

328

Description:

As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, the book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.

Synopsis:

As financial markets grow ever more complex and integrated, households must make increasingly sophisticated and all-too-often irreversible economic decisions. This is particularly evident in retirement decision-making. Traditional defined benefit pension schemes are being replaced with defined contribution pensions; employer and government judgment regarding how much to save and where to invest has been replaced by employees having to make these choices on their own (sometimes assisted by advisers); and retirees have become responsible for managing their own pension assets. This volume explores how financial literacy can enhance peoples' ability to make informed economic choices. It proposes that financial literacy determines how well people make and execute saving, investing, borrowing, and planning decisions. It examines causality using controlled settings to disentangle whether financial literacy causes saving or vice versa, and demonstrates that financial education programs do indeed enhance financial decision-making and asset accumulation.

Publication:

Imprint:

Oxford University Press

Returns:

Returnable

Some other items by this author:

BENEFITS FOR THE WORKPLACE OF THE FUTURE (HB)

FINANCIAL DECISION MAKING AND RETIREMENT SECURITY IN AN AGING WORLD (HB)

INNOVATIONS IN RETIREMENT FINANCING (HB)

LIVING WITH DEFINED CONTRIBUTION PENSIONS (HB)

OVERCOMING THE SAVING SLUMP (HB)

PENSION DESIGN AND STRUCTURE (HB)