| Abstract [eng] |
The dissertation examines the retirement saving behaviour of Lithuanian households. The dissertation topic pertains to demographic changes in society, the well-being of elderly individuals, and long-term household saving. The study aims to identify the main factors that influence the retirement saving behaviour of Lithuanian households. The theoretical part of the dissertation provides a literature review and an analysis of the research and pension systems related to the topic. The methodological section describes the data sources, data collection methods and presents hypotheses and research models. The dissertation utilizes three data sources: The Household Finance and Consumption Survey (HFCS), The European Survey of Health, Aging, and Retirement (SHARE), and surveys conducted by the Central Bank of Lithuania from 2013 to 2020. The findings indicate that approximately half of Lithuanian households save voluntarily for retirement. The assumptions of traditional economic theory are partially confirmed, as the saving behaviour of Lithuanian households is influenced by income, age, and wealth. However, the assumption of the life cycle hypothesis that households stop saving after retirement was not supported. Furthermore, the study establishes that financial literacy and long-term financial planning have a positive impact on the retirement saving behaviour of Lithuanian households. It also reveals that personality traits such as awareness and openness to experience positively influence the saving for retirement behaviour. |
