Economics at your fingertips  

The long term impact of Chilean policy reforms on savings and pensions

Carlos Madeira

The Journal of the Economics of Ageing, 2021, vol. 19, issue C

Abstract: Using a combination of survey data plus the demographic and life expectancy projections for Chile I simulate how different policies may impact the workers’ pensions and voluntary savings. I find that households dissave from their public pension benefits, but not from their contributory pensions, therefore policy increases of contributions are not crowded-out by private decisions. The results show that an increase of the contribution rate plus a delay of the retirement age is necessary to achieve high replacement ratios until 2055. Boosting the education of younger generations and incentives for female employment is efficient for increasing pensions among the poorest households.

Keywords: Savings; Pensions; Labor income; Income volatility (search for similar items in EconPapers)
JEL-codes: D14 G11 J64 O54 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.jeoa.2021.100326

Access Statistics for this article

The Journal of the Economics of Ageing is currently edited by D.E. Bloom, A. Sousa-Poza and U. Sunde

More articles in The Journal of the Economics of Ageing from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2023-11-03
Handle: RePEc:eee:joecag:v:19:y:2021:i:c:s2212828x21000190