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 ninetie...

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Autor principal: Rezk, Ernesto
Formato: article
Lenguaje:Inglés
Publicado: 2021
Materias:
Individual Capitalization
PAYG
Non contributory regimes
Coverage
Tax compliance
Financial sustainability
Acceso en línea:http://hdl.handle.net/11086/18331
Aporte de:
Repositorio Digital Universitario (UNC) de Universidad Nacional de Córdoba
id I10-R14111086-18331
record_format dspace
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-141
collection Repositorio Digital Universitario (UNC)
language Inglés
topic Individual Capitalization
PAYG
Non contributory regimes
Coverage
Tax compliance
Financial sustainability
spellingShingle Individual Capitalization
PAYG
Non contributory regimes
Coverage
Tax compliance
Financial sustainability
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
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 effi cacy in ensuring expected levels of coverage, equity and effi ciency and in guaranteeing also long run fi nancial 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 affi liates to switch from one to another, promotes effi ciency, non con-tributory pensions will still be necessary, on grounds of distributional, solidarity and equity goals.
format article
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?
publishDate 2021
url http://hdl.handle.net/11086/18331
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