Short and medium-term effects of personalized pension projection: A three-arm randomized control trial

This article utilized a three-arm design to assess the short- and medium-term effects of PPP on temporal discounting, financial preparation for retirement, and the amount of private retirement savings among a sample of middle-aged working adults in Hong Kong. Participants were randomly assigned to one of three conditions implementation of the projection component of PPP alone, implementation of both the projection and comparison components of PPP, and the control condition. Data were collected at five points—one pretest and four posttests after the intervention, effectively capturing the short- and medium-term effects on outcome variables. The comparison component significantly reduced temporal discounting and enhanced financial preparation for retirement in the short and medium term, while the projection component only influenced financial preparation in the short term. The strong impact of the comparison component of PPP clearly indicates the direction for further enhancing the design of PPP. Copyright © 2024 With Intelligence LLC.