In Search of Inclusion: Informal Sector Participation in a Voluntary, Defined Contribution Pension System
研究了在政府提供最低匹配缴款激励的国家自愿性定额缴款养老金计划中，谁参与并持续缴款，发现非正规部门对此类计划有显著兴趣，但仅约50%的参与者达到最低匹配门槛。
This paper examines who contributes and who persists in contributing in a national, voluntary, defined contributory pension programme, where the government provides the incentive of matching contributions of a minimum amount (USD 16). The paper uses proprietary data from a financial services firm where 12 per cent of customers (37,000 individuals) chose to participate in this programme. The evidence shows that only about 50 per cent of contributors reach the minimum amount for the co-contribution, but that participants persist in contributing even if they failed to contribute the minimum amount in a given year. While this paper does not provide causal estimates, it does present evidence of considerable interest among the informal sector in a state-run voluntary pension programme in an emerging market where access to formal finance is otherwise poor.