Behavioral Interventions (FinSec)

SPI is currently developing additional experiments with Backer, which may include anchoring contribution amounts and providing asset growth charts that allow individuals to compare the returns of different contribution options.

The PerkUp CAFÉ program was launched in October 2020. The experiment tests whether need-based consumption can be encouraged through an unconditional cash transfer (UCT) as opposed to traditional means testing (e.g. making workers document financial need).

This four-part experiment to test the best way of achieving this goal. Interventions will include SMS payment reminders, simple goal setting and reminders, and finally, a “financial health first-aid kit” which will remind participants of their goals with personalized SMS reminders.