Title: Determinants of young generation retirement planning behaviour - the case of Czechia

Authors: Richard Pospíšil; Ondřej Kročil; Tomáš Sadílek

Addresses: Department of Economic and Managerial Studies, Faculty of Arts, Palacký University Olomouc, Křížkovského 511/8, 771-47, Olomouc, Czechia ' Department of Economic and Managerial Studies, Faculty of Arts, Palacký University Olomouc, Křížkovského 511/8, 771-47, Olomouc, Czechia ' Department of International Business, Faculty of International Relations, Prague University of Economics and Business, W. Churchill Sq. 4, 130-67, Prague 3, Czechia

Abstract: The topic of retirement planning behaviour has been discussed in a large number of scientific articles in recent years. The main aim of this paper is to examine the relationship among retirement planning intention, knowledge of pension system, perceived importance of pension situation, year of study, gender, university type, and risk-taking behaviour among Czech university students. Data were collected from 570 university students from two Czech universities with different study programs. Binary logistic stepwise regression was employed to test the hypotheses. On the one hand, the findings show that male Czech students have more positive attitudes towards risk than female Czech students when we talk about the selection of financial products for their retirement securing. On the other hand, our findings are not in line with the results of other studies on the influence of knowledge of the pension system and the perceived importance of the pension situation. We found out that the relationship between these variables and retirement planning intention is very specific in the case of Czech university students because it shows negative dependence.

Keywords: pension system; retirement planning; risk-taking behaviour; RTB; university students; Czechia.

DOI: 10.1504/IJEPEE.2023.135524

International Journal of Economic Policy in Emerging Economies, 2023 Vol.18 No.2, pp.219 - 234

Received: 27 Feb 2021
Accepted: 20 Sep 2021
Published online: 18 Dec 2023 *

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