1887

OECD Reviews of Pension Systems: Peru

image of OECD Reviews of Pension Systems: Peru

This review assesses Peru’s pension system in its entirety, looking at both public and private, pay-as-you-go (PAYG) financed and funded pension provisions. The review then provides policy options to help tackle old-age poverty; establish a solid framework for the contributory pension system to meet its objectives; improve the coverage and level of pensions; and optimise the design and improve the regulation of the funded private pension component. A further goal of these proposals is to improve the Peruvian population’s trust that the country’s pension system will be able to deliver secure retirement income in old age.

The review is the fifth in a series of country reviews of pension systems [Ireland (2014), Mexico (2016), Latvia (2018), and Portugal (2019)]. These reviews provide countries with policy options that will help them improve the functioning of their overall pension system. Tailored policy options are proposed based on the specificities of the national pension system, and on international best practices regarding reforms, design and regulation of pension systems.

English

.

Improving the coverage and level of pensions

This chapter discusses the problem of low coverage and low levels of expected pensions in the Peruvian pension system. It focuses on their main drivers, namely the problem of high informality in the labour market, the low contribution densities and the possibility of early withdrawals and taking lump sums from the private system. The chapter ends with policy options to improve pension coverage and the level of benefits the pension system provides.The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.*

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error