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Centre for Policy on Ageing | |
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Stopping short
— why do so many consumers stop contributing to long-term savings policies? | | Author(s) | Sarah Smith |
| Corporate Author | Financial Services Authority - FSA |
| Publisher | Financial Services Authority - FSA, London, 2004 |
| Pages | 36 pp (FSA occasional paper, 21) |
| Source | Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. www.fsa.gov.uk |
| Keywords | Pensions ; Savings ; Preparation [retirement] ; Attitude ; Longitudinal surveys. |
| Annotation | Persistency of contributions to savings or pension schemes may indicate whether or not consumers are building up savings for the long term. This paper uses two information sources to examine some of the key drivers of persistency. The first is the aggregated information on persistency rates collected from financial providers by the Personal Investment Authority (PIA), and then the Financial Services Authority (FSA). This analysis looks at whether there are significant differences in lapse rates across different durations, products and distribution channels. The second uses evidence of persistency of pension contributions in the British Household Panel Survey (BHPS), a large dataset collecting information on a large sample of (the same) individuals since 1991. The advantage of this sample is that it collects detailed socio-economic and demographic information at the point of sale and when people stop making contributions. (RH). |
| Accession Number | CPA-040309212 B |
| Classmark | JJ: JDD: GA: DP: 3J |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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