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Redistribution, Insurance and Incentives to Work in Latin American Pension Programs

Author

Listed:
  • Alvaro Forteza

    () (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

  • Guzmán Ourens

    () (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

We 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.

Suggested Citation

  • Alvaro Forteza & Guzmán Ourens, 2010. "Redistribution, Insurance and Incentives to Work in Latin American Pension Programs," Documentos de Trabajo (working papers) 1810, Department of Economics - dECON.
  • Handle: RePEc:ude:wpaper:1810
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    Cited by:

    1. Alvaro Forteza, 2015. "Are social security programs progressive?," IZA World of Labor, Institute for the Study of Labor (IZA), pages 172-172, July.
    2. Pedro Moncarz, 2015. "Implicit redistribution within Argentina’s social security system: a micro-simulation exercise," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 24(1), pages 1-35, December.
    3. repec:spr:laecrv:v:24:y:2015:i:1:p:1-35 is not listed on IDEAS
    4. repec:lap:journl:598 is not listed on IDEAS
    5. 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.
    6. 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.

    More about this item

    Keywords

    Latin America; Social Security; Internal Rate of Return.;

    JEL classification:

    • 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

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