  Over sixty percent of employees at a large South African company contribute
the minimum rate of 7.5 percent to a retirement fund, far below the rate of 15
percent recommended by financial advisers. I use a field experiment to
investigate whether providing employees with a retirement calculator, which
shows projections of retirement income, leads to increases in contributions.
The impact is negligible. The lack of response to the calculator suggests many
employees may wish to save less than the minimum. I use a model of asymmetric
information to explain why the employer sets a binding minimum.

General Economics;Economics