The role of pension knowledge in voluntary pension and banking savings in Chile

Purpose In an era of increasing financial vulnerability, people are not saving enough to either fund their future pension benefits or having precautionary savings. The authors propose that pension knowledge makes people increase their probability of having voluntary pension and banking savings. Design/methodology/approach The authors use the social protection survey in Chile, a unique set of panel data for affiliates in 2006 and 2009. First, the...