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Personal social environment as determinant of private pension planning

Lukas Kleinheinz et al.

Journal of Pension Economics and Finance2025https://doi.org/10.1017/s1474747225100097article
AJG 2ABDC B
Weight
0.50

Abstract

Following European pension reforms, the responsibility for old-age provision has increasingly shifted from the state to the individual. This study examines how behavioral norms and perceptions of parents’ or grandparents’ financial situation influence participation in the voluntary second pillar. Using survey data from two Italian provinces with high coverage of supplementary pension funds, the analysis shows that norms transmitted through family and friends strongly predict participation, whereas workplace norms matter only for women. Perceived financial hardship of older relatives increases both awareness of retirement planning and the likelihood of enrollment, underscoring the role of the social environment.

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https://doi.org/https://doi.org/10.1017/s1474747225100097

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@article{lukas2025,
  title        = {{Personal social environment as determinant of private pension planning}},
  author       = {Lukas Kleinheinz et al.},
  journal      = {Journal of Pension Economics and Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1017/s1474747225100097},
}

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Personal social environment as determinant of private pension planning

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.