Pension Reform: Lessons from Latin America
Abstract• There are benefits from Latin American pension reform, but they have been overestimated. • The approaches taken in second-generation reforms and their still early results hold lessons for OECD and non-OECD countries alike. • A partial shift to funding is feasible and can be financed in different ways; partial funding of pensions can lead to greater risk diversification. • High administrative costs and uniformity of investment portfolios make the new systems inefficient; pension regulation has to be designed and implemented to lessen these negative effects.
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Bibliographic InfoPaper provided by OECD Publishing in its series OECD Development Centre Policy Briefs with number 15.
Date of creation: 01 Jan 1999
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