Panu Kalmi|Olli?Pekka Ruuskanen
Financial literacy and retirement planning in Finland
University of Vaasa|Tampere University
abstract paper presents results first study financial literacy finland explores relationship financial literacy retirement planning finland finland interesting case countervailing effects may exist high level education might increase financial literacy high provision social security may decrease weaken relationship pension planning results indicate level financial literacy finland comparatively high although unequally distributed among population respect pension planning find little evidence relationship three core financial literacy questions retirement planning however statistically significant positive relationship exists retirement planning extended measure financial literacy consisting mostly demanding questions split sample gender find evidence positive relationship financial literacy retirement planning among women among men results indicate scaling publicly guaranteed pension benefits may pose challenge less financially literate segment population