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Increasing Retirement Savings through Access Points and Persuasive Messages: Evidence from Mexico

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  • Mariano Bosch
  • Adrian Rubli

Abstract

We study transaction costs for making deposits within the privatized pension system in Mexico. We analyze an expansion of access channels for additional (voluntary) contributions at 7-Eleven stores, followed by a media campaign providing information on this policy and persuasive messages to save. We estimate a differential 6–9 percent increase in the volume of transactions post-policy in municipalities with 7-Eleven relative to those without. However, due to smaller deposits compared to pre-policy sizes, we find modest effects on the flow of savings. Contribution size was not just smaller for marginal savers, but also decreased significantly for some inframarginal savers.

Suggested Citation

  • Mariano Bosch & Adrian Rubli, 2023. "Increasing Retirement Savings through Access Points and Persuasive Messages: Evidence from Mexico," Journal of Human Resources, University of Wisconsin Press, vol. 58(5), pages 1752-1781.
    • Handle: RePEc:uwp:jhriss:v:58:y:2023:i:5:p:1752-1781
    Note: DOI: https://doi.org/10.3368/jhr.58.5.0220-10750R2
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    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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