Reforming the Pension Reforms : The Recent Initiatives and Actions on Pensions in Argentina and Chile
This paper describes the recent reforms of pension policies adopted by Argentina and Chile. The structural reforms in the 1980s and 90s were targeted on improving the long term fiscal sustainability of the system and their institutional design, whi...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2008/05/20170223/reforming-pension-reforms-recent-initiatives-actions-pensions-argentina-chile http://hdl.handle.net/10986/20200 |
| Summary: | This paper describes the recent reforms
of pension policies adopted by Argentina and Chile. The
structural reforms in the 1980s and 90s were targeted on
improving the long term fiscal sustainability of the system
and their institutional design, while transferring part of
the economic and social risks from the State to
participants. However, in recent year s authorities in both
countries coincided on identifying insufficient coverage
among the elderly and adequacy of benefits as the most
critical problems. As a result of differences in political
economy and institutional constraints, responses were
different. In Chile, a long and participatory process
resulted in a large reform that focuses on impacts on the
medium term, through a carefully calibrated adjustment. In
Argentina, instead, reforms were adopted through a large
number of successive normative corrections, with little
public debate about their implications, and immediate
impacts on coverage and fiscal demands. |
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