In 1980-2005, 11 Latin American countries (out of a total of 20) implemented structural reforms ("privatization") in their pension systems, totally or partially shifting them from defined benefit, PAYG, and public administration toward defined contribution, fully funded financing, and private...

In 1980, Chile dramatically reformed its retirement system, replacing what was an old insolvent PAYGO program with a new structure that relies heavily on funded defined contribution individual accounts. In addition, eligibility and benefit requirements were standardized, and a safety net for...

This article briefly explains the main features of public and private pension systems, as well as structural and parametric pension reforms. Its core compares performance, within Latin America, between private pension systems in ten countries and public pension systems in eight countries, based...