Gender, financial literacy and pension savings

Preston, A. and Wright, R. E. (2023) Gender, financial literacy and pension savings. Economic Record, 99(324), pp. 58-83. (doi: 10.1111/1475-4932.12708)

Abstract

The relationship between the gender gap in financial literacy and pension savings is examined in this paper. In Australia, individuals have considerable discretion with respect to how their pension savings are managed. We argue that financial literacy should have a positive impact on the profitability of these decisions. Analysis based on micro-data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey suggests that a sizable share of the gender gap in pension savings can be attributed to the gender gap in financial literacy. Therefore, policies aimed at improving the financial literacy of women should help improve the living standards of women in retirement.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Wright, Dr Robert
• Authors: Preston, A., and Wright, R. E.
• College/School: College of Social Sciences > Adam Smith Business School; College of Social Sciences > School of Education
• Journal Name: Economic Record
• Publisher: Wiley
• ISSN: 0013-0249
• ISSN (Online): 1475-4932
• Published Online: 12 December 2022
• Copyright Holders: Copyright © 2022 The Authors
• First Published: First published in Economic Record 99(324): 58-83
• Publisher Policy: Reproduced under a Creative Commons License