Resumo

SANCHEZ-CAMPILLO, José; MORENO-HERRERO, Dolores  e  RODRIGUEZ MARTIN, José Antonio. EFFECT OF EDUCATION ON THE LEVEL OF CONTRIBUTIONS TO PRIVATE PENSION SCHEMES OF FAMILIES IN SPAIN. Innovar [online]. 2016, vol.26, n.62, pp.95-112. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v26n62.59391.

This paper addresses the effects of education in the financial behavior of Spanish families in relation to contracting of private pension plans. Various estimates of the probability of counting with pension plans and making contributions to these funds are made by using logit model and microdata from the Survey of Household Finances from the Bank of Spain for 2005. Results show that financial habits, rather than the level of education of the household head, are the drivers of voluntary participation in pension plans.

Clasificación JEL: H31, H55, I29.

Palavras-chave : Financial literacy; education; non-monetary effects; Logit; pension plans.

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