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Extending coverage in multi-pillar pension systems : constraints and hypotheses, preliminary evidence and future research agenda

Author

Listed:
  • Holzmann, Robert
  • Packard, Truman
  • Cuesta, Jose

Abstract

This report provides a set of preliminary hypotheses and exploratory econometric testing to explain low rates of participation in reformed social security systems, with special emphasis on two Latin American countries. The hypotheses claim that the working poor and self-employed continue to have a specific and strong rationale for avoiding participation in the multi-pillar pension ysstem and that transaction costs, system design issues, and problems of credibility negatively influence the decision of all members of the labor force to participate. Some of the established hypotheses have been subjected to exploratory econometric testing using available household survey data for Chile and Argentina. The results support the conjecture that socioeconometric characteristics matter for non-participation, and that the poor, the uneducated, and the self-employed pose a special challenge to the extension of pensions coverage. The paper outlines a research strategy, including a more social security-focused survey and comparative analyses, to confirm the results presented in this paper, and to test those hypotheses related to the different pension institutions reforming governments have chosen to put in place. Work in this vein has already begun.

Suggested Citation

  • Holzmann, Robert & Packard, Truman & Cuesta, Jose, 2000. "Extending coverage in multi-pillar pension systems : constraints and hypotheses, preliminary evidence and future research agenda," Social Protection and Labor Policy and Technical Notes 21303, The World Bank.
  • Handle: RePEc:wbk:hdnspu:21303
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    Citations

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    Cited by:

    1. Bucheli, Marisa & Forteza, Alvaro & Rossi, Ianina, 2008. "Work history and the access to contributory pensions in Uruguay : some facts and policy options," Social Protection and Labor Policy and Technical Notes 90345, The World Bank.
    2. Doling, John & Vandenberg, Paul & Tolentino, Jade, 2013. "Housing and Housing Finance—A Review of the Links to Economic Development and Poverty Reduction," ADB Economics Working Paper Series 362, Asian Development Bank.
    3. Packard,Truman G., 2001. "Is there a positive incentive effect from privatizing social security : evidence from Latin America," Policy Research Working Paper Series 2719, The World Bank.
    4. Abigail Barr & Truman G. Packard, 2005. "Seeking solutions to Vulnerability in Old Age: Preferences, constraints, and alternatives for coverage under Peru’s pension system," CSAE Working Paper Series 2005-05, Centre for the Study of African Economies, University of Oxford.
    5. Willmore, Larry, 2007. "Universal Pensions for Developing Countries," World Development, Elsevier, vol. 35(1), pages 24-51, January.
    6. William Adzawla & Shaibu Azumah Baanni & Roger Fianko Wontumi, 2015. "Factors influencing informal sector workers` contribution to pension scheme in the tamale metropolis of Ghana," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 5(2), pages 37-45, February.
    7. Li, Carmen A & Olivera, Javier, 2005. "Participation in the Peruvian reformed pension system," Economics Discussion Papers 3618, University of Essex, Department of Economics.
    8. Abigail Barr, 2003. "Risk pooling, commitment and information: An experimental test of two fundamental assumptions," Framed Field Experiments 00124, The Field Experiments Website.
    9. Abigail Barr & Garance Genicot, 2008. "Risk Sharing, Commitment, and Information: An Experimental Analysis," Journal of the European Economic Association, MIT Press, vol. 6(6), pages 1151-1185, December.

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