Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Saving for retirement through the public pension system: Evidence from the self-employed in Spain

Abstract : Using the fact that the Spanish self-employed voluntarily choose their contributions to Social Security, I study the effect of financial incentives on public pension savings for self-employed workers in Spain. For this, I implement a difference-in-differences approach exploiting the change in public pension saving incentives induced by the 1997 pension reform. I find that the Spanish self-employed significantly respond to the financial incentives for public pension savings. However, the estimated response could be considered modest relative to the magnitude of the return to contributions provided by pension formulas in Spain. I provide evidence suggesting that the lack of salience of the return to contributions could be one of the main drivers of such a modest response, highlighting the importance of information and salience on the responsiveness of self-employed workers to saving incentives.
Document type :
Preprints, Working Papers, ...
Complete list of metadatas

Cited literature [43 references]  Display  Hide  Download

https://halshs.archives-ouvertes.fr/halshs-02948136
Contributor : Caroline Bauer <>
Submitted on : Thursday, September 24, 2020 - 2:07:39 PM
Last modification on : Tuesday, October 6, 2020 - 11:07:56 AM

File

wp_202058_.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : halshs-02948136, version 1

Collections

Citation

Ander Iraizoz. Saving for retirement through the public pension system: Evidence from the self-employed in Spain. 2020. ⟨halshs-02948136⟩

Share

Metrics

Record views

103

Files downloads

54