The Second Generation Pension Reforms in Latin America (OECD Proceedings)

Book Description:

More than a decade after Chile moved from a public pay-as-you-go to a private funded pension system, seven more countries in Latin America have reformed their pension systems. This study provides a detailed description of all second-generation pension systems in Latin America to date, evaluates the first years of operation of the new systems, and outlines the problems and challenges which the systems are still facing. A move towards more funding is currently also discussed in many OECD countries as one possibility to confront the effects of ageing populations on pay-as-you-go systems. Thus, the Latin American reform experience is interesting not only for other developing countries about to embark on pension reform, but also for policymakers and pension experts in OECD countries and transition economies.