1887

Improving Financial Education Efficiency

OECD-Bank of Italy Symposium on Financial Literacy

image of Improving Financial Education Efficiency

This symposium proceedings examines three aspects of financial education: monitoring and evaluation, use of behavioral economics,  and financial literacy and defined contribution pension plans.

English

.

Auto-Enrolment in Private, Supplementary Pensions in Italy

This chapter discusses the Italian experience in developing its system of private, supplementary pensions, as a case study of the implementation of nation-wide auto-enrolment mechanisms; in the discussion, attention is devoted to pension awareness issues. The reasons for the limited success of auto-enrolment in Italy are summarised. Besides the importance of country-specific structural issues, the need for an overall, coherent, pension strategy is underlined, together with a consistent use of the different policy instruments available: not only in order to achieve the desired membership targets, but also as a prerequisite for effective awareness campaigns and education efforts. In addition, the chapter stresses the need for a balance of responsibilities between the individual, the State, and intermediate bodies (such as social partners), with appropriate default options that should back-up the individual when he/she is unable or unwilling to choose.

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error