Nudges toward voluntary defined-contribution retirement savings have moved many non-savers into savings but have left … on evidence from the United States and other countries to advocate a retirement savings solution centered on a … paternalistic second layer of mandatory private defined-contribution savings accounts in a retirement savings pyramid, above the …

savings decisions. We also highlight that the lack of knowledge prevalently hits the most vulnerable individuals in the …

How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …