Financial Literacy and Retirement Planning in Sweden

29 Pages Posted: 15 Apr 2011

See all articles by Johan Almenberg

Johan Almenberg

affiliation not provided to SSRN

Jenny Säve-Söderbergh

Stockholm University - Swedish Institute for Social Research (SOFI)

Date Written: January 1, 2011

Abstract

We examine the relationship between financial literacy and retirement planning in a representative sample of Swedish adults. We find significant differences in financial literacy between planners and non-planners. Financial literacy levels are also lower among older people, women and those with low education or earnings. When we control for demographic variables we do not find an association between a narrow measure of financial literacy and planning, but with a broader measure the association is positive and statistically significant. We relate these findings to features of the Swedish pension system.

Keywords: financial literacy, pensions, planning

JEL Classification: D10, H55, H75, I22

Suggested Citation

Almenberg, Johan and Säve-Söderbergh, Jenny, Financial Literacy and Retirement Planning in Sweden (January 1, 2011). Netspar Discussion Paper No. 01/2011-018, Available at SSRN: https://ssrn.com/abstract=1809736 or http://dx.doi.org/10.2139/ssrn.1809736

Johan Almenberg (Contact Author)

affiliation not provided to SSRN

Jenny Säve-Söderbergh

Stockholm University - Swedish Institute for Social Research (SOFI) ( email )

Universitetsvägen 10 F
SE-106 91 Stockholm
Sweden

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