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Pré-Publication, Document De Travail Année : 2017

Preparation for old age in France: The roles of preferences and expectations

Résumé

This study takes a unified approach to assess the roles of preferences and expectations on preparation for old age in France. Our sample is representative of the customers of a large notfor-profit insurance company (“mutuelle”) and contains 1231 individuals aged 50 year and above. We use information on the general feeling to prepare for old age, specific preparation activities in various domains (e.g. the purchase of long-term care insurance or home adaptation), risk and time attitudes, family and social altruism, and expected disability and longevity. Half of the sample reports preparing for old age. Time preference emerges as an important predictor of preparation: indeed, making plans in general increases preparation for old age by 8.5 percentage points. Family altruism is positively associated with preparation in the finances and housing domains, whereas social altruism is not. While risk attitudes and altruism matter for preparation for old age, their effect may be less systematic across outcomes than that of time preference. Individuals who expect to become disabled or to live longer are more likely to prepare for old age. Policies promoting healthy aging should include messages targeting present-oriented individuals and try to make people more future-oriented.
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Dates et versions

halshs-01489215 , version 1 (14-03-2017)
halshs-01489215 , version 2 (13-11-2017)

Identifiants

  • HAL Id : halshs-01489215 , version 1

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Bénédicte Apouey. Preparation for old age in France: The roles of preferences and expectations. 2017. ⟨halshs-01489215v1⟩
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