Saving for Old Age in Colombia

Last registered on July 26, 2021

Pre-Trial

Trial Information

General Information

Title
Saving for Old Age in Colombia
RCT ID
AEARCTR-0007367
Initial registration date
May 14, 2021
Last updated
July 26, 2021, 2:25 PM EDT

Locations

There are documents in this trial unavailable to the public. Use the button below to request access to this information.

Request Information

Primary Investigator

Affiliation

Other Primary Investigator(s)

PI Affiliation
Pontificia Universidad Javeriana

Additional Trial Information

Status
In development
Start date
2021-03-04
End date
2021-12-17
Secondary IDs
Abstract
We randomize the promotion of a program that helps workers making less than the monthly minimum wage in Colombia order to encourage enrollment. We use random assignment to the treatment to evaluate the effect of signing up for the program on savings for old age through the program, other financial savings, saving in non-financial assets, labor supply, and consumption.
External Link(s)

Registration Citation

Citation
Pardo, Oliver and Luis Reyes. 2021. "Saving for Old Age in Colombia." AEA RCT Registry. July 26. https://doi.org/10.1257/rct.7367-2.0
Sponsors & Partners

There are documents in this trial unavailable to the public. Use the button below to request access to this information.

Request Information
Experimental Details

Interventions

Intervention(s)
We designed, with the colombian public pension administrator (COLPENSIONES), an RCT to evaluate the socioeconomic effects of a new old age protection policy in Colombia, called Social Protection Floor (SOCPRO). We randomize the timing and the way we're going to get in touch with 72013 people previously identified as SOCPRO prospects, to encourage them to start saving for their old age through this new program. Also, after the intervention, we conduct a survey among the full sample, so we can identify those SOCPRO´s socioeconomic effects in its affiliate's daily lifes.
Intervention Start Date
2021-05-24
Intervention End Date
2021-11-26

Primary Outcomes

Primary Outcomes (end points)
Pension Savings
Labour supply
Income
Consumption
Debts
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This RCT requires 2 stages. The first one consists in sending a stimulating message (via phone call, SMS or both) to a sample of people previously identified as SOCPRO viable prospects in our database, to encourage them to start saving or increase their old age savings.
So, the fist stage results are mainly about these saving variables. But, since we want to analyze other outcomes as labour supply, income, debt, among others, we perform a second stage which consists in applying a survey on both the treatment and control groups. These second stage must be applied at least a month after performing the first stage on the treatment group, so we can perceive the first stage consequences.
Experimental Design Details
Not available
Randomization Method
Randomization done by Colpensiones, the agency providing the program to the treated population
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
1
Sample size: planned number of observations
72013 SOCPRO prospects
Sample size (or number of clusters) by treatment arms
72013 SOCPRO prospects
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
Comité de Investigación y Ética de la facultad de ciencias económicas y administrativas de la Pontificia Universidad Javeriana
IRB Approval Date
2021-04-08
IRB Approval Number
N/A