The authors examine the association of financial literacy with retirement planning in Russia, a country with a relatively old and rapidly aging population, large regional disparities, and a rapidly emerging financial market. They find that only 36.3 percent of respondents in the sample understand interest compounding and only half can answer a simple question about inflation. In a country with widespread public pension provisions, they find that financial...
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INFORMATION
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2011/10/01
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Document de travail de recherche sur les politiques
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WPS5827
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1
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1
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2011/10/01
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Disclosed
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Financial literacy and retirement planning : the Russian case
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private pension fund
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