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Keeping the Promise of Social Security in Latin America

Autor: Gill, Indermit S.; Packard, Truman; Yermo, Juan
Año: 2005
Resumen: Nations around the world (both large and small, rich and poor) are engaged in debate over how to reform their social security systems and care for the aged. For many countries this debate requires speculation on hypothetical scenarios, but in Latin America a rich body of experience on social security reform has been accumulating for more than a decade (for Chile, more than two decades). This report, entitled, Keeping the Promise of Social Security in Latin America, takes stock of those reforms, evaluates their successes and failures, and considers the lessons that can be drawn for the future of pension policy in the region. The authors draw on a series of background papers and surveys commissioned specifically for this inquiry, as well as existing research conducted by themselves and other pension experts. In the debate on pension reform there is no orthodoxy, as reflected in major differences of opinion among leading experts. Despite more than a decade of experience with pension reform in Latin America, although undoubtedly a major step forward, reforms are still works in progress. This report furthers enrich the policy dialogue that is of crucial importance to the future of the region.

Fuente: World Bank
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Libros
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South Asia : Pension Schemes for the Formal Sector, Emerging Challenges and Opportunities for Reform

Autor: Banco Mundial
Año: 2005
Resumen: For centuries informal arrangements such as intra-family transfers have been the primary source of old-age income support in South Asia. That remains true even today. Current patterns suggest that only around 1 in 10 of South Asia's half a billion workers will enter old age with a pension related to pre-retirement earnings. Pension schemes in South Asia cover small shares of the population, concentrated in the formal sector (table 1). Retirement income plans for the formal sector have for the most part performed poorly-both for their participants and for the economy. But while several countries in the region are exploring or already introducing reforms of civil service pension schemes, the performance of retirement income schemes available to the rest of the formal sector has received far less attention. The policy framework for most of these programs has barely changed since they were created, in some cases nearly half a century ago. Moreover, these schemes involve even more complex political economy issues, because governments have often used their funded (or partially funded) structures to address fiscal gaps. Now is a critical time to consider more broadly the problems affecting retirement income schemes for the formal sector. The two defined benefit programs in India and Pakistan, for example, have not yet matured. As time passes, future pension promises will become more deeply entrenched, making reform even more challenging. And as funded plans continue to grow, there is a risk of further misallocation of savings. Perhaps more important, there are encouraging signs of economic growth in the region and thus good possibilities for expanding the coverage of these programs. But even as a growing number of younger workers join the formal labor market and thus formal retirement schemes, urbanization is likely to weaken traditional informal arrangements for the elderly, including intra-family transfers. Strengthening retirement income schemes for the formal sector will help the region better prepare for the demographic change occurring over the next half century. This report seeks to provide a framework for improving the performance of pension schemes for the formal sector. After an introduction, Chapter 2 examines civil service pension schemes, chapter 3 focuses on mandatory private sector schemes, chapter 3 discusses the expansion of voluntary retirement savings arrangements, and chapter 5 is directed toward improving the business environment for retirement savings schemes. Chapter 6 presents conclusions.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
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The Role of choice in the Transition to a Funded Pension System

Autor: Banco Mundial
Año: 2005
Resumen: The transition from a wholly public, pay-as-you go pension system to one where pensions are also provided by individual, privately managed pension accounts does not directly affect those receiving pensions at the time of the reform. Nevertheless, it could affect all current and future workers. A critical policy choice is whether these workers should be allowed, encouraged or forced to divert their pension contributions to the new private element. The note continues with an in depth analysis of the spectrum of switching strategies; and further, describes the objectives of a successful reform. First, the new scheme should aim to provide a reasonable level of retirement income. Secondly, the benefit level must be consistent with long-run fiscal policy. The diversion of payroll taxes from financing current pay-as-you-go pensions into the funded scheme will increase deficits at first, so short-term fiscal constraints are also important. Thirdly, pension reform has microeconomic objectives: improve the workings of capital and labor markets. Finally, the reform must be politically palatable. Some of the note conclusions are : older workers are best excluded from reforms, because there is little time to build substantial funds in the new private scheme; a mandatory cut-off age is arbitrary and leads to political or legal challenges; and Governments can and should manage the switching process, by altering incentives and ensuring people make informed choices.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
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Social Security Coverage and the Labor Market in Developing Countries

Autor: Auerbach, Paula; Genoni, María Eugenia; Pagés, Carmen
Año: 2005
Resumen: This paper analyzes the reasons behind the low rates of contribution to social security programs in developing countries. Using a large set of harmonized household surveys from Latin America we compare contribution patterns among wage employees, for whom participation is compulsory, with contribution patterns among self-employed workers, for whom participation is often voluntary. In all countries, contribution rates among salaried workers are similarly correlated with education, earnings, size of the employer, household characteristics and age. In addition, contribution patterns among salaried workers are highly correlated with contribution patterns among the self-employed. Our results indicate that on average more than 30 percent of the explained within-country variance in contributions patterns may be accounted for by individuals low willingness to participate in old-age pension programs. Nonetheless, we also find evidence suggesting that some workers are rationed out of social security against their will.

Fuente: Banco Interamericano de Desarrollo (BID)
Clasificación: Mercado Laboral
Tipo de Publicación: Documentos de Trabajo
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Desafíos Actuariales de la creación y sostenibilidad del Régimen de Capitalización Colectiva en la Junta de Pensiones y Jubilaciones del Magisterio Nacional (JUPEMA)

Autor: Tuk Mena, Juan Rafael
Año: 2005
Resumen: La tesis pretende demostrar las razones que justifican la sostenibilidad de la creación del Régimen de Capitalización Colectiva (RCC) como una alternativa positiva para los beneficiarios, en el sentido de que cuando se decidió cerrar el régimen vigente, en el año 1992 por medio de la Ley 7302 Ley Marco de Pensiones, permitiera que los docentes continuaran con su propio régimen de pensiones, con la condición de que el nuevo régimen garantizara las prestaciones de los administrados, bajo el alero de los principios informadores de la seguridad social y que a la vez el régimen fuera actuarialmente estable, la cual se espera lograr, que a través de los próximos 45 años desaparecer el déficit y así, cuando se utilicen las reservas, se pueda cubrir la población jubilada y pensionada. En la actualidad el régimen se sostiene por las reservas producto de los títulos de inversión que se encuentran principalmente en el portafolio correspondiente a títulos de Ministerio de Hacienda, BCCR y del sector bancario público.

Fuente: Centro Interamericano de Estudios de Seguridad Social (CIESS)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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