In a series of online experiments, we examine whether increasing the incentives to save by reducing the income tax rate on pensions results in higher savings. Our findings show that reducing the income tax rate on pensions has almost no significant effect on savings behavior. However, if we vary...

This paper investigates whether exposure to explanatory diagrams can affect a major financial decision. In a controlled experiment, participants were given pension benefit statements with or without one or two diagrams, before answering incentivised questions that measured recall, comprehension...

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 report the effects of framing and default settings in annuity demand after conducting a survey-based experiment with over 3,000 members of a Dutch occupational pension plan. The participants were asked to allocate their real projected pension accrual between a life annuity and a partial lump...