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Table 6 Overall impact of expecting to receive SSS payouts on labour decisions

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

 

(1)

(2)

(3)

(4)

(5)

(6)

VARIABLES

Whether received income

Amount received

Amount received (positive)

Probability of working full- time after age 62

Probability of working full- time after age 65

Probability of working full- time after age 70

Expect SS × Jan

0.001

−55.220

− 109.955

− 0.752

− 0.786

0.594

(0.010)

(54.173)

(68.180)

(1.740)

(1.519)

(1.407)

Expect SS × Feb

−0.013

−34.121

15.826

(0.011)

(52.164)

(61.606)

Expect SS × Mar

−0.002

− 139.445**

− 190.474**

(0.011)

(64.163)

(83.188)

Expect SS × announce-to-pay

−0.001

−21.650

−11.847

− 1.467

−1.031

− 1.887

(0.010)

(40.859)

(42.438)

(1.623)

(1.421)

(1.362)

Expect SS × post-pay

−0.002

−26.508

−30.540

− 0.949

− 0.287

0.117

(0.011)

(45.552)

(44.553)

(1.650)

(1.429)

(1.342)

Mean

0.70

1951

2783

48.45

37.68

22.27

S.D.

0.46

2514

2588

34.68

33.48

29.04

Observations

51,578

51,432

35,475

13,581

16,490

16,502

R-squared

0.76

0.81

0.82

0.67

0.67

0.63

  1. Notes:
  2. 1Standard errors clustered at the household level in parentheses. ***, **, and * represent statistical significance at the 1, 5, and 10% level of significance respectively
  3. 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 columns (4)–(6) are collected at the individual level every quarter
  4. 3Results are estimates of coefficients in Eq. (1). The sample is restricted to respondents who are not age-eligible for SSS (i.e. aged 56 to 63 in 2016), Singapore citizens, live in public housing flats, and with a propensity score of 0.2–0.8
  5. 4Mean and standard deviation statistics are based on pre-announcement levels of the dependent variable for respondents who expected to receive SSS payouts