Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/272385 
Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 15758
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We conduct a randomized controlled trial to understand how a web-based retirement saving calculator affects workers' retirement-savings decisions. In both conditions, the calculator projects workers' retirement income goal. In the treatment condition, it also projects retirement income based on defined-contribution savings, prominently displays the gap between projected goal and actual retirement income, and allows users to interactively explore how alternative, future contribution choices would affect the gap. The treatment increased average annual retirement contributions by $174 (2.3 percent). However, effects were larger for those with greater financial knowledge, suggesting this type of tool complements, rather than substitutes for, underlying financial capability.
Schlagwörter: 
retirement planning
retirement saving
exponential-growth bias
present bias
financial literacy
financial capability
JEL: 
D14
G53
J32
Dokumentart: 
Working Paper

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