applied to study welfare and savings implications of automatic enrolment into private pensions. The default option effect on … disproportionately low savings of individuals on low incomes and non-fungibility between public and private pension wealth. The model is … default scheme. Nevertheless, the impact of automatic enrolment on total savings is ambiguous in general, because in addition …

savings. Specifically, psychological distress is associated with decreasing the probability of holding retirement accounts by … as much as 24 percentage points and decreasing retirement savings as a share of financial assets by as much as 67 … regulation of these accounts to help ensure households have adequate retirement savings …

automatic enrolment, participation in workplace pensions among eligible private sector workers is estimated to have increased by … pensions. …