Saving for Old Age During COVID-19 Pandemic

Abstract

The COVID-19 pandemic has significantly altered the economic landscape, presenting new challenges and considerations for saving for old age. This paper examines the impact of the pandemic on retirement savings patterns and financial behaviors, drawing on data from multiple countries. Specifically, we use the Global Findex database. Our findings reveal that the pandemic has generated pervasive shifts in saving behavior. The study explores how COVID-19 affected old age savings through various channels, including lockdowns and other pandemic-related measures, behavioral changes, shifts in beliefs, and alterations in perceived and actual longevity.

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