Personalized Digital Information and Tax-favoured Retirement Savings: Quasi-experimental Evidence from Administrative Data

58 Pages Posted: 23 Feb 2021

See all articles by Claudio Daminato

Claudio Daminato

ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich

Massimo Filippini

ETH Zürich; University of Lugano - Faculty of Economics

Fabio Haufler

ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich

Date Written: November 1, 2020

Abstract

This paper studies the impact of making personalized digital information available through a pension app on contributions to tax-favored retirement accounts. Using Swiss administrative pension fund data, we document limited take-up of fiscal incentives for retirement savings. Exploiting the staggered introduction of the pension app across occupational pension funds, we show that its availability increases individual tax-favored contributions. Men and higher-income earners are more likely to access the digital environment and respond to its introduction. These findings suggest that providing access to a pension app reduces information and transaction costs and facilitates the take-up of financial incentives for retirement saving.

Keywords: Defined contribution plans, Fiscal incentives, Pension app, Savings

JEL Classification: D14, G51, H31, H55

Suggested Citation

Daminato, Claudio and Filippini, Massimo and Haufler, Fabio, Personalized Digital Information and Tax-favoured Retirement Savings: Quasi-experimental Evidence from Administrative Data (November 1, 2020). Available at SSRN: https://ssrn.com/abstract=3740607 or http://dx.doi.org/10.2139/ssrn.3740607

Claudio Daminato

ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich ( email )

Zürichbergstrasse 18
Zurich, 8092
Switzerland

Massimo Filippini

ETH Zürich ( email )

ETH-Zentrum
CH-8092 Zurich
Switzerland

University of Lugano - Faculty of Economics ( email )

Via Giuseppe Buffi 13
CH-6900 Lugano, CH-6904
Switzerland

Fabio Haufler (Contact Author)

ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich ( email )

Zürichbergstrasse 18
Zurich, 8092
Switzerland

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