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Assessing the demand for micropensions among India’s poor

Olivia Mitchell and Anita Mukherjee

The Journal of the Economics of Ageing, 2017, vol. 9, issue C, 30-40

Abstract: Using new data from a field experiment in India, we test hypotheses about micropension design in a poor population. We elicit demand for the basic micropension in addition to variants with different minimum withdrawal ages, government match rates, and options for lump sum withdrawal. A majority (80%) of respondents report interest in the micropension, and the amount they are willing to contribute would be enough to cover about 40% of expected old-age consumption. We find that prospective policyholders value the inability to access the assets until a particular age. We also find that they respond positively to the government match rate.

Keywords: Pension; Saving; Commitment savings; Retirement (search for similar items in EconPapers)
Date: 2017
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The Journal of the Economics of Ageing is currently edited by D.E. Bloom, A. Sousa-Poza and U. Sunde

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