Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?

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Experts have been pointing out that, although fully funded pension schemes implemented by several Latin American countries gathered political rejection and experienced important setbacks, they were resorted to in response to the problems faced in the eighties and the nineties by unfunded regimes. In...

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Autor principal: Rezk, Ernesto
Formato: Artículo revista
Lenguaje:Inglés
Publicado: Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2013
Materias:
individual capitalization
PAYG
non contributory regimes
coverage
tax compliance
financial sustainability
H55
capitalización individual
sistemas de reparto
sistemas no contributivos
cobertura
cumplimiento tributario
sostenibilidad financiera
Acceso en línea:https://revistas.unc.edu.ar/index.php/REyE/article/view/11879
Aporte de:
Revistas de la UNC de Universidad Nacional de Córdoba
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record_format ojs
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-10
container_title_str Revistas de la UNC
language Inglés
format Artículo revista
topic individual capitalization
PAYG
non contributory regimes
coverage
tax compliance
financial sustainability
H55
capitalización individual
sistemas de reparto
sistemas no contributivos
cobertura
cumplimiento tributario
sostenibilidad financiera
H55
spellingShingle individual capitalization
PAYG
non contributory regimes
coverage
tax compliance
financial sustainability
H55
capitalización individual
sistemas de reparto
sistemas no contributivos
cobertura
cumplimiento tributario
sostenibilidad financiera
H55
Rezk, Ernesto
Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
topic_facet individual capitalization
PAYG
non contributory regimes
coverage
tax compliance
financial sustainability
H55
capitalización individual
sistemas de reparto
sistemas no contributivos
cobertura
cumplimiento tributario
sostenibilidad financiera
H55
author Rezk, Ernesto
author_facet Rezk, Ernesto
author_sort Rezk, Ernesto
title Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
title_short Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
title_full Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
title_fullStr Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
title_full_unstemmed Pension Regimes in Latin American Emerging Countries: Do and Can Individual Capitalization Schemes and PAYG Systems Coexist?
title_sort pension regimes in latin american emerging countries: do and can individual capitalization schemes and payg systems coexist?
description Experts have been pointing out that, although fully funded pension schemes implemented by several Latin American countries gathered political rejection and experienced important setbacks, they were resorted to in response to the problems faced in the eighties and the nineties by unfunded regimes. In this connection, the idea is that both individual capitalization and PAYG systems can and should coexist provided that efficacy in ensuring expected levels of coverage, equity and efficiency and in guaranteeing also long run financial sustainability be appropriately reached. Nevertheless, several preconditions appear necessary for the preceding scenario to be possible: coverage and tax compliance need to be expanded in both regimes particularly to include the self employed workers, individual capitalization needs be improved and turned more attractive by reducing administrative and commercial costs and by offering a more varied portfolio composition concerning instruments and risk levels. Finally, despite that competition between regimes, by permitting affiliates to switch from one to another, promotes efficiency, non contributory pensions will still be necessary, on grounds of distributional, solidarity and equity goals.
publisher Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
publishDate 2013
url https://revistas.unc.edu.ar/index.php/REyE/article/view/11879
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