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    How Well-Informed Are Pension Scheme Members on Their Future Pension Benefits? Evidence from Ireland


    Barrett, Alan and Mosca, Irene and Whelan, Brendan (2015) How Well-Informed Are Pension Scheme Members on Their Future Pension Benefits? Evidence from Ireland. Journal of Aging & Social Policy, 27 (4). pp. 295-313. ISSN 0895-9420

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    Abstract

    One part of the policy response in many countries to increasing pension coverage will be greater private provision on the part of individuals. This requires that individuals are well informed about pensions. In this article, we assess levels of knowledge of pensions using a representative sample of older Irish adults. We find that two-thirds of individuals enrolled in pension schemes do not know what amount will be paid out on retirement and/or whether the payments will be in the form of lump sums, monthly payments, or both. One policy implication is the need for increased information to be directed at certain groups, in particular, women and less educated people. More fundamentally, the results suggest that the mandatory elements in pension systems should be extended

    Item Type: Article
    Keywords: knowledge; older workers; pensions;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 11384
    Identification Number: https://doi.org/10.1080/08959420.2015.1044817
    Depositing User: Irene Mosca
    Date Deposited: 18 Oct 2019 10:24
    Journal or Publication Title: Journal of Aging & Social Policy
    Publisher: Taylor & Francis (Routledge)
    Refereed: Yes
    URI:

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