Public expenditures on noncontributory pensions are equivalent to at least 1% of gross domestic product in several countries in Latin America and are expected to increase. We explore the effect of noncontributory pensions on well-being by studying the Pension 65 program in Peru, which uses a poverty eligibility threshold. Households with a beneficiary increased their level of consumption by 40%. The program improved subjective well-being by 0.17 standard deviations. Comparing our findings to those we published in 2016, we conclude the effects of noncontributory pensions on well-being in rural Mexico are comparable to those found in Peru.

中文翻译：

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非缴费型养老金对物质和主观幸福感的影响

在拉丁美洲的几个国家，非缴费型养老金的公共支出至少相当于国内生产总值的 1%，预计还会增加。我们通过研究秘鲁的 Pension 65 计划来探索非缴费型养老金对福祉的影响，该计划使用贫困资格阈值。有受益人的家庭的消费水平提高了 40%。该计划将主观幸福感提高了 0.17 个标准差。将我们的研究结果与我们在 2016 年发表的研究结果进行比较，我们得出结论，非缴费型养老金对墨西哥农村福祉的影响与秘鲁的结果相当。