Open AccessAge of Decision: Pension Savings Withdrawal and Consumption and Debt Response
Author(s) -
Sumit Agarwal,
Jessica Pan,
Wenlan Qian
Publication year - 2019
Publication title -
management science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.954
H-Index - 255
eISSN - 1526-5501
pISSN - 0025-1909
DOI - 10.1287/mnsc.2018.3148
Subject(s) - market liquidity , consumption (sociology) , pension , debt , durable good , economics , monetary economics , consumer spending , credit card , savings account , interest rate , household debt , business , labour economics , finance , payment , recession , microeconomics , macroeconomics , social science , sociology
This paper exploits an administrative regulation in Singapore that allows individuals to withdraw between 10% and 30% of their pension savings at age 55. We find a large and highly significant incr...
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