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Author: Patricio Meller Publisher: Paris, France : Development Centre of the Organisation for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre ISBN: Category : Business & Economics Languages : en Pages : 108
Author: Patricio Meller Publisher: Paris, France : Development Centre of the Organisation for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre ISBN: Category : Business & Economics Languages : en Pages : 108
Author: François Bourguignon Publisher: Development Centre of the Organisation for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre ISBN: Category : Social Science Languages : en Pages : 142
Author: Samuel Pienknagura Publisher: International Monetary Fund ISBN: 151359611X Category : Business & Economics Languages : en Pages : 52
Book Description
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.
Author: Patricio Meller
Author: Patricio Meller
Author: 
Author: Luis Riveros C.
Author: Osvaldo Larrañaga
Author: Luis A. Riveros
Author: Archibald R. M. Ritter
Author: François Bourguignon
Author: Ricardo Ffrench-Davis
Author: Samuel Pienknagura
Author: