English title: What drives retirement income worries in Europe? A multilevel analysis

Author(s): Douglas Hershey - Kene Henkens - Hendrick Van Dalen -

Language: English

Type: Journal article

Year: 2010


Nations in Europe have been developing rapidly since the formation of the European Union (EU), not only socially and demographically, but economically as well. One question a number of countries will face during this period of structural transition will be how (and how well) they are able to support their citizens in old age. A related question involves whether individuals worry about their financial future in retirement, and the extent to which they take active steps to save in order to ensure an adequate standard of living. In this study, we analyze data from the third wave of the European Social Survey, which represents 21,416 working adults from 23 countries in Europe. We used multilevel modeling to focus on the explanatory factors that underlie individual and country-level effects in worry about future retirement income and saving behavior. Findings suggest that once individual-level dimensions are taken into account, country-level predictors explain appreciable variance in worry, but not saving practices.

Volume: 7

Issue: 4

From page no: 301

To page no: 311

Refereed: Yes

DOI: 10.1007/S10433-010-0167-Z

Journal: European Journal of Aging

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