An Assessment of a Proposed Multi-Pillar Pension Reform in Peru

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This article estimates and analyses the potential fiscal and distributiveeffects of a proposal to transform the current Peruvian pension system intoa multi-pillar pension system. In this new system, part of the contributionswould go to a solidarity fund to finance minimum pensions, and the rest toin...

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Autor principal: Olivera, Javier
Formato: Artículo publishedVersion
Lenguaje:Español
Inglés
Publicado: Universidad del Pacífico 2016
Acceso en línea:http://revistas.up.edu.pe/index.php/apuntes/article/view/750
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article750oai
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Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-article750oai
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institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Español
Inglés
description This article estimates and analyses the potential fiscal and distributiveeffects of a proposal to transform the current Peruvian pension system intoa multi-pillar pension system. In this new system, part of the contributionswould go to a solidarity fund to finance minimum pensions, and the rest toindividual retirement accounts. The simulation of actuarial liabilities andfuture distributions of pensions are performed using random samples fromthe database of administrative records of individuals insured by the Peruvianpublic and private pension systems as at December 2013. This study analysesthe effects of the reform on actuarial liabilities, inequality of pensions, andoverall wellbeing of pensioners, in order to illustrate the different trade-offsinvolved in pension reform. At the same time, the explicit inclusion of normativejudgments in the evaluation of welfare functions makes it possible to determinethat a multi-pillar pension system is better than the current one, even underthe stringent condition of no aversion to inequality.
format Artículo
publishedVersion
Artículo
publishedVersion
author Olivera, Javier
spellingShingle Olivera, Javier
An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
author_facet Olivera, Javier
author_sort Olivera, Javier
title An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
title_short An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
title_full An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
title_fullStr An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
title_full_unstemmed An Assessment of a Proposed Multi-Pillar Pension Reform in Peru
title_sort assessment of a proposed multi-pillar pension reform in peru
publisher Universidad del Pacífico
publishDate 2016
url http://revistas.up.edu.pe/index.php/apuntes/article/view/750
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=pe/pe-014&d=article750oai
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bdutipo_str Repositorios
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