 Chile's pension reform after twenty yearsRodrigo Acuna R. and Augusto Iglesias P. No 24079, Social Protection Discussion Papers and Notes from The World Bank Abstract: The aim of this paper is to describe the 1980 Chilean pension reform and to present its main results and economic impact. It is mainly descriptive; however we have tried to emphasize the lessons that may be learned and that may be of interest to other countries in different circumstances. In particular, we focus on potential areas for regulatory improvements. In Section II, a brief description of the AFP system and its place within Chile's social security system is presented. Also, the main characteristics of the transition from the"old"to the new system are sketched, together with the main changes in regulation after 1980. Section III includes a history of pension reform in Chile along with an analysis of the circumstances which may explain why the country decided to introduce such a radical reform. In Section IV, the performance of the AFP system is summarized. In Section V, the main economic effects of pension reform are discussed. Section VI presents our view regarding future development in the regulation of the AFP system. The paper concludes with some comments on the timing of possible regulatory changes. Keywords: Pensions&Retirement Systems; Banks&Banking Reform; Insurance&Risk Mitigation; Environmental Economics&Policies; Gender and Law (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wbk:hdnspu:24079 Access Statistics for this paper More papers in Social Protection Discussion Papers and Notes from The World Bank 1818 H Street, N.W., Washington, DC 20433. Contact information at EDIRC. |
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