The Relevance of Financial Education for Retirement Savings Behaviour

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Ntalianis, Michael and Wise, Victoria (2010) The Relevance of Financial Education for Retirement Savings Behaviour. International Review of Business Research Papers, 6 (1). pp. 631-645. ISSN 1837-5685 (print) 1832-9543 (online)


This paper was motivated by the growing literature that suggests that individuals fail to conform to rational economic behaviour when it comes to saving for retirement. A review of the relevant literature confirmed that many individuals fail to save for retirement in a rational way as prescribed by the Modigliani and Brumberg (1954) economic life-cycle model. Numerous studies show that many individuals exhibit irrational behaviour when it comes to planning and saving for retirement. The literature review identified that exposure to financial education programs can positively influence the planning and savings behaviour of retirement fund members.

Item type Article
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Subjects Historical > Faculty/School/Research Centre/Department > School of Accounting
Historical > FOR Classification > 1502 Banking, Finance and Investment
Historical > SEO Classification > 9001 Financial Services
Keywords ResPubID20559, financial education programs, retirement planning, retirement savings
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