We study the effects of two exogenous modifications in the Swedish pension system application form nudging individuals towards a fixed-term payout. Meanwhile, the set of available options and the default option—life annuity—were unchanged during the period under study. We examine the effects on individuals’ payout decisions and the spillover effects on labour supply and other pensions using a difference-in-difference framework and detailed administrative data on actual payout decisions and a wide range of individual-level outcomes. Each modification increased the demand for the nudged payout by around 30 percentage points. The first modification also induced individuals to work less.

中文翻译：

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推动退出？养老金信息变化对老年工人年金化、劳动力供应和退休选择的影响

我们研究了瑞典养老金制度申请表中两项外生修改的影响，这些修改促使个人向固定期限支付。同时，可用选项集和默认选项——终身年金——在研究期间没有变化。我们使用差异中的差异框架和关于实际支付决策的详细行政数据和广泛的个人层面结果来研究对个人支付决策的影响以及对劳动力供应和其他养老金的溢出效应。每次修改都会将轻推派息的需求增加约 30 个百分点。第一次修改还导致个人减少工作。