A model for the pension system in Mexico: diagnosis and recommendations

Javier Alonso, Carmen Hoyo and David Tuesta

No 1408, Working Papers from BBVA Bank, Economic Research Department

Abstract: The reform of the pension system of the Mexican Social Security Institute (IMSS) in 1997, limited the growing fiscal cost of the previous pay-as-you-go scheme. Sixteen years on from its creation, the Retirement Savings System (SAR) has had favourable macroeconomic effects for Mexico, as it has significantly increased financial savings and encouraged the development of local financial markets. The reform of the pension system of the Mexican Social Security Institute (IMSS) in 1997, limited the growing fiscal cost of the previous pay-as-you-go scheme. Sixteen years on from its creation, the Retirement Savings System (SAR) has had favourable macroeconomic effects for Mexico, as it has significantly increased financial savings and encouraged the development of local financial markets.

Keywords: replacement rates; defined contributio; pensions (search for similar items in EconPapers)
JEL-codes: G23 H55 J11 J26 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2014-02
New Economics Papers: this item is included in nep-age, nep-dem and nep-sog
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: A model for the pension system in Mexico: diagnosis and recommendations* (2015)
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