REFORMING PENSIONS IN CHILE

• Authors: Barr Nicholas , Diamond Peter
• Languages of publication: EN

Abstracts

EN

This paper argues that experience in Chile demonstrates (a) problems with fully-funded defined-contribution individual accounts that were both predictable and predicted, and (b) a mostly rational evolutionary approach to addressing those problems. Section 2 briefly outlines the 1981 system and its problems. Section 3 discusses strategic reform in 2008 which addressed some of those problems. Section 4 – the main focus of the paper – discusses the unfinished business left by the 2008 reforms and sets out the main proposals of the 2015 Bravo Commission, including its 58 specific proposals, which commanded majority support from the Commissioners, and its three very different Global Proposals, about organising and financing the system, which are highly controversial.

Keywords

EN

Chile; pension system; strategic reform; organising and financing the system

• Publisher: Institute of Labor and Social Studies, Warsaw
• Journal: Polityka Społeczna
• Year: 2016
• Volume: 43
• Issue: 1 (12) OLD-AGE PENSION SYSTEMS OUTSIDE EUROPE
• Pages: 4–8

Contributors

author

Barr Nicholas

• London School of Economics, United Kingdom

author

Diamond Peter

• London School of Economics, United Kingdom; Massachusetts Institute of Technology, United State of America

References

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