Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes

Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes

In 2008, Chile introduced a New Solidarity Pillar (NSP) designed to eliminate the incidence of poverty among elderly adults by setting a floor at around forty percent of the minimum monthly income for the poorest sixty percent of the population. Th...

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Bibliographic Details
Main Author: Fajnzylber, Eduardo
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
PENSION REFORM
SOCIAL PROTECTION
SOCIAL SECURITY
REDISTRIBUTION
PUBLIC PENSIONS
GENDER GAP
DEFINED CONTRIBUTION
Online Access:http://documents.worldbank.org/curated/en/598991556882045322/Chile-s-Solidarity-Pillar-A-Benchmark-for-Adjoining-Zero-Pillar-with-DC-Schemes
http://hdl.handle.net/10986/31638
id okr-10986-31638
recordtype oai_dc
spelling okr-10986-316382021-05-25T09:23:34Z Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes Fajnzylber, Eduardo PENSION REFORM SOCIAL PROTECTION SOCIAL SECURITY REDISTRIBUTION PUBLIC PENSIONS GENDER GAP DEFINED CONTRIBUTION In 2008, Chile introduced a New Solidarity Pillar (NSP) designed to eliminate the incidence of poverty among elderly adults by setting a floor at around forty percent of the minimum monthly income for the poorest sixty percent of the population. This paper describes the NSP’s main characteristics and the main results achieved during its first seven years of operations: coverage, fiscal cost, poverty reduction, and the system’s role in reducing the significant gender gap in pensions. Its effects on incentives to contribute are discussed, as well as the literature that has attempted to measure these effects. Finally, the main challenges facing the NSP and the implications for other countries under defined contribution pension schemes are summarized. 2019-05-06T21:44:17Z 2019-05-06T21:44:17Z 2019-04 Working Paper http://documents.worldbank.org/curated/en/598991556882045322/Chile-s-Solidarity-Pillar-A-Benchmark-for-Adjoining-Zero-Pillar-with-DC-Schemes http://hdl.handle.net/10986/31638 English Social Protection and Jobs Discussion Paper,no. 1910; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper Latin America & Caribbean Chile
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PENSION REFORM
SOCIAL PROTECTION
SOCIAL SECURITY
REDISTRIBUTION
PUBLIC PENSIONS
GENDER GAP
DEFINED CONTRIBUTION
spellingShingle PENSION REFORM
SOCIAL PROTECTION
SOCIAL SECURITY
REDISTRIBUTION
PUBLIC PENSIONS
GENDER GAP
DEFINED CONTRIBUTION
Fajnzylber, Eduardo
Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
geographic_facet Latin America & Caribbean
Chile
relation Social Protection and Jobs Discussion Paper,no. 1910;
description In 2008, Chile introduced a New Solidarity Pillar (NSP) designed to eliminate the incidence of poverty among elderly adults by setting a floor at around forty percent of the minimum monthly income for the poorest sixty percent of the population. This paper describes the NSP’s main characteristics and the main results achieved during its first seven years of operations: coverage, fiscal cost, poverty reduction, and the system’s role in reducing the significant gender gap in pensions. Its effects on incentives to contribute are discussed, as well as the literature that has attempted to measure these effects. Finally, the main challenges facing the NSP and the implications for other countries under defined contribution pension schemes are summarized.
format Working Paper
author Fajnzylber, Eduardo
author_facet Fajnzylber, Eduardo
author_sort Fajnzylber, Eduardo
title Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
title_short Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
title_full Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
title_fullStr Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
title_full_unstemmed Chile’s Solidarity Pillar : A Benchmark for Adjoining Zero Pillar with DC Schemes
title_sort chile’s solidarity pillar : a benchmark for adjoining zero pillar with dc schemes
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/598991556882045322/Chile-s-Solidarity-Pillar-A-Benchmark-for-Adjoining-Zero-Pillar-with-DC-Schemes
http://hdl.handle.net/10986/31638
_version_ 1764474778239893504

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