Do young generations save for retirement? Ensuring financial security of Gen Z and Gen Y

• DOI: 10.1016/j.jpolmod.2023.05.003
• Publication Date: 2023-05-23T20:02:17Z
• Authors: Xiaohong Xie; Magdalena Osińska; Małgorzata Szczep...
• Keywords: Retirement age; Binary logit model; Financial Security; Old Age Security

Concerns about the population aging and global trends to shift more responsibility for future retirement from state individual need policy planning increase youth's savings retirement. The study aims identify behavioral, financial, demographic, educational determinants of in two groups young adults with reference people aged 50-60. binary logit model pairwise comparison results showed that probability saving increases age fosters behavior among adults. observed differences allow formulation recommendations adapted preferences generations Z Y.