The Chilean pension reform of 1981, a shift from an unfunded to a funded scheme, is
considered to have contributed to this country's excellent economic performance. Positive …

Replacing a pay-as-you-go pension system with a fully funded scheme could eliminate the
incentives (under the pay-as-you-go system) to informalize production and employment …

Chilean-style pension reform, leading to the creation of fully-funded privately managed
pension systems, may have significant positive direct effects on savings, growth, and …

Chile pioneered a structural reform in Latin America that privatized its public pension system
and influenced similar reforms in another nine countries. Twenty-five years later, this article …

Proposing far‐reaching reforms to pension systems, the World Bank has recently suggested
that the existing pay‐as‐you‐go systems in many rich as well as poor countries should be …

Substituting a fully-funded system for a pay-as-you-go regime provides potential efficiency
gains in factor markets, can contribute to higher saving, and hence could raise growth. But …

Starting in 1981 with Chile, to the end of 2000, 10 countries in Latin America implemented
structural pension reforms, totally or partially “privatizing” their former public systems. The …

he Chilean pension reform has given rise to significant debate in the last decade. It was the
first pension system in which the core mechanism for producing pensions is individual …

First published in 1998, this volume initially focused on Chilean pension reform, on which
the author has published elsewhere, before moving onto Latin America more widely, with …

Declining fertility, mortality, and productivity rates in developed countries and the popularity
of the social security privatization in Chile as a pathway to financial development have …