Template-Type: ReDIF-Paper 1.0
Title: Frames, Incentives, and Education: Effectiveness of Interventions to Delay Public Pension Claiming
Author-Name: Franca Glenzer
Author-Name: Pierre-Carl Michaud
Author-Name: Stefan Staubli 
Creation-date: 2023
Abstract: Many near-retirees forgo a higher stream of public pension income by claiming early. We provide both quasi-experimental and survey-experimental evidence that the timing of public pension claiming is relatively inelastic to changes in financial incentives in Canada. Using the survey experiment, we evaluate the effect of two different educational interventions and different ways of framing the incentive to delay claiming. While all three types of interventions induce delays, these interventions have heterogeneous financial consequences for participants who react.
Classification-JEL: D91, H55, J14, J26
Keywords: pension claiming; annuities; retirement; financial education; framing
File-URL: https://ire.hec.ca/wp-content/uploads/2023/01/cahier_IRE_11_frames_incentives_education.pdf
File-Size: 2100
Handle: RePEc:rsi:irersi:11