FRAMES, INCENTIVES, AND EDUCATION: EFFECTIVENESS OF INTERVENTIONS TO DELAY PUBLIC

We also assessed in the same experiment the sensitivity of claiming to financial incentives with the objective of un- 4 derstanding the effects estimated from the natural experiment. [...] The level of the pension increases with the total lifetime earnings and the number of contribution years between age 18 and the pension claiming age. [...] The identifying assumption is that, absent the reform-induced change in the PAF s, trends in Yi,a,p,t would have been the same in Québec and the Rest of Canada. [...] Panel b shows that the stated claiming age responds to financial incentives in line with economic theory: The smaller the penalty and bonus for early and late claiming, the larger the share of respondents who claim at the earliest age. [...] Since the mean of the ACC variable is $8,650, the effect of increasing the accrual by that amount is to reduce the probability of claiming by 1.36 percentage points.