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SpanishReversing Pension Privatization: Rebuilding Public Pension Systems in Eastern European and Latin American Countries (2000-18)
By Isabel Ortiz (United Nations – International Labour Organization (ILO); Initiative for Policy Dialogue), Fabio Duran (International Labour Organization (ILO)), Stefan Urban (United Nations – International Labour Organization (ILO)), Veronika Wodsak (United Nations – International Labour Organization (ILO)), Zhiming Yu (International Labour Organization)
From 1981 to 2014, thirty countries privatized fully or partially their public mandatory pensions; as of 2018, eighteen countries have reversed the privatization. This report: (i) analyses the failure of mandatory private pensions to improve old-age income security and their underperformance in terms of coverage, benefits, administrative costs, transition costs, social and fiscal impacts, and others; (ii) documents the reversals of pension privatization, the laws, governance, new entitlements, financing and contribution rates of the new public pension systems; (iii) provides guidance on the key policy steps to reverse pension privatization, for those countries considering returning back to a public system.
Source: SSRN
