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Informality Hinders Elder Pensions
- Latin America's labor market informality means about half of workers lack formal pensions.
- Non-contributory pensions are vital to alleviate elder poverty in this context.
Paraguay's Targeted Pension Program
- Paraguay's pension program pays about 90 USD monthly to poor seniors aged 65+.
- The program is well targeted and excludes those receiving other types of assistance.
Robust Experimental Pension Evaluation
- The study used a randomized control trial due to phased rollout of the pension program.
- It examined effects on mental health, labor participation, household labor supply, expenditure, and physical health.