Many countries in the developing world have implemented non-contributory old-age pensions. Evidence of the impact of such policies on the elderly in Sub-Saharan Africa is scarce, however. In this paper, we provide the first evidence from a randomized evaluation of an unconditional,...

We study the effects of the COVID-19 pandemic and the pension policy response on the private and public pension systems of Peru. We find that the policies allowing early withdrawals from the private pension balances imply a significant reduction in expected pension wealth by about 40 people, yet...

About 5 million state and local government workers, including 1.2 million public school teachers concentrated in 15 states, are not enrolled in Social Security. In order to ensure that those workers receive adequate benefits, Congress requires state and local government employers to offer...

More than half of U.S. states are working to establish programs what would automatically enrollment in Individual Retirement Accounts (IRAs) workers who are not offered a retirement plan by their employer. These programs are designed to address a perceived shortfall of retirement saving,...

Financing consumption of the elderly in the face of the projected increase in life expectancy is a key challenge for economic policy. Moreover, standard structural models with fully rational agents suggest that about 50-60 percent of old-age consumption is financed with voluntary savings, even...

COVID-19 and the lockdowns have had a big global economic effect, as well as increasing mortality. We examine the effects of COVID-19 and the resulting relaxations of pension regulations on pension schemes. Those who transfer their pension or withdraw cash from their pension pot while asset...