little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

indirect impact (through potential anticipation effects) on the earnings or savings of future program participants …

Public expenditures on non-contributory pensions are equivalent to at least 1 percent of GDP in several countries in … Latin America and is expected to increase. We explore the effect of non-contributory pensions on the well-being of the …-contributory pensions on well-being in rural Mexico can be largely generalized to Peru …

Public expenditures on non-contributory pensions are equivalent to at least 1 percent of GDP in several countries in … Latin America and is expected to increase. We explore the effect of non-contributory pensions on the well-being of the …. Thus, we conclude that the effects of non-contributory pensions on well-being in Paraguay are comparable to those found for …