The increasing personal responsibility in retirement provision poses a challenge for many households. Research has shown that especially people with low levels of education, income, and financial knowledge have difficulties to plan for their retirement appropriately. They have, for example, fewer private pension contracts than people with more education and income. Therefore, these groups are threatened with an increased risk of old-age poverty. This research project deals with the question of how individuals can be motivated to deal with their financial situation in old age in order to create awareness of possible gaps in retirement pension provision. The aim of the project is to identify the groups of people for which certain information displays are best suited in order to encourage them to plan for their retirement. Research has shown that the way in which information is presented, e.g. individualization of cover letters (tailoring) and various incentive systems, can have an important influence on people’s behavior. With the support of the Joachim Herz Foundation, a field experiment on the topic of pension planning will be conducted in 2021.


Joachim Herz Stiftung , Hamburg , DE

Project duration

01.11.2020 - 31.01.2023


Project members

Caroline Knebel (Coordinator)