One of the main arguments for pension system reform in Mexico was its impact on savings. Our work presents a first … quantification of this impact, by estimating the contractual savings generated by this program and its relationship with voluntary … savings. Our results suggest that there is no compensation effect between voluntary and contractual savings. Also, the latter …

retirement savings has usually been theoretically approached under the hypothesis that the Social Security System works as a … substitute to other savings mechanisms. This document presents empirical evidence of the determinants and patterns of savings for … find that those employed individuals who show lower probabilities of making retirement savings are young ones, with male …