Research in this area investigates the level of individuals’ wealth holdings, the extent to which they are split between housing, pensions, cash and other forms, and the factors that influence people to save (or not).
Research questions that have been looked at (or are the basis of ongoing work) include:
- Have individuals saved adequately for retirement? And, to the extent that some have not, why not?
What drives some people to save more than others? Is it different preferences (e.g. that some people are more patient than others)? Is it a different level of understanding about financial products (pensions, in particular)? Is it financial constraints earlier in life?