Marcin Brycz

Faculty of Economics, University of Gdańsk, Poland 

marcin.brycz@ug.edu.pl

ORCID 0000-0002-9017-8915

Expected inheritance and pension attitudes among young people in EU post-communist vs. Anglosphere countries

Mark Biernat

Faculty of Economics, University of Gdańsk, Poland

mbiernat@hotmail.com

ORCID 0009-0009-9690-8593

Laura Catalina Timiras

Department of Marketing and Management,

“Vasile Alecsandri” University of Bacau, Romania

timiras.laura@ub.ro

ORCID 0009-0009-0506-535X

Bogdan Nichifor

Department of Marketing and Management,

“Vasile Alecsandri” University of Bacau, Romania

bnichifor@gmail.com

ORCID 0000-0002-3713-9669

Luminita Zait

Department of Marketing and Management,

“Vasile Alecsandri” University of Bacau, Romania

luminita.zait@ub.ro

ORCID 0009-0001-4478-8923

Abstract. The goal of the study is to evaluate the influence of participants' expected inheritance (assets) on their attitudes toward etatism and pension benefits. The primary question is whether young people with an expected family inheritance exhibit different attitudes in these areas. Additionally, the study examines attitudes across gender, age, and country. One of the most significant challenges of pensions is preserving value over an individual's lifetime, as there is no definitive answer regarding which assets perform best in this regard. Public skepticism toward the pension system and the state is common, complicating matters further. This problem is particularly pronounced among younger individuals who have yet to assume full economic and financial responsibilities. They are often less economically literate and have limited access to financial advice. However, they do receive some foundational prior knowledge from their homes. The rationale for incorporating attitudes towards pensions as a valid variable is that prior knowledge plays a crucial role in judgments on specific issues, such as preserving value in the future or evaluating long-term investments. Even without personal experience, individuals have attitudes that shape their judgments. Overall, more than 700 people participated in the study. After removing outliers, N= 531 valid cases from seven countries: Poland, Romania, the USA, the UK, Canada, and Ireland. A power analysis preceded the testing of the MANOVA model. We found a significant difference in attitudes among participants who grew up in families investing in real estate and tangible assets. Those from families that invested in tangible assets exhibited a stronger concern regarding pension benefits, implying that people with such investments feel less secure about their pensions. Additionally, we found a significant interaction effect between the type of country and expected inheritance. In the Anglosphere countries, people have more positive attitudes toward etatism and pension benefits compared to those in Poland and Romania. This outcome confirms stronger kinship ties in the latter countries and a higher cultural attachment to real estate.

Received: November, 2023

1st Revision: May, 2024

Accepted: September, 2024

DOI: 10.14254/2071-8330.2024/17-3/13

JEL Classification: D14, H55

Keywords: pension, inheritance, Poland, Romania, English-speaking countries