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Reversing pension privatization rebuilding public pension systems in Eastern Europe and Latin American countries (2000-18)

Author

Listed:
  • Ortiz, Isabel,
  • Durán Valverde, Fabio.
  • Urban, Stefan.
  • Wodsak, Veronika.
  • Yu, Zhiming.

Abstract

From 1981 to 2014, thirty countries privatized fully or partially their public mandatory pensions; as of 2018, eighteen countries have reversed the privatization. This report: (i) analyses the failure of mandatory private pensions to improve old-age income security and their underperformance in terms of coverage, benefits, administrative costs, transition costs, social and fiscal impacts, and others; (ii) documents the reversals of pension privatization, the laws, governance, new entitlements, financing and contribution rates of the new public pension systems; (iii) provides guidance on the key policy steps to reverse pension privatization, for those countries considering returning back to a public system.

Suggested Citation

  • Ortiz, Isabel, & Durán Valverde, Fabio. & Urban, Stefan. & Wodsak, Veronika. & Yu, Zhiming., 2018. "Reversing pension privatization rebuilding public pension systems in Eastern Europe and Latin American countries (2000-18)," ILO Working Papers 995005393302676, International Labour Organization.
  • Handle: RePEc:ilo:ilowps:995005393302676
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    Citations

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    Cited by:

    1. Ishay Wolf, 2022. "Studying the equilibrium of pension designs when shifting to funded pension schemes: economic theory and links to political factors," SN Business & Economics, Springer, vol. 2(7), pages 1-21, July.
    2. Artem Lukyanets & Igor Okhrimenko & Maria Egorova, 2021. "Population Aging and Its Impact on the Country's Economy," Social Science Quarterly, Southwestern Social Science Association, vol. 102(2), pages 722-736, March.
    3. Cruz-Martinez, Gibran, 2019. "Comparative social policy in contemporary Latin America: Concepts, theories and a research agenda," SocArXiv ygh8d, Center for Open Science.

    More about this item

    Keywords

    pension scheme; social protection.;

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