Non-contributory pensions are becoming increasingly prevalent worldwide. As their effects are likely to be context-dependent, evaluating their effects in a wide range of settings is important for establishing the external validity of the non-contributory pension literature. We use a new monthly panel dataset and a difference-in-differences strategy to study the effect of a new non-contributory pension in Singapore (the Silver Support Scheme or SSS) on labour supply, work expectations, private cash transfers, and expenditure, 1 year after its implementation. We find no evidence that receiving SSS payouts led to a fall in labour supply, work expectations, or the receipt of private cash transfers in the first year after SSS implementation—our estimated effects for these outcomes are statistically insignificant and are either negative but close to zero or positive. Our point estimates of the effects of receiving SSS payouts on expenditure are positive but too imprecise to allow us to make any definitive conclusions. Lastly, we do not find evidence of anticipatory effects among younger individuals who are not age-eligible for payouts yet. These results, when coupled with our finding in a companion paper that the SSS improved recipients’ subjective well-being, suggest that the SSS was successful in improving recipients’ welfare without substantial crowding out of private transfers or changes in labour market behaviour of current and future SSS beneficiaries.

中文翻译：

---

非缴费型养老金对劳动力供应和私人收入转移的影响：来自新加坡的证据

非缴费型养老金在世界范围内变得越来越普遍。由于其影响可能是与环境相关的，因此在广泛的环境中评估其影响对于确定非缴费型养老金文献的外部有效性很重要。我们使用一个新的每月面板数据集和差异差异策略来研究新加坡新的非缴费型养老金（白银支持计划或SSS）对劳动力供应，工作期望，私人现金转移支付和支出的影响，实施后1年。我们找不到证据表明收到SSS支出会导致劳动力供应，工作期望，或在实施SSS后的第一年收到私人现金转移支付–我们对这些结果的估计影响在统计上不重要，虽然为负，但接近零或为正。我们对接收SSS支出对支出的影响的点估计是肯定的，但不够精确，无法让我们得出任何明确的结论。最后，我们还没有找到尚未达到年龄资格的年轻个体预期效果的证据。这些结果，再加上我们在同行论文中发现的SSS改善了接收者的主观幸福感，表明SSS成功地提高了接收者的福利，而没有大量挤出私人转移或当前和当前劳动力市场行为的变化未来的SSS受益人。我们对接收SSS支出对支出的影响的点估计是肯定的，但不够精确，无法让我们得出任何明确的结论。最后，我们还没有找到尚未达到年龄资格的年轻个体预期效果的证据。这些结果，再加上我们在同行论文中发现的SSS改善了接收者的主观幸福感，表明SSS成功地提高了接收者的福利，而没有大量挤出私人转移或当前和当前劳动力市场行为的变化未来的SSS受益人。我们对接收SSS支出对支出的影响的点估计是肯定的，但不够精确，无法让我们得出任何明确的结论。最后，我们还没有找到尚未达到年龄资格的年轻个体预期效果的证据。这些结果，再加上我们在同行论文中发现的SSS改善了接收者的主观幸福感，表明SSS成功地提高了接收者的福利，而没有大量挤出私人转移或当前和当前劳动力市场行为的变化未来的SSS受益人。