How to Promote Retirement Savings for Low-Income and Independent Workers: The Cases of Chile, Colombia, Mexico and Peru
The objective of this document is to understand the potential that voluntary savings has to increase pension coverage for low-income and independent workers in Chile, Colombia, Mexico, and Peru. It comprehensively reviews supply, demand, and institutional barriers to retirement savings, and presents possible cost-effective solutions to overcome these barriers. The framework of solutions proposed consists of behavioral tools, in addition to financial and technological innovations, with high potential for impact on the long-term savings of independent and low-income workers.
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Bibliographic Details
| Main Author: |
Inter-American Development Bank |
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| Other Authors: |
Mariano Bosch |
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| Language: | English |
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| Published: |
Inter-American Development Bank
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| Subjects: | Pension,
Income,
Consumption and Saving,
Retirement Saving,
G23 - Non-bank Financial Institutions • Financial Instruments • Institutional Investors,
D83 - Search • Learning • Information and Knowledge • Communication • Belief • Unawareness,
D91 - Intertemporal Household Choice • Life Cycle Models and Saving,
H55 - Social Security and Public Pensions,
J26 - Retirement • Retirement Policies,
E21 - Consumption • Saving • Wealth,
Mexico; Colombia; Peru; Chile; savings; retirement; old-age; self-employed; behavioral biases; behavioral tools; technology; information; solutions, |
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| Online Access: | http://dx.doi.org/10.18235/0002016
https://publications.iadb.org/en/how-promote-retirement-savings-low-income-and-independent-workers-cases-chile-colombia-mexico-and
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