A Quarter Century of Pension Reform in Latin America and the by Carolin A. Crabbe PDF

By Carolin A. Crabbe

ISBN-10: 1597820202

ISBN-13: 9781597820202

The social safety equation is worsening around the globe with the elderly inhabitants growing to be quicker than the exertions strength. within the final twenty years of the 20 th century, the Latin American and the Caribbean quarter used to be confronted with what appeared insurmountable problems during this regard. Social safety costs had grown with the inflation and upward alterations of wages and frequent tax evasion. inside this framework, a number of nations within the zone undertook a profound overhaul in their social safety platforms, exchanging them totally or partly with a privately controlled and invested approach. those far-reaching reforms have replaced the way in which social protection is seen and, consequently, policymakers world wide are the event of the sector. 1 / 4 Century of Pension Reform in Latin the US and the Caribbean presents an research of those reforms, what labored good, what didn't, what are the teachings discovered and what are the subsequent steps.

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Additional info for A Quarter Century of Pension Reform in Latin America and the Caribbean: Lessons Learned and Next Steps

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This chapter is an updated summary of Mesa-Lago (2004). 43 Copyright © by the Inter-American Development Bank. All rights reserved. org/pub 2 CHAPTER all twelve), it analyzes the challenges facing reformers and proposes policies to resolve some of them. These challenges include coverage of the labor force, collection of contributions, competition among pension fund managers, administrative costs, capital accumulation and the impact on national savings, the fiscal cost of the transition, development of the capital markets and portfolio diversification, real return on the investment, the amount of the pension, gender equity, and solidarity.

This has led to questions of how to protect portfolios in the future and how to engender confidence among the people in their pension systems. The second part of the equation, restoring confidence and assuring citizens that the government will act responsibly, encompasses a plethora of measures in areas other than pension reform. Another effect of the requirement that such a large portion of the portfolios be held in government securities has been the crowding out of financing of the private sector through bonds and equities.

A. a. a. a. a. a. a. a. a. a. a. a. a. a. a. a. Not applicable (years before the reform). Source: World Bank 2005; AIOS Statistical Bulletin No. 12, December 2004. 27 Copyright © by the Inter-American Development Bank. All rights reserved. 8 Source: World Bank, World Development Indicators, 2005, and IMF, 2004. capitalization, which measures the overall size of the market, has remained relatively small throughout the region. While the region’s market capitalization in 2003 represented about a third of GDP, it has not kept pace with other regions of the world such as Asia, where it represents over 50 percent of GDP, or the United States and the United Kingdom, where it exceeds GDP.

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A Quarter Century of Pension Reform in Latin America and the Caribbean: Lessons Learned and Next Steps by Carolin A. Crabbe


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