El incremento del riesgo de longevidad viene imponiendo retos importantes en las economias. Las industrias como la de seguros y pensiones, que se encuentran mas directamente relacionadas a la gestion de los riesgos de vejez, han venido experimentando desde hace varios anos efectos directos, lo...

The increase in longevity risk is leading to serious challenges for economies. Industries such as insurance and pensions, which are most closely related to the management of the risks of an aging population, have for a number of years experienced direct effects of this kind. To counterbalance...

En este documento analizamos los costes fiscales a corto y medio plazo derivados de la reforma estructural del sistema de pensiones, tomando a Chile como ejemplo. El sistema de pensiones chileno, basado en cuentas de capitalizacion individual gestionadas por el sector privado esta funcionando...

Low contribution levels to pension schemes in Latin America are an enormous obstacle limiting the implementation of a broad-based social security system. Contribution rates measured as a ratio of contributors to the total labour force stand at an average of 40%, or 60% in the best of cases....

This paper presents a brief history of pension reform in Chile, and the reasons behind the introduction of individual privately-managed accounts in 1981, as well as the adjustments to the system introduced in 2006-07. The main conclusions are that the system is sound, but the reinforcement of...

In this paper we analyze the short and medium term fiscal costs stemming from structural pension reform, taking Chile as workhorse. The Chilean pension system, based on individual capital accounts managed by the private sector, has been in operation for almost 30 years, providing a rich evidence...