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Does pension information impact savings?

Author

Listed:
  • Najat El Mekkaoui

    (LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)

  • Bérangère Legendre

    (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)

Abstract

Many pension reforms in OECD countries included pension statements with the objective of improving individuals' financial security in retirement. Our objective is to assess the effectiveness of the pension information policy implemented in France and to investigate whether the pension statement results in better informed workers, who then increase their retirement savings. Using regression discontinuity designs combined with quantile regressions, we assess whether the changes in retirement savings and holding of assets are due to the pension information system and then quantify the impact. We conclude that a pension estimate sent to workers encourages the wealthiest to increase their retirement savings while it does not influence the savings of individuals with a low level of wealth.

Suggested Citation

  • Najat El Mekkaoui & Bérangère Legendre, 2022. "Does pension information impact savings?," Post-Print hal-03877170, HAL.
    • Handle: RePEc:hal:journl:hal-03877170
    DOI: 10.1017/S1474747221000470
    Note: View the original document on HAL open archive server: https://hal.science/hal-03877170
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    References listed on IDEAS

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    Keywords

    pension statements; savings for retirement; financial literacy; quantile regressions;
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