H2020Индивидуална стипендия2021–2024

AUGMENTPENSION · Augment your pension - How Augmented Reality (AR) can improve future financial well-being: The role of future self-imagery and its impact on pension awareness and engagement

„Хоризонт 2020“ — Действия „Мария Склодовска-Кюри“

Период: 2021-09-01 → 2024-04-02
Финансиране от ЕС: 187 572 €
Участници: 1
Схема: MSCA-IF

Линиите свързват координатора с партньорите.

Накратко на български

Разширената реалност (AR) се тества като инструмент за визуализиране на бъдещото „аз“, за да се увеличи интересът към пенсионните спестявания. Това е важно, за да се намали рискът от бедност в старостта поради липса на финансово планиране в млада възраст.

Този кратък обзор е генериран от изкуствен интелект

Кратко обяснение, генерирано от езиков модел по текста на CORDIS. Оригиналът е по-долу.

Резултати накратко

Augment your pension - How Augmented Reality (AR) can improve future financial well-being: The role of future self-imagery and its impact on pension awareness and engagement

This project addresses the critical issue of low pension awareness and engagement among consumers, especially young people, which can lead to inadequate retirement savings and elderly poverty. With complex financial decisions like pension planning now required at younger ages, and financial mistakes early in life being costly, there is an urgent need to increase pension engagement to promote future financial well-being. This is important for society because over 25 million Americans aged 60+ are already economically insecure, and lack of pension planning threatens to exacerbate elderly poverty globally, even in countries with well developed pension systems (like for a example the Netherlands). Low pension engagement creates challenges including potential future pension gaps, lack of awareness of those gaps, and insufficient corrective action even when aware. The overall objectives of this project are to: Evaluate whether augmented reality (AR) technology can be used to increase consumers' pension awareness, pension engagement, and financial well-being. Investigate if AR's effects are driven by shifting consumers' mental imagery from their current self to their future self. Examine boundary conditions like age that may influence AR's effectiveness for different demographic groups. Test AR's impact on actual pension-related behaviors in a real-world field experiment with a major pension provider. By leveraging AR to help consumers better imagine their future selves, this research aims to develop an innovative, technology-enabled approach to boost pension engagement and ultimately improve financial well-being, addressing a critical societal challenge. The findings could provide policymakers and pension managers with new tools to promote retirement planning and financial security across diverse populations.

Текст от CORDIS, на английски · Данни: CORDIS, © Европейски съюз

Цел на проекта

Elderly poverty is a prominent problem, and financial well-being in elderly is often considered low. A common cause for elderly poverty is a lack of sufficient pension awareness and engagement, especially at a young age. Independent of the pension scheme in a particular country, pension funds and policymakers around the world struggle to increase the engagement of pension plan consumers that would affect a consumer's future financial well-being positively. An often-proposed intervention to overcome the present bias that leads to not engaging with pension communications is to stimulate the imagery of the future self in pension plan consumers. Yet, current pension communications fall behind expectations in stimulating imagery of the future self and thus fail to improve pension awareness and engagement. In light of recent evidence on a new technology coined Augmented Reality (AR), this project proposes an experimental approach to investigate the impact of AR on the imagery of the future self and the downstream effects on pension awareness and engagement. Building on a series of laboratory, online, and field experiments, I apply findings from recent AR research in consumer behavior to find evidence and theoretically explain the effects AR can have on pension awareness and engagement. Combining findings from laboratory studies with field-evidence from the world’s third largest pension provider (APG) will shine light on how to improve pension communication with AR to improve future financial well-being. The proposed results are societally relevant as they can help to promote pension engagement that results in future financial well-being. My strong background in experimental consumer behavior research with a focus on AR technology and consumer engagement, combined with my supervisor’s expertise in pension and financial well-being research, and the strong research and training environment at Maastricht University (UM) will guarantee a successful project completion.

Оригинален текст от CORDIS (на английски).

Участници

UNIVERSITEIT MAASTRICHT · MaastrichtКоординаторНидерландия