IAFEI Quarterly - 32nd Issue

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In sum, the recent studies of Delaney and Lades (2015).
Goda et al (2015) and Beshears et al (2015) provide
good initial evaluations to address these questions to
better inform policymaking in the context of retirement
savings.
2. Conclusions
Increasing the illiquidity pension schemes may not
increase aggregate contributions because only one
segment of the population has the desire for strict
commitment in order to stick with a previous decided
plan. This highlights the need for further developments
to deal with innocent unsophistication of the naïve
group. Enhancing financial literacy and the access to
professional advice can be potential complementary
mechanisms.
References
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Beshears, J; Choi, J; Harris, C; Laibson, D; Madrian, B;
Sakong, J. (2015). Self Control and Commitment: Can
Decreasing the Liquidity of Savings Account Increase
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Delaney, L; Lades, L. (2015). Present Bias and Everyday
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