Reforming old-age pension systems in developing countries: lessons from Latin America

Ana Luiza Cortez Roncada ()

Brazilian Journal of Political Economy, 2000, vol. 20, issue 1, 124-145

Abstract: Latin American countries, pioneered by Chile, have launched bold old age pensionreforms. While these reforms may address issues of financial sustainability of the pensionsystems, their most valuable contribution is related to political economy aspects asthey avoid perverse redistribution within the system and minimise the risk of governmentappropriation. On the negative side, Chilean inspired reforms represent a costly approach toreform; they may lead to concentration within the industry and increase risks faced by theindividual. They do not eliminate evasion, and in some of its versions, they may introduceproblems of adverse selection. More importantly, such reforms do not guarantee that oldage will be free of poverty, which is (or should be) the main objective of a pension system.JEL JEL Classification: J26; H55; J14.

Keywords: Pensions; pension reform; pension system (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org.br/repojs/ind ... ticle/view/1019/1004 (application/pdf)

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: https://EconPapers.repec.org/RePEc:ekm:repojs:v:20:y:2000:i:1:p:124-145:id:1019

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().