New Findings from University of Milano-Bicocca Describe Advances in Bank Marketing (University students and retirement planning: never too early)

2019 OCT 28 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- A new study on Marketing - Bank Marketing is now available. According to news reporting from Milan, Italy, by NewsRx journalists, research stated, “The purpose of this paper is to investigate the main predictors of university students’ intention to invest in a pension fund: an understanding of how young people perceive retirement planning is relevant for its policy implications. Design/methodology/approach - The authors apply the theory of planned behaviour (TPB) proposed by Ajzen (1985) which explains how human behaviour is guided, and provides a framework to explore the underlying beliefs that affect one’s behaviours.”

The news correspondents obtained a quote from the research from the University of Milano-Bicocca, “The evidence on a sample of Italian university students highlights that the TPB predictors, pension knowledge, money management and the highest level of financial literacy, positively influence their intention to invest in a pension fund. Research limitations/implications - Although the authors are aware of the limitations of the analysis (limited to a specific country and to a specific financial product), the authors believe that the study has the merit of offering a number of ideas for further research. In fact, there are few contributions in the literature that identify the intention of young people to save for retirement. The study sheds light on this important issue. However, because it is limited to Italian university students, its findings cannot be generalised. Practical implications - The study can be used by regulators, financial educators, counsellors and public institutions to increase the propensity of young people to plan for their future and guide them towards attitudes and behaviours most likely to increase their savings for retirement. Social implications - The evidence suggests that regulators, institutions and educators should improve the information that is provided to families first and to the younger generations - at school, for instance - about the functioning of the pension system. The survey’s findings emphasise that university students are generally unaware of the many reforms to the system while believing that their state pensions will be sufficient to maintain a retirement standard of living that is the same as the standard of living achieved during their working lives. Originality/value - In the authors’ knowledge, there are not studies that focus on the youngs’ intention to invest in a pension fund.”

According to the news reporters, the research concluded: “The authors believe that millennials are the most hitted by the Fornero’s reform and understand which predictors affect this intention can allow to drive the decision in investing in these important financial tools.”

For more information on this research see: University students and retirement planning: never too early. International Journal of Bank Marketing, 2019;37(3):775-797. International Journal of Bank Marketing can be contacted at: Emerald Group Publishing Ltd, Howard House, Wagon Lane, Bingley BD16 1WA, W Yorkshire, England. (Emerald Group Publishing - www.emeraldinsight.com; International Journal of Bank Marketing - http://www.emeraldinsight.com/journals.htm?issn=0265-2323)

Our news journalists report that additional information may be obtained by contacting D. Cucinelli, University of Milan, Milan, Italy.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1108/ijbm-03-2018-0066. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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