Financial Education in Europe

Trends and Recent Developments

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This publication provides an overview of the recent trends and developments in financial education policies and programmes in Europe.  It describes the status of national strategies for financial education and various financial education programmes targeting a variety of audiences and through a variety of delivery channels. Based on the analysis of these initiatives, the report offers policy and practical suggestions for European policy makers and other stakeholders.


Foreword and acknowledgements

Constant evolution in the financial, economic, demographic and policy landscape, as well as gradual risk transfers to individuals, has turned financial literacy into a key life skill in today’s societies. New and often complex financial products are being developed by financial service providers and new market players. This gives consumers, investors and small businesses greater access to a variety of payment solutions, credit offers and long-term savings and investment instruments. At the same time, individuals have to bear responsibility for a widening range of risks stemming from an uncertain economic and financial environment and shrinking welfare systems. These risks encompass job losses, unpredictable returns on investment, increasing life expectancy and related health risks. The impact of increasing life expectancy on an individual’s responsibility to save for retirement is compounded in many countries by pension reforms resulting in a shift from Pay-As-You-Go to funded systems and from Defined Benefit to Defined Contribution systems.


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