Digitalization and Retirement Contribution Behavior: Evidence from Administrative Data
Open access
Date
2024-08Type
- Journal Article
ETH Bibliography
yes
Altmetrics
Abstract
Retirement savings decisions are increasingly mediated by digital technologies that promise to help individuals plan adequately for their retirement. We exploit a natural experiment to show that introducing a digital pension application increases the probability of making a voluntary retirement contribution by 1.8 percentage points, from an average pretreatment contribution rate of 2.8%. Men and higher-income earners are more likely to respond to the app introduction. We then leverage a field experiment to show that using the app affects contribution behavior mainly through reducing the "hassle" costs of making contributions, rather than by providing information on the associated tax savings. Show more
Permanent link
https://doi.org/10.3929/ethz-b-000679160Publication status
publishedExternal links
Journal / series
The Review of Financial StudiesVolume
Pages / Article No.
Publisher
Oxford University PressOrganisational unit
03539 - Filippini, Massimo / Filippini, Massimo
More
Show all metadata
ETH Bibliography
yes
Altmetrics