Reversing Pension Privatization: Rebuilding Public Pension Systems in Eastern European and Latin American Countries (2000-18)

68 Pages Posted: 10 Dec 2018 Last revised: 11 Dec 2018

See all articles by Isabel Ortiz

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

Date Written: September 24, 2018

Abstract

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.

Keywords: pension privatization, pension reform, social security policy, social insurance

JEL Classification: I3, H53, H55, J14, J26

Suggested Citation

Ortiz, Isabel and Duran, Fabio and Urban, Stefan and Wodsak, Veronika and Yu, Zhiming, Reversing Pension Privatization: Rebuilding Public Pension Systems in Eastern European and Latin American Countries (2000-18) (September 24, 2018). Available at SSRN: https://ssrn.com/abstract=3275228 or http://dx.doi.org/10.2139/ssrn.3275228

Isabel Ortiz (Contact Author)

United Nations - International Labour Organization (ILO) ( email )

ILO HQ, Route des Morillons 4
Geneva, 1211
Switzerland
+41227996226 (Phone)

HOME PAGE: http://www.ilo.org/

Initiative for Policy Dialogue ( email )

Columbia University
New York, NY
United States

HOME PAGE: http://policydialogue.org/programs/taskforces/global_social_justice/

Fabio Duran

International Labour Organization (ILO) ( email )

Route des Morillons 4
Geneva, 1211
Switzerland

Stefan Urban

United Nations - International Labour Organization (ILO) ( email )

ILO HQ, Route des Morillons 4
Geneva, 1211
Switzerland

Veronika Wodsak

United Nations - International Labour Organization (ILO) ( email )

ILO HQ, Route des Morillons 4
Geneva, 1211
Switzerland

Zhiming Yu

International Labour Organization ( email )

ILO HQ, Route des Morillons 4
Geneva, 1211
Switzerland

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