Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program
Códigos JEL.: D14, I22, G53, H55
- Autores:
-
Becerra Camargo, Oscar Reinaldo
Cavallo, Eduardo
Guzmán Gutiérrez, Carlos Santiago
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2025
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/76132
- Acceso en línea:
- https://hdl.handle.net/1992/76132
- Palabra clave:
- Information provision
Retirement planning
Pensions
Switching cost
Inertia
Economía
- Rights
- openAccess
- License
- http://purl.org/coar/access_right/c_abf2
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Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| title |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| spellingShingle |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program Information provision Retirement planning Pensions Switching cost Inertia Economía |
| title_short |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| title_full |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| title_fullStr |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| title_full_unstemmed |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| title_sort |
Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory Program |
| dc.creator.fl_str_mv |
Becerra Camargo, Oscar Reinaldo Cavallo, Eduardo Guzmán Gutiérrez, Carlos Santiago |
| dc.contributor.author.none.fl_str_mv |
Becerra Camargo, Oscar Reinaldo Cavallo, Eduardo Guzmán Gutiérrez, Carlos Santiago |
| dc.subject.keyword.none.fl_str_mv |
Information provision Retirement planning Pensions Switching cost Inertia |
| topic |
Information provision Retirement planning Pensions Switching cost Inertia Economía |
| dc.subject.themes.none.fl_str_mv |
Economía |
| description |
Códigos JEL.: D14, I22, G53, H55 |
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2025 |
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2025-03-27T14:42:42Z |
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2025-03 |
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eng |
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Documentos CEDE; 2025-11 |
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48 páginas |
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application/pdf |
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Universidad de los Andes |
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Facultad de Economía |
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Universidad de los Andes |
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Becerra Camargo, Oscar ReinaldoCavallo, EduardoGuzmán Gutiérrez, Carlos Santiago2025-03-27T14:42:42Z2025-03-27T14:42:42Z2025-031657-7191https://hdl.handle.net/1992/76132Códigos JEL.: D14, I22, G53, H55This paper investigates the impact of behavioral frictions and information provision on retirement planning through the Dual Advisory program in Colombia. The program gradually became mandatory to prevent costly mistakes and offered personalized information on switching pension plans. Using a regression discontinuity design and administrative data, we estimate the causal effects of the program on switching behavior and contribution patterns. The findings indicate that the program reduced unfavorable switches by approximately 29.5%, due to a combination of deterring would-be switchers for whom the switch would have resulted in lower expected pension (22.7%) and the information received by those who attended the sessions (6.7%). However, the program also deterred favorable switches by 10.7%. There is no evidence of the program affecting contribution frequency post-intervention.Este artículo investiga el impacto de las fricciones comportamentales y la provisión de información en la planificación para el retiro a través del programa de Doble Asesoría en Colombia. El programa se volvió obligatorio gradualmente para prevenir errores costosos y brindó información personalizada sobre los traslados entre planes de pensiones. Utilizando un diseño de regresión discontinua y datos administrativos, estimamos los efectos causales del programa en los patrones de traslados y de contribución. Los hallazgos indican que el programa redujo los traslados desfavorables en aproximadamente un 29.5 %, debido a una combinación de disuadir a los posibles traslados para quienes el cambio habría resultado en una pensión esperada más baja (22.7%) y la información recibida por aquellos que asistieron a las sesiones (6.7 %). Sin embargo, el programa también disuadió traslados favorables en un 10.7 No hay evidencia de que el programa afecte la frecuencia de contribución después de la intervención.48 páginasapplication/pdfengUniversidad de los AndesFacultad de EconomíaDocumentos CEDE; 2025-11Breaking Barriers in Retirement Planning: Evidence from Colombia’s Dual-Advisory ProgramDocumento de trabajoinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttp://purl.org/redcol/resource_type/WPInformation provisionRetirement planningPensionsSwitching costInertiaEconomíainfo:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2PublicationORIGINALdcede2025-11.pdfdcede2025-11.pdfapplication/pdf10613399https://repositorio.uniandes.edu.co/bitstreams/c91797cf-ce7d-4956-bcd7-2911d460ac65/downloade0b288a633c5eb18f7ef227374e05a9cMD51LICENSElicense.txtlicense.txttext/plain; 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