Non-cognitive and contextual factors in retirement related behaviours

This is a Centre for Decision Research (CDR) Seminar taking place at Leeds University Business School on Wednesday 17 January 2018

Non-cognitive and contextual factors in retirement related behaviours

Luuk Perik, Researcher at Maastricht University School of Business and Economics, will be delivering the ninth presentation in the Centre for Decision Research's 2017/18 seminar series. 

Nowadays, it becomes even more crucial for pension plan participants to engage with retirement planning. One of the main reasons is the current shift from defined benefit plans to defined contribution plans worldwide, increasing the risk and responsibility faced by individuals. However, especially for those pension plan participants for whom retirement is still far away, the topic of retirement is not high on the agenda. Therefore, both informing oneself about pensions as well as taking appropriate action is often lacking.

Luuk Perik and colleagues study how the former is a function of cognitive versus non-cognitive factors. The literature states that cognitive factors such as financial literacy are not a main driver of retirement related behaviours. But, when it comes to those behaviours, less in known about non-cognitive factors such as beliefs and emotions. Among a UK sample in the age group 30 to 65 years old, Luuk Perik and colleagues find that subjective knowledge and anxiety have a positive correlation with behavioural intentions. In a follow-up study, they focus in more and look at contextual factors such as an increase in retirement and its effect on behavioural intentions.

More information on this research can be found on the project page.

For further information, please contact the Research Office at

About the speaker

Luuk Perik

Luuk Perik has a background in economics, with a Masters degree in Public Economics and a Research Masters in Neuroeconomics. The interplay between economics and finance with psychology is Luuk’s specific interest. His Research Masters thesis at Tilburg University looked beyond cognitive factors such as economic preferences when it comes to decision-making and information gathering.

In 2016, Luuk began his PhD at Maastricht University, looking at behavioural intentions in the pension context (such as the intention to talk to a financial advisor), studying both cognitive and non-cognitive factors. Professor Rob Bauer, Dr Elisabeth Brüggen and Dr Thomas Post are supervising the project, working together with Professor Wandi Bruine de Bruin of Leeds University Business School. Luuk will be a visiting researcher at Leeds University Business School from January 2018 for a period of four months.