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Social Security Reforms in Colombia

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  • Sergio Clavijo
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    Abstract

    This paper analyzes the economic rationale for adopting parametric pension reforms and reforms broadening the coverage of public health care in Colombia during 1993-2008. Parametric pension reforms have focused on increasing the retirement age and moderating replacement rates. The health system reforms aimed at reaching universal coverage by 2012, while providing a more homogenous level of services. Our results indicate that the Net Present Value of the debt of the social security system in Colombia is roughly 160 percent of GDP for pensions and about 97 percent of GDP for the health system.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/58.

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    Length: 33
    Date of creation: 01 Mar 2009
    Date of revision:
    Handle: RePEc:imf:imfwpa:09/58

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    Related research

    Keywords: Fiscal reforms; Labor market policy; Health care; Government expenditures; Social safety nets; pension; retirement; retirement age; replacement rates; paygo; pensions; pension reforms; pension benefits; health system; life expectancy; payroll taxes; health care system; pension contributions; health care spending; pension liabilities; age of retirement; retirement ages; pension obligations; pension coverage; health care sector; pension system; pension reform; labor force; health care expenditures; private pension; public system; contingent liabilities; health care reforms; health care services; public pension; pension payments; pension systems; life expectancies; replacement rate; pensioners; retirement dates; annuity payments; payroll tax; private pension systems; formal pension; pay-as-you-go system; health care reform; universal pension; old-age pension; contribution rates; pension plan; current pensions; health systems; long-term care; public pensions; private pensions; contingent liability; minimum pension; pension reserves; pension expenditure; public pension reform;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. A. Kugler, M. Kugler, 2008. "Labour Market Effects of Payroll Taxes in Developing Countries: Evidence from Colombia," Working Papers eg0056, Wilfrid Laurier University, Department of Economics, revised 2008.
    2. Alain Jousten, 2007. "Public Pension Reform: A Primer," IMF Working Papers 07/28, International Monetary Fund.
    3. Mauricio Cardenas & Raquel Bernal, 2003. "Determinants of Labor Demand in Colombia: 1976-1996," NBER Working Papers 10077, National Bureau of Economic Research, Inc.
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