Seminar - Professor Ian Tonks: Savings and Retirement - A Cross-European Comparison
CREA is currently using data from the SLP to examine whether Singaporeans are financially prepared for their retirement. As a point of comparison, Professor Ian Tonks will present recent evidence examining whether changes to government pensions influence the retirement behaviour of private citizens.
Since 2001, several European governments have introduced pension reforms aimed at increasing the participation rate in private pension funds (e.g., NEST in the UK in 2012) while reducing the public benefits to future retirees. Using a cross-European database, our recent paper finds some evidence that expectations of reduced public pension expenditures have been associated with a "crowding-in" of private savings.
A copy of the slides presented at Professor Tonks' seminar is available here.
Ian Tonks is a Professor of Finance in the School of Management at the Univesity of Bath. His research fouses on pension economics; fund manager performance; directors' trading; and market microstructure. He has published in leading finance, economics, accounting and management journals, and teaches across all areas of financial economics including asset pricing, corporate finance, market efficiency and performance measurement.