IDEAS home Printed from https://ideas.repec.org/p/ecr/col035/5188.html
   My bibliography  Save this paper

The Latin American experience in pension system reform: coverage, fiscal issues and possible implications for China

Author

Listed:
  • Titelman Kardonsky, Daniel
  • Vera, Cecilia
  • Pérez Caldentey, Esteban

Abstract

In the past two decades, Latin American countries reformed their pension systems focusing mainly on addressing the weaknesses of the contributory schemes - fiscal unsustainability, low coverage levels and a high degree of segmentation- and barely addressed the non-contributory element. The reform experiences show however that the intended reforms did not manage to meet their objectives. Firstly, to this day, a large proportion of the population remains inadequately covered by the contributory system. Secondly, the fiscal performance and outcome of the reform was worse than originally planned. The possibilities for the success of these reforms faced several constraints of a structural nature that are independent of the pension system itself and that as a result can not be overcome by a pension reform including mainly the limited savings capacity of some population groups and the instability and precariousness of the labor markets in the region. The Latin American experience shares similarities with that of China in terms of coverage, labor market informality. Both cases attest to the importance of combining contributory and non-contributory components in pension reform design.

Suggested Citation

  • Titelman Kardonsky, Daniel & Vera, Cecilia & Pérez Caldentey, Esteban, 2009. "The Latin American experience in pension system reform: coverage, fiscal issues and possible implications for China," Financiamiento para el Desarrollo 210, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  • Handle: RePEc:ecr:col035:5188
    Note: Includes bibliography
    as

    Download full text from publisher

    File URL: http://repositorio.cepal.org/handle/11362/5188
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Rafael Rofman & Leonardo Lucchetti & Guzmán Ourens, 2010. "Pension Systems in Latin America: Concepts and Measurements of Coverage," Documentos de Trabajo (working papers) 0510, Department of Economics - dECON.
    2. Dewen Wang, 2006. "China's Urban and Rural Old Age Security System: Challenges and Options," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 14(1), pages 102-116.
    3. Uthoff, Andras, 2001. "La reforma del sistema de pensiones en Chile: desafíos pendientes," Financiamiento para el Desarrollo 112, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Johannes P. Jütting & Jante Parlevliet & Theodora Xenogiani, 2008. "Informal Employment Re-loaded," OECD Development Centre Working Papers 266, OECD Publishing.
    5. Mesa-Lago, Carmelo, 2004. "Evaluación de un cuarto de siglo de reformas estructurales de pensiones en América Latina," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    6. Marisa Bucheli & Natalia Ferreira-Coimbra & Alvaro Forteza & Ianina Rossi, 2005. "El acceso a la jubilación o pensión en Uruguay: ¿cuántos y quiénes lo lograrían?," Documentos de Trabajo (working papers) 0106, Department of Economics - dECON.
    7. Natalia Ferreira-Coimbra & Alvaro Forteza, 2005. "Can Latin America Protect the Elderly with Non-Contributory Programmes? The Case of Uruguay," Development Policy Review, Overseas Development Institute, vol. 23(6), pages 683-702, November.
    8. Felix Salditt & Peter Whiteford & Willem Adema, 2007. "Pension Reform in China: Progress and Prospects," OECD Social, Employment and Migration Working Papers 53, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:unu:wpaper:wp2012-14 is not listed on IDEAS
    2. Keifman, Saúl & Maurizio, Roxana, 2012. "Changes in Labour Market Conditions and Policies: Their Impact on Wage Inequality During the Last Decade," WIDER Working Paper Series 014, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    PENSIONES; REFORMA ADMINISTRATIVA; POLITICA FISCAL; INGRESOS; IGUALDAD; SEGURIDAD SOCIAL; DATOS ESTADISTICOS; PENSIONS; ADMINISTRATIVE REFORM; FISCAL POLICY; INCOME; EQUALITY; SOCIAL SECURITY; STATISTICAL DATA;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecr:col035:5188. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Biblioteca CEPAL). General contact details of provider: http://edirc.repec.org/data/eclaccl.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.