: We report the results of two laboratory experiments that study how university student and staff participants chose retirement savings investment options using ‘user-friendly’ information prescribed by regulators. We demonstrate that choices of more than 20% of participants cannot be...

Faced with an ageing population, governments are shifting the financial responsibility for retirement to their citizens. Employers, too, are shifting this responsibility to employees, with most now offering defined-contribution retirement plans. Yet it is widely acknowledged that consumers do...

type="main" xml:id="ecor12107-abs-0001" <p>Low levels of non-default decision-making among superannuation members in Australia are assumed to be evidence of a lack of interest and capability. Using member records and survey data from a large Australian superannuation fund, we test the relationship...</p>

We report the results of two laboratory experiments that study how university student and staff participants chose retirement savings investment options using ‘user-friendly' information prescribed by regulators. We demonstrate that choices of more than 20% of participants cannot be predicted...

Retirement saving is an area now jam-packed with defaults meant to address delayed or absent decision making. Yet, getting individuals engaged with retirement saving decisions is critical to avoid unsuitable one-size-fits-all defaults and optimise accumulated wealth. We apply a...

Low levels of non-default decision making among superannuation members in Australia are assumed to be evidence of lack of interest and capability. Using member records and survey data from a large Australian superannuation fund we test the relationship between attitudes towards retirement...

Simplified disclosures can make comparisons between complex financial products easier, and increase consumer expertise. We use incentivized experiments to investigate whether and to what extent simpler information on fees and investment returns assists retirement plan members to make competent...