“Individual Behaviour with Respect to Retirement Saving”

Annual conference

14 October 2005

Fondazione Collegio Carlo Alberto – Moncalieri (TO)
In many European countries, the pension reforms of the last 10-15 years, reshaping social security in a way that has generally strengthened the correlation between contributions and benefits and created room for  pension funds, have greatly increased the area of workers’ discretionary choices, traditionally very limited in public pension schemes. Workers however – even in countries where the degree of freedom in retirement saving choices is higher – seem to make little use of their increased discretion as, in most cases, they let the default option apply. How important is the design of the default option in shaping pension reforms? How can individuals be educated to more active participation in planning their retirement saving? Trying to draw some lessons from the US experience, the CeRP conference – with the contribution by some of the most accomplished pension experts – dealt with the above issues, with a focus on Europe and Italy.



“The Importance of Default Options for Retirement Saving Outcomes: Evidence from the US”

Brigitte Madrian (Wharton School, University of Pennsylvania) PAPERPRESENTATION

“Planning, Financial Literacy and Savings”

Anna Maria Lusardi (Dartmouth College) PAPERPRESENTATION

“Mind the Gap: Incentives to Boost Retirement Saving”

Axel Börsch-Supan (MEA, Mannheim University)- PRESENTATION

“Rational or Behavioural Households? Investment in Information and Portfolio Performance”

Tullio Jappelli (University of Salerno) PAPERPRESENTATION

“Design Choices in Privatized Social-Security Systems: Learning from the Swedish Experience”

Henrik Cronqvist (Ohio State University) PAPERPRESENTATION

“Role and Limits of Financial Education to Boost Retirement Savings: Eastern Europe, and Beyond”

Robert Holzmann (World Bank) PAPERPRESENTATION

“The Impact of Misperceptions about Social Security on Saving and Well-Being”


“Patterns of Participation in Pension Funds of Italian Workers”

Elsa Fornero – Federica Teppa (CeRP) PRESENTATION

“Issues for the Over-55. Evidence from the Unicredit Survey”

Daniele Fano (Pioneer Investments) PRESENTATION


Financial support by Pioneer Investment is gratefully aknowledged.


Contact person: Silvia Maero
phone: 0039 011 6705040
fax:  0039 011 6705042