Redistribution, Insurance and Incentives to Work in Latin American Pension Programs
AbstractWe present a new database of social security indicators for eleven Latin American countries designed to show how much they promise to pay in return to contributions. The indicators are based on micro-simulations according to existing norms. Our results indicate that most programs are progressive. In most programs, retirement ages do not have a sizeable impact on the rates of return, given the length of service. The length of service has a strong impact on the expected returns to contributions, mostly due to vesting period conditions. Because of this, several pension programs in Latin America may be exacerbating income risk.
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Bibliographic InfoPaper provided by Department of Economics - dECON in its series Documentos de Trabajo (working papers) with number 1810.
Length: 35 pages
Date of creation: Oct 2010
Date of revision:
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Latin America; Social Security; Internal Rate of Return.;
Other versions of this item:
- Forteza, Alvaro & Ourens, Guzmán, 2012. "Redistribution, insurance and incentives to work in Latin-American pension programs," Journal of Pension Economics and Finance, Cambridge University Press, vol. 11(03), pages 337-364, July.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
This paper has been announced in the following NEP Reports:
- NEP-AGE-2011-02-19 (Economics of Ageing)
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
- NEP-CMP-2011-02-19 (Computational Economics)
- NEP-IAS-2011-02-19 (Insurance Economics)
- NEP-LAB-2011-02-19 (Labour Economics)
- NEP-LTV-2011-02-19 (Unemployment, Inequality & Poverty)
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- Alvaro Forteza, 2011. "Assessing Redistribution within Social Insurance Systems.The cases of Argentina, Brazil, Chile, Mexico and Uruguay," Documentos de Trabajo (working papers) 1311, Department of Economics - dECON.
- Alvaro Forteza & Irene Mussio, 2012.
"Assessing Redistribution in the Uruguayan Social Security System,"
Journal of Income Distribution,
Journal of Income Distribution, vol. 21(1), pages 65-87, March.
- Alvaro Forteza & Irene Mussio, 2011. "Assessing Redistribution in the Uruguayan Social Security System," Documentos de Trabajo (working papers) 1211, Department of Economics - dECON.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Irene Musio) or (Héctor Pastori).
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