RRSP

Canada – Employer sponsorship and other forms of automatic saving may matter a great deal in helping more vulnerable groups save for their retirement.

A large literature in behavioural economics finds that households benefit from assistance with the challenging task of preparing financially for retirement. Workplace pension program characteristics such as default options or savings rate escalators tend to significantly increase contributions to these plans (Madrian and Shea 2001; Choi et al. 2004; Thaler and Benartzi 2004). Recent evidence … Continue reading →