Assessing Chile's Pension System: Challenges and Reform Options

Assessing Chile's Pension System: Challenges and Reform Options
Author :
Publisher : International Monetary Fund
Total Pages : 52
Release :
ISBN-10 : 9781513596112
ISBN-13 : 151359611X
Rating : 4/5 (11X Downloads)

Book Synopsis Assessing Chile's Pension System: Challenges and Reform Options by : Samuel Pienknagura

Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.


Assessing Chile's Pension System: Challenges and Reform Options Related Books

Assessing Chile's Pension System: Challenges and Reform Options
Language: en
Pages: 52
Authors: Samuel Pienknagura
Categories: Business & Economics
Type: BOOK - Published: 2021-09-10 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’
Pension Reform Options in Chile
Language: en
Pages: 21
Authors: Marika Santoro
Categories: Business & Economics
Type: BOOK - Published: 2017-03-13 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal conside
Privatizing Social Security
Language: en
Pages: 484
Authors: Martin Feldstein
Categories: Political Science
Type: BOOK - Published: 2008-04-15 - Publisher: University of Chicago Press

DOWNLOAD EBOOK

This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social
The Challenge of Public Pension Reform in Advanced and Emerging Economies
Language: en
Pages: 86
Authors: Mr.Benedict J. Clements
Categories: Business & Economics
Type: BOOK - Published: 2013-01-25 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future i
The Rise and Fall of the Privatized Pension System in Chile
Language: en
Pages: 124
Authors: Andrés Solimano
Categories: Business & Economics
Type: BOOK - Published: 2021-02-18 - Publisher: Anthem Press

DOWNLOAD EBOOK

‘The Rise and Fall of the Privatized Pension System in Chile’ focuses on the Chilean experience with a privatised pension system since the early 1980 when l