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Zonder onderwerpscode: economie

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overheidsinformatie ; Nederland --- 328.18 <492> --- 316.773.33 --- Nederland --- 695 Communicatie --- 400 Overheid --- overheidscommunicatie --- 091.3 --- 316.773.33 Informatieve boodschap. Voorlichting--(communicatiesociologie) --- Informatieve boodschap. Voorlichting--(communicatiesociologie) --- 328.18 <492> Openbaarheid van bestuur. Overheidsdocumenten. Overheidsvoorlichting. Public relations en overheid--Nederland --- Openbaarheid van bestuur. Overheidsdocumenten. Overheidsvoorlichting. Public relations en overheid--Nederland --- overheidsvoorlichting --- Overheidscommunicatie --- Overheidsvoorlichting --- Praktijk --- Postbus 51 --- Voorlichtingscampagnes --- Arbeidsmarktcommunicatie --- Intranet --- Corporate communication --- #SBIB:309H253 --- #SBIB:35H502 --- Externe communicatie: non-profit-sector --- Bestuur en samenleving: overheidscommunicatie --- Voorlichtingsdienst --- Voorlichtingscampagne --- Vietnam --- Zuid-Afrika --- Kust --- Literatuur

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We present new evidence on financial literacy and retirement preparation in the Netherlands based on two surveys conducted before and after the onset of the financial crisis. We document that while financial knowledge did not increase from 2005 to 2010, significantly more individuals planned for their retirement in 2010. At the same time, employees' expectations about the level of their pension income are high compared to what retirement plans may realistically provide. However, financially knowledgeable employees report lower expected replacement rates and acknowledge higher levels of uncertainty. Moreover using instrumental variables estimates for financial knowledge, we find a positive effect of financial literacy on retirement preparation. Employing the panel feature of our dataset, we show that financial knowledge has a causal impact on retirement planning. Our findings suggest that the formation of pension expectations might be an important mechanism contributing to the impact of financial literacy on planning.

Zonder onderwerpscode: economie

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We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do not know the answer. In addition, women give themselves lower scores on financial literacy self-assessments than men. Both young and old women show low levels of financial literacy. Moreover, women for whom financial knowledge is likely to be very important--for example widows or single women--know little about concepts relevant for day-to-day financial decisions. Even women in favorable economic conditions are less financially knowledgeable than men. This is important because financial literacy has been linked to economic behavior, including retirement planning and wealth accumulation. Women live longer than men and are likely to spend time in widowhood. As a result, improving women's financial literacy is key to helping them prepare for retirement and promoting their financial security.

Zonder onderwerpscode: economie