Assessing Chile's Pension System: Challenges and Reform Options

Assessing Chile's Pension System: Challenges and Reform Options
Author: Samuel Pienknagura
Publisher: International Monetary Fund
Total Pages: 52
Release: 2021-09-10
Genre: Business & Economics
ISBN: 151359611X

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.

Pensions at a Glance 2019 OECD and G20 Indicators

Pensions at a Glance 2019 OECD and G20 Indicators
Author: OECD
Publisher: OECD Publishing
Total Pages: 224
Release: 2019-11-27
Genre:
ISBN: 9264876103

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

OECD Reviews of Pension Systems: Portugal

OECD Reviews of Pension Systems: Portugal
Author: OECD
Publisher: OECD Publishing
Total Pages: 166
Release: 2019-03-20
Genre:
ISBN: 9264313737

This review builds on the OECD’s best practices in pension design and provides policy recommendations on how to improve the Portuguese pension system, detailing the Portuguese pension system and its strengths and weaknesses based on cross-country comparisons. The Portuguese pension system ...

Pensions at a Glance 2021 OECD and G20 Indicators

Pensions at a Glance 2021 OECD and G20 Indicators
Author: OECD
Publisher: OECD Publishing
Total Pages: 224
Release: 2021-12-08
Genre:
ISBN: 9264641335

The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.

Private Pensions Series Supervising Private Pensions: Institutions and Methods

Private Pensions Series Supervising Private Pensions: Institutions and Methods
Author: OECD
Publisher: OECD Publishing
Total Pages: 336
Release: 2004-12-03
Genre:
ISBN: 9264016988

Supervising Private Pensions: Institutions and Methods offers detailed and comparable information on the supervisory agencies, institutional design and methods in over 40 countries in the OECD area, Latin America, Eastern Europe and South-east Asia.

The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
Total Pages: 86
Release: 2013-01-25
Genre: Business & Economics
ISBN: 147556631X

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 increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Social Security as a Human Right

Social Security as a Human Right
Author: Eibe H. Riedel
Publisher: Springer Science & Business Media
Total Pages: 191
Release: 2006-11-07
Genre: Law
ISBN: 3540314695

An International Expert Workshop on the Right to Social Security was held in April 2005 at the German Institute for Human Rights, whose purpose was to highlight specific issues of the right to social security which should be addressed by the Committee when drafting a General Comment on article 9. The results of this workshop are published in this volume providing an insight into the current challenges on social security as a human right.

Joint Report on Pensions

Joint Report on Pensions
Author:
Publisher:
Total Pages: 96
Release: 2010
Genre: Old age pensions
ISBN:

Recoge: 1. An introduction to pensions reform- 2. A decade in pension reform in the EU - 3. The impact of the crisis - 4. Policy challenges over the long-term - 5. Policy implications.