Sandra Castro?González|Lucía Rey?Ares|Sara Fernández López|Djamila Daoudi
The effect of self-control upon participation in voluntary pension schemes
Universidade de Santiago de Compostela|Universidade da Coruña|Universidade de Santiago de Compostela|Universidade da Coruña|Universidade de Santiago de Compostela|Universidade da Coruña|Universidade de Santiago de Compostela|Universidade da Coruña
population ageing together recent economic downturn aftermath giving considerable cause concern regards future sustainability public pension systemsvoluntary pension schemes emerge alternative supplement public pension pillar therefore understanding individuals make financial decisions participating voluntary pension schemes becomes question key importancethere growing literature aimed analysing issue studies date analysed effect behavioural traits participation voluntary pension schemesparticularly analysis effect selfcontrol financial decision aim paperbased data international survey adult financial literacy paper analyses probit regression models effect financial selfcontrol besides control variables eg gender holding financial assets retirement savingsempirical evidence reveals higher levels financial selfcontrol positively associated saving retirementmoreover variable considered statistically significant effect driving forces traditionally highlighted previous literature disappearstherefore empirical evidence supports need consider behavioural issues explaining individuals financial decisions