The challenges of social security in the world: a Latin American polaroid
By Nelson Dionel Cardozo
This essay seeks to discuss the diagnoses of the so-called “pension crisis”. In the literature we find a hypothesis that population aging and changes in employment markets will make the payment of public pensions unsustainable in the future. This is explained by the decrease in the number of workers and the increase in the number of older adults in the population pyramid. Thus, the arguments critical of this vision, which has become hegemonic in the debate on pension reform, are contrasted, presenting proposals that challenge the idea of the “pension crisis”. Finally, it briefly reviews how the orthodox consensus translated into the introduction of individual capitalization accounts in Latin America, and how their failure prompted a new wave of reforms. This new period included measures to increase coverage for older adults, the creation of public funds, and improvements in the functioning of the private
Source: FURG
