Seeking solutions to Vulnerability in Old Age: Preferences, constraints, and alternatives for coverage under Peru`s pension system
Exploiting new data from a survey and behavioral experiment conducted in Peru we analyze indvidual`s preferences for securing income in old age. We identify a group that is unrationed by the mandate to save in Peru`s pension system, and draw insights from their affiliation and contribution behavior. Among the unrationed, those who are more tolerant of risk, have more children, and have a greater share of housing in their accumulated assets, are less likely to affiliate and/or contribute to the formal pensions sytem. Further, the less risk tolerant choose private individual retirement accounts over a publicly administered pension system.
|Date of creation:||01 Feb 2005|
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1997-70, Tilburg University, Center for Economic Research.
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