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Income Gap by Gender: Perpetuated or Exacerbated when Old?

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  • Solange Berstein
  • Andrea Tokman

Abstract

Many countries have switched from a pay-as-you-go pension systems to a fully funded scheme with individual accounts. These fully funded systems are commonly implemented as defined contribution schemes, so that the final benefits paid are uncertain and closely related the contribution profile. Therefore, different labor market participation rates and different wages between genders do not only have an impact on earnings during the working period, but also during retirement. Besides, some special features of the Chilean System augment that phenomena and some do the opposite. This article analyses why the relative income position of women with respect to men gets worse off in the old age and how different features of the system, the labor market and the individual affect that.

Suggested Citation

  • Solange Berstein & Andrea Tokman, 2005. "Income Gap by Gender: Perpetuated or Exacerbated when Old?," Working Papers Central Bank of Chile 334, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:334
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    File URL: https://www.bcentral.cl/documents/33528/133326/DTBC_334.pdf
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    References listed on IDEAS

    as
    1. Gert Wagner, 1991. "La seguridad social y el programa de pensión mínima garantizada," Estudios de Economia, University of Chile, Department of Economics, vol. 18(1 Year 19), pages 33-91, June.
    2. Bertranou, Fabio M., 2001. "Pension Reform and Gender Gaps in Latin America: What are the Policy Options?," World Development, Elsevier, vol. 29(5), pages 911-923, May.
    3. Solange Berstein & Guillermo Larraín & Francisco Pino, 2005. "Cobertura, densidad y pensiones en Chile: Proyecciones a 20 años plazo," Working Papers 12, Superintendencia de Pensiones, revised Nov 2005.
    4. Truman G. Packard & Indermit S. Gill & Juan Yermo & Todd Pugatch, 2004. "Keeping the Promise of Old Age Income Security in Latin America," World Bank Publications - Reports 10349, The World Bank Group.
    5. repec:ecr:col035:5083 is not listed on IDEAS
    6. James, Estelle & Edwards, Alejandra Cox & Wong, Rebeca, 2003. "The gender impact of pension reform," Journal of Pension Economics and Finance, Cambridge University Press, vol. 2(2), pages 181-219, July.
    7. Jurajda, Stepan & Harmgart, Heike, 2007. "When do female occupations pay more?," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 170-187, March.
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