RT Journal Article
T1 The effect of self-control upon participation in voluntary pension schemes
A1 Castro-González, Sandra
A1 Rey-Ares, Lucía
A1 Fernández López, Sara
A1 Daoudi, Djamila
K1 Self-control
K1 Driving forces
K1 Saving for retirement
K1 OECD/INFE toolkit
K1 Spain
AB Population ageing, together with the recent economic downturn and its aftermath, are giving considerable cause for concern as regards the future sustainability of public pension systems. Voluntary pension schemes emerge here as an alternative to supplement the public pension pillar, and therefore, understanding how individuals make their financial decisions when participating in voluntary pension schemes becomes a question of key importance. There is a growing literature aimed at analysing this issue, but few studies to date have analysed the effect of behavioural traits on participation in voluntary pension schemes. Particularly, an analysis of the effect of self-control on this financial decision will be the aim of this paper. Based on data from the International Survey of Adult Financial Literacy, this paper analyses, through probit regression models, the effect of financial self-control, besides other control variables, e.g., gender, on the holding of financial assets for retirement savings. Empirical evidence reveals that higher levels of financial self-control are positively associated with saving for retirement. Moreover, when this variable is considered, the statistically significant effect of other driving forces traditionally highlighted by previous literature disappears. Therefore, our empirical evidence supports the need to consider behavioural issues in explaining individuals’ financial decisions.
PB Center Sociological Research
SN 2071-789X
YR 2020
FD 2020
LK http://hdl.handle.net/10347/21791
UL http://hdl.handle.net/10347/21791
LA eng
NO Castro-González, S., Rey-Ares, L., Fernández-López, S., & Daoudi, D. (2020). The effect of self-control upon participation in voluntary pension schemes. Economics and Sociology, 13(1), 11-23
DS Minerva
RD 27 abr 2026