“Financial security at an older age: What do we need to prepare for” is part of an event series organized by the European Banking Federation (EBF) during the European Money Week (March 22 – March 27) which celebrates financial education and raises awareness about money and personal finances. This year’s theme, ‘counting everyone in’, highlights the importance of including all social groups in financial education efforts, with a special focus on the elderly, women and youth.
Longer life expectancy together with evolving pension and social welfare systems means Europeans today must consider different things when planning their retirement than the previous generations. New study on retirement and debt in the US by professors Olivia S. Mitchell and Annamaria Lusardi reveals worrying new patterns for those near or in retirement. In particular, debt appears to follow individuals way past their working years.
This session will offer an overview of the US study findings, take stock of the retirement landscape in Europe and explore the need for research on later life debt in the region.