Moreno, Carla; Slavov, Sita N. - National Bureau of Economic Research - 2024
We examine the labor supply impact of a 2016 policy that allows retirement-eligible individuals covered by Peru …'s private pension system to receive retirement benefits as a lump sum rather than as an annuity. We present a theoretical model …) more attractive relative to informal employment (not requiring pension participation); it also encourages early retirement …