Development Centre Studies

OECD Development Centre

1990-0295 (online)
1563-4302 (print)
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This series of monographs from the OECD Development Centre covers development issues generally and in some cases issues in specific countries. It  includes Angus Maddison’s books containing long-term historical estimates of GDP for various areas of the world.

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The Second-Generation Pension Reforms in Latin America

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OECD Development Centre

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Monika Queisser
30 Sep 1998
9789264163614 (PDF) ;9789264161290(print)

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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 reforms in Latin America to date, evaluates the first years of operations of the new systems and outlines the problems and challenges which the systems are still facing. The basic common feature of the "second generation" pension reforms in Latin America is a greater role for funded, privately managed pensions. 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 pension 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.

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Table of Contents

Executive Summary
Chapter 1. The Crisis of Old Age in Latin America
Chapter 2. Adapting the Chilean Model: The Second-Generation Pension Reforms in Latin America
Chapter 3. Financing the Transition towards Funded Systems
Chapter 4. Reform Results and Performance of the New Systems
Chapter 5. Challenges for Pensions Policy in Latin America
Chapter 6. Lessons for OECD Countries
Annex 1. Pension Reform in Peru
Annex 2. Pension Reform in Colombia
Annex 3. Pension Reform in Argentina
Annex 4. Pension Reform in Uruguay
Annex 5. Pension Reform in Mexico
Annex 6. Pension Reform in Bolivia
Annex 7. Pension Reform in El Salvador

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