Using data collected in a survey on risk, and social insurance in Chile, the author funds that workers who entered the labor market after the pension reform of 1981, have a greater "contribution density" than those who contributed to the previous social security system. Further, the expectation...

Many Latin American governments have radically restructured their old age income security systems, starting with Chile's 1981 pension reform. The reforms move national pension system from purely social to largely individual responsibility; from risk pooling to individual savings accounts. They...