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Pensions at a Glance

Latin America and the Caribbean

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This comprehensive examination of pension systems in Latin America and the Caribbean looks at recent trends in retirement and working at older ages, evolving life expectancy, design of pension systems, and pension entitlements before providing a series of country profiles. The special chapter analyses the coverage and adequacy of Latin American pension systems.

 

 

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Gross pension replacement rates

The gross replacement rate shows the level of pensions in retirement relative to earnings when working. For workers with average earnings, the gross replacement rate averages 62% in the 26 LAC countries. But there is significant cross-country variation. At the bottom of the range, the Dominican Republic, Haiti, Mexico and Suriname offer future replacement rates of less than 30% for people starting work today with average earnings throughout their career. Ecuador, Nicaragua, Paraguay and Venezuela, at the top of the range, offer replacement rates of more than 90%. Other countries with high projected replacement rates (between 75% and 80%) are Argentina, Costa Rica and Panama.

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