Pension Coverage in Latin America : Trends and Determinants
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World Bank, Washington, DC
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This document presents an analysis of
pension coverage trends in Latin America for the past
decades. Its preparation involved the collection, revision,
and processing of household surveys in over 18 countries in
the region, spanning a period of almost 40 years in some
cases. The main goal of this document is to offer comparable
data on pension coverage among the economically active
population and the elderly, considering the relevance of
several demographic, social, and economic variables on these
coverage levels. By producing this large and comparable
regional dataset, the document supports the discussion of
several stylized facts on pension coverage in Latin America.
The results show that coverage among active workers is low
in most countries, although there has been a relative
improvement since the early 1990s. The situation is still
distressing among workers in the primary sector or employed
by small enterprises as well as for women, primarily because
of their persistent lower rates of labor market
participation. In recent years coverage of some of the most
vulnerable groups has increased, but it still presents very
low rates. Among the elderly, regional averages have been
very stable since the early 1990s, although this average
hides important differences among countries.
Palabras clave
ASYMMETRIC INFORMATION, BENEFICIARIES, CAPITAL GAINS, CAPITALIZATION, CITIZEN, CITIZENS, CONTRIBUTORY PROGRAMS, COVERAGE, DISABILITY, DISCRIMINATION, DISSEMINATION, ECONOMIC GROWTH, EDUCATIONAL ATTAINMENT, ELDERLY, ELDERLY POPULATION, FINANCIAL COMMITMENTS, FINANCIAL SUSTAINABILITY, GENDER BIAS, HOUSEHOLD INCOME, HOUSEHOLD SURVEYS, HUMAN DEVELOPMENT, INCOME FLOWS, INCOME LEVEL, INCOME LEVELS, INCOME SECURITY, INCOME TAXES, INDIVIDUAL ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS, INEQUITIES, INSURANCE, INSURANCE MARKETS, INSURANCE SYSTEM, INTERNATIONAL LABOR ORGANIZATION, LABOR FORCE, LABOR FORCE PARTICIPATION, LABOR MARKET, LABOR MARKETS, LEGAL OBLIGATIONS, LEVEL OF EDUCATION, LEVELS OF EDUCATION, LIBERALIZATION, LIVING CONDITIONS, MILLENNIUM DEVELOPMENT GOALS, MINIMUM BENEFITS, MORTALITY, NATIONAL LEVEL, NATIONAL PENSION, NUMBER OF WORKERS, OLD AGE, OLDER ADULTS, PAY AS YOU GO, PAY AS YOU GO SYSTEMS, PENSION, PENSION BENEFICIARY, PENSION BENEFIT, PENSION BENEFITS, PENSION CONTRIBUTIONS, PENSION COVERAGE, PENSION DEBT, PENSION INCOME, PENSION REFORM, PENSION REFORMS, PENSION SCHEME, PENSION SYSTEM, PENSION SYSTEM REFORMS, PENSION SYSTEMS, PENSIONS, POLICY MAKERS, POLITICAL ECONOMY, POPULATION GROUPS, PRIVATE PENSIONS, PROGRESS, PUBLIC FINANCES, PUBLIC PENSION, PUBLIC POLICY, PUBLIC SERVICES, RATES, RESPECT, RETIREES, RETIREMENT, RETIREMENT AGE, RETIREMENT AGES, RETIREMENT BENEFITS, RETIREMENTS, RISK AVERSION, RURAL AREAS, RURAL RESIDENTS, SAVINGS, SAVINGS SCHEMES, SMALL ENTERPRISES, SOCIAL INSURANCE, SOCIAL INSURANCE SYSTEM, SOCIAL NETWORKS, SOCIAL PENSIONS, SOCIAL POLICY, SOCIAL PROTECTION, SOCIAL SECURITY, SOCIAL SECURITY AGENCIES, SOCIAL SECURITY SYSTEMS, SOCIAL VULNERABILITY, SOLVENCY, SPOUSES, SUSTAINABILITY, TAX, TRADE LIBERALIZATION, TRADITIONAL SOCIETIES, UNEMPLOYMENT, URBAN AREAS, URBAN POPULATION, VULNERABLE GROUPS, WORKING POPULATION, YOUNG ADULTS, elderly welfare