Redistribution, Insurance and Incentives to Work in Latin American Pension Programs
Alvaro Forteza () and
Guzmán Ourens ()
No 1810, Documentos de Trabajo (working papers) from Department of Economics - dECON
We present a new database of social security indicators for eleven Latin American countries designed to show how much they promise to pay in return to contributions. The indicators are based on micro-simulations according to existing norms. Our results indicate that most programs are progressive. In most programs, retirement ages do not have a sizeable impact on the rates of return, given the length of service. The length of service has a strong impact on the expected returns to contributions, mostly due to vesting period conditions. Because of this, several pension programs in Latin America may be exacerbating income risk.
Keywords: Latin America; Social Security; Internal Rate of Return. (search for similar items in EconPapers)
JEL-codes: H55 J14 J26 (search for similar items in EconPapers)
Pages: 35 pages
New Economics Papers: this item is included in nep-age, nep-cis, nep-cmp, nep-ias, nep-lab and nep-ltv
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Journal Article: Redistribution, insurance and incentives to work in Latin-American pension programs (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ude:wpaper:1810
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