The main task of this dissertation project was to investigate the reasons for differences between women and men's retirement savings. The goal was to identify specific areas where actions in terms of changing the current conditions could be suggested. As a starting point an analysis of the broad structural regulations of the Danish market in relation to occupational conditions, women's choices about career, motherhood, reduced working hours, financial advisory and behaviors related to saving for retirement was conducted. Also it was investigated, whether the existing culture/social norms and/or biological factors could be concluded to play a role in this matter. Based on the analysis performed on the structural/social/biological level an analysis on the individual level and the conditions that specifically apply in relation to women and their involvement in retirement savings was conducted. To identify the main issues in relation to the subject a qualitative analysis initially was conducted, which included both focus group interviews and individual interviews. This revealed a generally negative attitude towards involvement in retirement savings, and a theoretical framework was established on this background in order to analyze this further. A value - attitude - behavior model with the Theory of Planned Behavior (TPB) by Fishbein and Ajzen, was selected as a theoretical basis for this analysis. An electronic-based quantitative analysis, primarily among women (a limited number of male respondents were included in the analysis, in order to be able to compare the results between the groups) was conducted. In order to examine whether the underlying personal values affected the formation of attitude regarding involvement in retirement savings personal values were measured by the Schwartz Value Theory. Further the degree of Knowlegde Calibration (KC) among the respondens was measured in order to investigate how much they actually knew about retirement savings as opposed what they thought they knew, to investigate the possible impact of this. The collected quantitative data were then analyzed by structural equation modeling using EQS. The analysis showed that Perceived Behavioral Control had significant impact on the involvement in pensions for women, while attitudes to involvement in retirement savings were significant in relation to involvement in pensions for men.
|Educations||MSc in Economics and Marketing, (Graduate Programme) Final Thesis|
|Number of pages||189|