Promotion of Financial Education in the Workplace and Program Evaluation

◆At present, the Working Group on Capital Market Regulations of the Financial System Council has examined the measures to promote financial education to expand household asset-based income. Below, we introduce two examples of financial education policies that are likely to be instructive for Japan: (1) support for the promotion of financial education in the workplace; and (2) evaluation of financial education and its policies.

◆Regarding the promotion of financial education in the workplace, there are many countries and regions, such as Canada, the United Kingdom, and Hong Kong, where the main body promoting financial education is actively disseminating information to employers, including the benefits that workplace education brings to companies. There are also examples such as Hong Kong and the United Kingdom, which incentivize companies to implement workplace education.

◆Many countries and regions set and monitor quantitative targets and KPI for measures such as the results of financial literacy surveys and changes in financial behavior to evaluate programs and policies on financial education. In addition, there are some countries and regions such as Hong Kong and the United Kingdom that provide evaluation tools and fund educational programs to evaluate effectiveness. Also, the United Kingdom has established an evidence hub to compile evaluation results of educational programs.