The effect of non-contributory pensions on labour supply and private income transfers: evidence from Singapore

Table 2 Overall impact of receiving SSS payouts on labour decisions

	(1)	(2)	(3)	(4)
VARIABLES	Whether received income	Amount received	Amount received (positive)	Probability of working full- time after age 70
Received SS × Jan	0.006	24.920	− 182.536	−2.311
Received SS × Jan	(0.021)	(69.479)	(154.643)	(3.304)
Received SS × Feb	0.010	29.468	7.444	–
Received SS × Feb	(0.020)	(34.471)	(91.964)	–
Received SS × Mar	0.021	57.272	− 118.865	–
Received SS × Mar	(0.020)	(48.284)	(217.277)	–
Received SS × announce-to-pay	0.012	97.578	66.047	−2.117
Received SS × announce-to-pay	(0.018)	(78.829)	(92.580)	(3.194)
Received SS × post-pay	−0.010	67.668	44.921	−4.335
Received SS × post-pay	(0.017)	(68.360)	(98.466)	(2.950)
Mean	0.27	331	1229	18.55
S.D.	0.45	894	1366	30.38
Observations	16,062	15,997	4596	3536
R-squared	0.81	0.70	0.75	0.64

Notes:
¹Standard errors clustered at the household level in parentheses. ***, **, and * represent statistical significance at the 1, 5, and 10% level of significance respectively
²Dependent variables are shown at the top of each column. Values in columns (1)–(3) are reported at the individual and monthly level, with column (3) including only responses with positive values. Values in column (4) are collected at the individual level every quarter
³Results are estimates of coefficients in Eq. (1). The sample is restricted to respondents who are age-eligible for SSS (i.e. aged 65 and above in 2016), Singapore citizens, live in public housing flats, and with a propensity score of 0.2–0.8
⁴Mean and standard deviation statistics are based on pre-announcement levels of the dependent variable for respondents who received SSS payouts