Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers

H.P. van Dalen, K. Henkens, D.A. Hershey

Research output: Working paperDiscussion paperOther research output

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Abstract

Are retirement savings sufficient to finance a good pension income? This highly uncertain and subjective dimension of life cycle decision making is assessed among married working individuals using an identical survey distributed to Dutch and American workers in 2007. Despite marked differences in expected and needed pension replacement rates - where the Dutch replacement rates are systematically higher than the American rates - the perceived savings adequacy is more or less the same across Dutch and American workers. Moreover, individuals’ perceived savings adequacy was found to be influenced by the three groups of factors: institutional forces, social forces and psychological dispositions. This study shows that differences in the mind set of American workers plays a far larger role in explaining differences in perceptions of savings adequacy than it does in the Netherlands.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages35
Volume2008-58
Publication statusPublished - 2008

Publication series

NameCentER Discussion Paper
Volume2008-58

Fingerprint

Adequacy
Workers
Pensions
Savings
Replacement rate
Finance
Retirement saving
Mindset
Psychological
Income
Disposition
Life cycle
Decision making
Institutional factors
The Netherlands

Keywords

  • retirement
  • savings
  • planning
  • pension funds

Cite this

van Dalen, H. P., Henkens, K., & Hershey, D. A. (2008). Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers. (CentER Discussion Paper; Vol. 2008-58). Tilburg: Macroeconomics.
van Dalen, H.P. ; Henkens, K. ; Hershey, D.A. / Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers. Tilburg : Macroeconomics, 2008. (CentER Discussion Paper).
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van Dalen, HP, Henkens, K & Hershey, DA 2008 'Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers' CentER Discussion Paper, vol. 2008-58, Macroeconomics, Tilburg.

Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers. / van Dalen, H.P.; Henkens, K.; Hershey, D.A.

Tilburg : Macroeconomics, 2008. (CentER Discussion Paper; Vol. 2008-58).

Research output: Working paperDiscussion paperOther research output

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van Dalen HP, Henkens K, Hershey DA. Are Pension Savings sufficient? Perceptions and Expectations of American and Dutch Workers. Tilburg: Macroeconomics. 2008. (CentER Discussion Paper).