DOCSLIB.ORG

Chile 2008: a Second-Generation Pension Reform

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Chile 2008: a Second-Generation Pension Reform SP Superintendence of Pensions CHILE 2008: A SECOND-GENERATION PENSION REFORM Superintendence of Pensions EDITORS Solange Berstein Pablo Castañeda Eduardo Fajnzylber Gonzalo Reyes SUPERINTENDENCE OF PENSIONS Tel: (56-2) 753 0100 Fax: (56-2) 753 0257 Casilla 3955 – Santiago – Chile Internet: www.spensiones.cl Copyright Inscription Nº 184872 Santiago – Chile All Rights Reserved First Edition: October 2009 The use of this publication in quotations and comments is authorised, provided the source is acknowledged 2 Chile 2008: A Second-Generation Pension Reform Superintendence of Pensions Editors: Solange Berstein Pablo Castañeda Eduardo Fajnzylber Gonzalo Reyes 3 PROLOGUE This book was put together on the basis of a collection of documents produced by professionals at the Superintendence of Pension Fund AFPs (SAFP), now the Superintendence of Pensions (SP), which formed part of the diagnosis underlying the most important Reform made to the Chilean Pension System since it was set up in 1980. The main aim of this publication is to put together a series of the Superintendence’s internal documents that served as support to the debate, both inside the Council for Pension Reform and later, in the Bill’s passage through parliament. Each of the aspects contained in the Reform to the Pension System, embodied in Law 20,255 on 27th March 2008, was the result of deep analyses, most of which have been incorporated either totally or partially in this book. Therefore, this compendium constitutes a significant contribution that may be of use for similar processes in the future, both in Chile and in other countries. It is important to emphasise that this work relied in turn on a large quantity of previous studies and on the experience of supervision accumulated during the 26 years of the SAFP’s existence. It is also directly related with the reinforcement of the Studies Division of the Superintendence and the creation within it of a Research Department in the year 2003. Guillermo Larraín, who was Superintendent at that period, launched this process of reinforcement, which benefited from the knowledge of the pension system’s institution and the contribution of top-level economists who joined the research department to analyse this information, making it possible to produce working papers and internal minutes on those analyses. In the case of the working papers, these have been presented at local and international seminars which have endorsed their technical thoroughness. It was in part this material that made it possible to uphold the Reform that is being implemented today. The diagnosis concerning the pension system was also built up gradually over the years with the contribution of economists such as Salvador Valdés, Jorge Tarziján and Augusto Iglesias, among other experts, both local and foreign. An important landmark was the Seminar in November 2004, organized by the SAFP and the Centre of Public Studies (CEP). At that Seminar, these and other authors presented a series of articles prepared specially for the occasion, which dealt with the areas of coverage and competition in the Pension System.1 Another source that provided information and analysis about the system was a series of papers commissioned by Expansiva, which were then presented at a discussion forum that made it possible to share and debate opinions on the future of the Pension System. The papers presented on that occasion included proposals and analyses for improving 2 the coverage, competition and fairness of the system, among other topics. 1 See documents in www.spensiones.cl/573/propertyvalue-1832.html 2 The documents, available in http://www.expansivaudp.cl, were the following: “Tres Exigencias Mínimas para la Reforma Previsional”, Manuel Riesco; “Trabajadores Independientes: ¿Incentivarlos u Obligarlos a Cotizar? Una Tercera Opción”, Solange Berstein, Gonzalo Reyes and Francisco Pino; “Pensiones para Todos: Análisis de Alternativas para Extender la Cobertura del Sistema Previsional Chileno”, Eduardo Fajnzylber; “Mejores Pensiones para las Mujeres: Una Evaluación de Políticas”, Solange Berstein and Andrea Tokman; “La Cobertura Previsional y el Acceso a la Pensión Mínima Legal”, Jaime Ruiz-Tagle; “Licitaciones: Imprimiendo Competencia al Sistema de AFP”, Guillermo Larraín, Pablo Castañeda and Rubén Castro; “Alternativas para Aumentar la Competencia entre las AFP”, Salvador Valdés; “Ideas para Aumentar la Competencia en el Mercado de AFP”, Jorge Tarziján. 4 During the intensive work of the Advisory Council for Pension Reform called by President Michelle Bachelet, the diagnosis was consolidated, finally giving rise to a comprehensive Pension Reform. The Council was chaired by Mario Marcel and its members were Harald Beyer, David Bravo, Axel Christensen, Regina Clark, Alvaro Clarke, Rosanna Costa, Martín Costabal, María Margarita Errázuriz, Alejandro Ferreiro, Augusto Iglesias, Alejandra Mizala, Andrea Repetto, Jaime Ruiz-Tagle and Andras Uthoff. This work took about four months and during that period an international seminar was organised by CIEPLAN and the SAFP. Important foreign researchers were invited to it to give their views on the Chilean System and ways in which it could potentially be improved. Experts such as Truman Packard, Fabio Bertranou, Olivia Mitchell, Estelle James, Nicholas Barr, Carmelo Mesa Lagos, Zvi Bodie, Michael Cichon and Juan Yermo spoke at this Seminar.3 A very important contribution to the Council’s work was also that provided by representatives of different sectors of society at “hearings”. In this way it was possible to discover the views of bodies such as organizations of employed and self-employed workers, groups of women and pensioners, actors in the industry, business organizations, international organizations and research institutes, plus individuals whose experience and knowledge were particularly relevant, such as former Superintendents of AFPs, former Ministers of Labour, academics and independent professionals. The Council for Pension Reform presented President Michelle Bachelet a complete report containing concrete proposals, most of which were included in the Bill. In order to produce this Bill, a Committee of Ministers was formed, chaired by the Minister of Labour, Osvaldo Andrade. Its members were the Finance Minister, Andrés Velasco, the Minister-General of the Government, Ricardo Lagos Weber, the Minister in charge of the National Service for Women, Laura Albornoz, and the Minister-General of the Presidency, Paulina Veloso. This committee had the support of a Technical Secretariat that was chaired by the Budget Department Director, Alberto Arenas. The Superintendence had an active participation in this Technical Secretariat. The team worked out the details contained in the Bill, while the wording of it was the responsibility of the Budgets Department, particularly in those matters affecting the budget; the Undersecretary of Social Security on institutional issues and the SAFP in those related with the design of the pension system. Staff from the Legal Department and Research Division participated on behalf of the Superintendence, also supported on many occasions by the other Divisions at the Superintendence. At this stage the roles of the Legal Advisor, Alejandro Charme and the Head of the Analysis Department at the Research Division, Marcia Salinas, were of fundamental importance. Although the final Bill basically contained the Council’s proposals, the Ministerial Committee also included other elements, such as the subsidy on youth contributions, the single provider for the disability and survivorship insurance and improvements in the corporate governance area. The first, in order to bring these workers into the formal sector and improve their future pensions, since early contributions are crucial in a capitalization system. In the case of the Disability and Survivor Insurance, the main aims of the change in design are related with making its cost more transparent, 3 See program of the seminar in www.spensiones.cl/573/articles-3104_programa.pdf 5 contributing to competition in the system by reducing barriers to entering the industry and achieving better control of the risks involved in providing this insurance. Finally, with regard to corporate governance, the figure of the autonomous director is introduced to reinforce the AFPs’ fiduciary role; among other measures with this same aim in view. Later on, the Bill sent to Congress also underwent important modifications in both the Chamber of Deputies and the Senate. These, while keeping the line of the original Bill, improved it. For example, a reinforcement of Voluntary Pension Saving for the middle class was included while the Bill was in the Chamber by introducing a bonus system for those who save in this way and do not benefit from the tax exemption because they pay a low rate of taxation or none at all. Another of the important modifications at this stage was the inclusion of additional tools to encourage employers to pay contributions, by means of automatic declaration with not payment, for example. In the Senate, meanwhile, modifications were introduced to reinforce competition in the industry, such as the tax credit for value added tax paid in the case of outsourced functions. With regard to the retirement stage, the programmed withdrawal pension option was also improved, to make the payment profile provide better coverage for longevity risk. During the parliamentary processing of the Bill, the contribution of the staff from the Ministry of Finance, Ministry of Labour and
Load more

Recommended publications
  • Privatizing Social Security: the Chilean Experience
    In 1924, Chile was the first country in the Western Hemisphere to establish a comprehensive social security program that provided coverage for old-age, survivors, and disability benefits (similar to the present OASDI system in the United States), and cash sickness and medical benefits. By the late 1970’s, it had become clear that massive government subsidies would be needed to continue to pay benefits. Then, in 198 1, Chile became the first country to change from a pay-as- you-go system to mandatory private savings for retirement. As many countries worldwide are currently facing problems with financing their social security systems, they are looking to the experi- Privatizing Sociffl Security: ence of other countries to find solutions. The Chilean model has become a popular The Chilean Experience one to observe. This article provides a description of the problems of the old Barbara E. Kritzer * public system, the transition provisions, the privatized system and its performance In 198 1, Chile introduced a new approach to social insurance, a system to date, and what the United States can of individual capitalization accounts financed solely by the employee. This learn from the Chilean experience. new privatized system was an improvement over Chile’s failing pay-as- you-go arrangement. As many countries worldwide are facing financial Reasons for Change problems with their social security system, they are now looking to the Chilean model in trying to find solutions. This article describes the condi- Prior to 198 1, Chilean social security was not one single system, but rather a tions that led to the new system, the transition, and details of the new large number of separate systems based on privatized system.
    [Show full text]
  • Thesis Front Matter
    UNIVERSITY OF CALGARY Accounting for Pensions by Darlene Himick A THESIS SUBMITTED TO THE FACULTY OF GRADUATE STUDIES IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY HASKAYNE SCHOOL OF BUSINESS CALGARY, ALBERTA SEPTEMBER, 2010 © Darlene Himick 2010 Library and Archives Bibliothèque et Canada Archives Canada Published Heritage Direction du Branch Patrimoine de l’édition 395 Wellington Street 395, rue Wellington Ottawa ON K1A 0N4 Ottawa ON K1A 0N4 Canada Canada Your file Votre référence ISBN: 978-0-494-69499-2 Our file Notre référence ISBN: 978-0-494-69499-2 NOTICE: AVIS: The author has granted a non- L’auteur a accordé une licence non exclusive exclusive license allowing Library and permettant à la Bibliothèque et Archives Archives Canada to reproduce, Canada de reproduire, publier, archiver, publish, archive, preserve, conserve, sauvegarder, conserver, transmettre au public communicate to the public by par télécommunication ou par l’Internet, prêter, telecommunication or on the Internet, distribuer et vendre des thèses partout dans le loan, distribute and sell theses monde, à des fins commerciales ou autres, sur worldwide, for commercial or non- support microforme, papier, électronique et/ou commercial purposes, in microform, autres formats. paper, electronic and/or any other formats. The author retains copyright L’auteur conserve la propriété du droit d’auteur ownership and moral rights in this et des droits moraux qui protège cette thèse. Ni thesis. Neither the thesis nor la thèse ni des extraits substantiels de celle-ci substantial extracts from it may be ne doivent être imprimés ou autrement printed or otherwise reproduced reproduits sans son autorisation.
    [Show full text]
  • Report on the Activities of the Commission Since April 2000
    Distr. GENERAL LC/G.2160(SES.29/6) 11 April 2002 ENGLISH ORIGINAL: SPANISH Twenty-ninth session Brasilia, Brazil, 6-10 May 2002 REPORT ON THE ACTIVITIES OF THE COMMISSION SINCE APRIL 2000 02-2-117 Comisión Económica para América Latina y el Caribe, CEPAL, Economic Commission for Latin America and the Caribbean, ECLAC iii CONTENTS Page INTRODUCTION ...................................................................................................................................... 1 I. ACTIVITIES OF THE SUBSIDIARY BODIES, PREPARATIONS AND FOLLOW-UP FOR WORLD CONFERENCES AND INTER-AGENCY ACTIVITIES ......................................... 3 (i) Activities of subsidiary bodies and meetings ........................................................................... 3 (ii) Activities of preparation and follow-up to the world conferences on economic and social issues ....................................................................................................................... 7 (iii) Inter-agency activities .............................................................................................................. 11 II. SUBSTANTIVE ACTIVITIES........................................................................................................... 13 A. MULTIDISCIPLINARY ACTIVITIES................................................................................... 13 B. SUBPROGRAMME ACTIVITIES ......................................................................................... 17 Linkages with the world economy, competitiveness
    [Show full text]
  • Pensions Under Attack: Summary
    Pensions Under Attack What’s behind the push to privatize public pensions Mo n ic aTow n so n Summary Why are public pensions be much better off in retirement than today’s generation of seniors. They will also pay an under attack? increasing share of the amounts collected by various levels of government in different Canada’s aging population has raised cries of kinds of taxes and user fees that will help pay alarm and panic from some quarters. Critics for services to the elderly such as pensions, warn of a “demographic time bomb” waiting health care and long-term care. In other words, to explode and an age war over pensions as higher total amounts paid in taxes by seniors the baby boom generation starts to retire in themselves will be able to finance a signifi- the next decade. Because the population is cant part of the cost of the programs that the aging, we are told, there will be fewer people older generation will require. of working age to support those who have retired and become “dependent.” Younger Recent Canadian studies have also demon- people will resent paying the cost of support- strated that, with relatively modest economic ing the growing older generation, so the ar- growth over the next few decades, Canada can gument goes. The answer, according to some “afford” its aging population – even taking people, is to get rid of public pension pro- into account increased public spending on grams like the Canada Pension Plan and force health care and pensions as the population people to contribute to their own personal ages.
    [Show full text]
  • Reforming Pensions in Chile*
    REFORMING PENSIONS IN CHILE* Nicholas Barr Nicholas Barr and Peter Diamond (2016), ‘Reforming London School of Economics, United Kingdom pensions in Chile’, Polityka Społeczna, No. 1, 2016, pp. 4-9, Peter Diamond** https://www.ipiss.com.pl/?lang=en London School of Economics, United Kingdom Massachusetts Institute of Technology, United States of America INTRODUCTION sion (Chile Presidential Advisory Council, 2006) and the Bravo Commission (Chile Presidential Advisory Commission on the In 1981, under military government, Chile moved away from Pension System, 2015a, 2015b). Commissions can have diver- a badly-designed set of diverse defined-benefit plans (Soto se roles. Sometimes they are set up with a narrow remit and an 2007), and put in place a mandatory fully-funded defined-con- eye on early legislation, sometimes to increase understanding of tribution plan in the formal sector, with a guaranteed minimum the issues and perhaps also to provide public education, with an for workers with at least 20 years of contributions. eye on eventual legislation. Most of the Marcel Commission’s Moving to such a plan was widely touted by the Chilean recommendations were included in a pension reform in 2008. authorities, by some analysts, and by the World Bank (e.g. With 58 specific proposals and three competing and controver- World Bank, 1994). And many countries started partially down sial Global Proposals, the full impact of the Bravo Commission this road, both in Latin America and Central and Eastern Europe is likely to take longer. (Box 1). Box 2. Retreat from individual accounts Box 1. Pension reform: The demonstration effect of Chile A move towards funding has significant transition costs: The arrangements in Chile were highly influential in Latin if worker’s contributions are diverted to individual accounts, America and elsewhere.
    [Show full text]
  • D3.3.1 the Chilean Transition from Non-Corrupt Economic Underperformer to Most Developed and Least Corrupt Country in Latin America
    This project is co-funded by the Seventh Framework Programme for Research and Technological Development of the European Union D3.3.1 The Chilean transition from non-corrupt economic underperformer to most developed and least corrupt country in Latin America Author: Patricio Navia School of Political Science, Universidad Diego Portales, Santiago, Chile and Liberal Studies Program, New York University GIGA German Institute of Global and Area Studies 28 May 2015 KEYWORDS Corruption, Anti-Corruption, Chile, Democracy Patricio Navia, Center for Latin American and Caribbean Studies, New York University GIGA German Institute of Global and Area Studies ([email protected]) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ © 2015 GIGA German Institute of Global and Area Studies. Introduction Chile stands today as Latin America’s most developed economy and the least corrupt country in the region. Fifty years ago, Chile was an economic underperformer in Latin America but was already regarded as one of the least corrupt countries in the hemisphere. Here, I trace the historical roots of Chile’s low tolerance for corruption and analyze how the country has successful remained free from significant corruption scandals despite the greater access to information and more demands for transparency that often result in uncovering corruption in areas that were previously inaccessible to the press and civil society. I pose how the economic transformations that Chile began to undertake under military rule (1973- 1990) and consolidated once democracy was restored in 1990 have created a stronger civil society, a freer press and have increased demands for transparency. As a result, there is more information on corruption scandals today than ever before as the number of relevant and influential social and political actors has increased and there is less room for corrupt practices that involve those with access to power.
    [Show full text]
  • Cómo Citar El Artículo Número Completo Más Información Del
    Psicoperspectivas ISSN: 0717-7798 ISSN: 0718-6924 Pontificia Universidad Católica de Valparaíso, Escuela de Psicología Undurraga, Rosario; Becker, Javiera Mujeres trabajadoras jóvenes y pensiones en Chile Psicoperspectivas, vol. 18, núm. 3, 2019, pp. 115-127 Pontificia Universidad Católica de Valparaíso, Escuela de Psicología DOI: https://doi.org/10.5027/psicoperspectivas-vol18-issue3-fulltext-1658 Disponible en: https://www.redalyc.org/articulo.oa?id=171067943010 Cómo citar el artículo Número completo Sistema de Información Científica Redalyc Más información del artículo Red de Revistas Científicas de América Latina y el Caribe, España y Portugal Página de la revista en redalyc.org Proyecto académico sin fines de lucro, desarrollado bajo la iniciativa de acceso abierto Mujeres trabajadoras jóvenes y pensiones en Chile Young women workers and pensions in Chile Rosario Undurraga*, Javiera Becker Universidad Finis Terrae, Santiago, Chile *[email protected] Recibido: 11-abril-2019 Aceptado: 7-noviembre-2019 RESUMEN El envejecimiento de la población presenta desafíos al sistema de pensiones. Chile tiene pensiones de vejez particularmente bajas: más de la mitad de los casos se ubica bajo la línea de la pobreza, y las pensiones de las mujeres son peores que la de los hombres. Esto genera preocupación de las jóvenes ante su pensión futura, aunque llevan una vida “presentista”. Por medio de entrevistas semi-estructuradas, esta investigación cualitativa explora las percepciones sobre el sistema de pensiones y las posibles estrategias previsionales de mujeres entre 20 y 35 años, profesionales y no-profesionales de Santiago, Chile, para mantenerse económicamente en su vejez. Los resultados muestran una percepción negativa del sistema de pensiones, desconfianza en este como principal sustento económico en la vejez, y conciencia de diferencias por nivel socioeconómico, en contraste con baja conciencia de género.
    [Show full text]
  • Comparing Pension Schemes in Chile, Singapore, Brazil and South Africa
    IDPM DISCUSSION PAPER SERIES Paper No. 67 COMPARING PENSION SCHEMES IN CHILE, SINGAPORE, BRAZIL AND SOUTH AFRICA Armando Barrientos University of Manchester May 2002 United Nations Research Institute for Social Development (UNRISD) This paper was prepared for the UNRISD Meeting on Ageing, Development and Social Protection, Madrid, 2002 ISBN: 1 904143 28 8 Further details: Institute for Development Policy and Management Published by: University of Manchester External Affairs Office Harold Hankins Building, Precinct Centre, Oxford Road, Manchester M13 9QH, UK Tel: +44-161 275 2814 Email: [email protected] Web: http://idpm.man.ac.uk COMPARING PENSION SCHEMES IN CHILE, SINGAPORE, BRAZIL, AND SOUTH AFRICA1 The 1990s could well qualify as the decade of global pension reform. A number of countries in Latin America and transition economies radically transformed their pension provision, and moved swiftly in the direction of privately provided individual retirement plans. The blueprint for pension reform in these countries was provided by Chile’s 1981 pension reform (Barrientos, 1998). The World Bank has played a key role in supporting and financing this model of pension reform elsewhere in the developing world. At one level, the spread of pension reform can be seen as a response to the accelerated demographic and epidemiological transition in developing countries thrusting the issue of old age support to the forefront of development policy. In fact, pension reform has been embedded within structural adjustment, and has largely constituted a response to fiscal deficits and labour market liberalisation. This has narrowed the potential range of policy responses to demographic change available to developing countries.
    [Show full text]
  • Download It Directly from Internet by the Following Link
    © International Federation of Pension Fund Administrators (FIAP) Av. 11 de Septiembre 2155, Tower C, Floor 9, Office 901, Providencia, Santiago, Chile Telephone: (56-2) 381 17 23 Fax: (56-2) 381 26 55 E-mail: [email protected] www.fiap.cl Edited and Published by: International Federation of Pension Fund Administrators (FIAP) © Developing the Potential of the Individually Funded Pension Systems 1st edition: 1,000 copies, 2010 Cover design: Verónica Muñoz/Raquel Yamal ISBN: 978-956-8853-05-1 All rights reserved No part of this publication may be reproduced in any form or by any means without due permis- sion, except in order to quote or comment. Each article is the exclusive responsibility of its author and does not necessarily reflect the opin- ion of the International Federation of Pension Fund Administrators (FIAP). Printed in the workshop of Imprenta Salesianos S.A. DEVELOPING THE potentiaL OF THE INDIVIDUALLY FUNDED PENSION systems Presentations given at the International Seminar “Developing the Potential of the Individually Funded Pension Systems” on May 6 and 7, 2010, in Viña del Mar, Chile. INDEX PRESENTATION: WELCOMING SPEECH 7 INTERNATIONAL FEDERATION OF PENSION FUND ADMINISTRATORS (FIAP) 15 LETTER FROM HIS EXCELLENCY THE PRESIDENT OF THE REPUBLIC OF CHILE, MR. SEBASTIÁN PIÑERA 17 OPENING CEREMONY 21 INAUGURAL LECTURE I Sebastián Edwards. Crisis and Pensions: Lessons from the Global Financial Collapse 27 LECTURE II Felipe Kast. Challenges for Extending Coverage to Lower-Income Workers 41 LECTURE III Wenceslao Casares. How to innovate in a regulated industry 51 LECTURE IV Robert C. Merton. Observations on Individually Funded Pension System Design: Advances for the Future 61 PART I.
    [Show full text]
  • Fax Cover Sheet
    PUBLIC SIMULTANEOUS DISCLOSURE DOCUMENT OF THE INTER-AMERICAN DEVELOPMENT BANK AND IDB INVEST CHILE IDB GROUP COUNTRY STRATEGY WITH CHILE 2019-2022 FEBRUARY 2019 This document was prepared by Sebastián Miller (CSC/CCH) and María Cecilia Acevedo (IIC-DSP/DCO) under the guidance of José Luis Lupo (CSC/CSC), Yolanda Martinez (CSC/CCH) and Carolyn Robert (CAN/CAN), with input from Fernando Montenegro (CSC/CCH), Analía La Rosa (FMP/CCH), David Salazar (FMP/CBR), Claudia Valdés (IIC-INO/IEN), Daniel Hernaiz (CSC/CSC), Fabiano Bastos (CSC/CSC), Clarissa Santelmo (CSC/CSC), Joaquin Lennon Sabatini (IIC-DSP/DCO), Ricardo Quiroga (CSC/CSC), Francesca Castellani (VPC/VPC), and Pablo Molina (CSC/CSC). This document is being released to the public and distributed to the Bank's Board of Executive Directors simultaneously. This document has not been approved by the Board. Should the Board approve the document with amendments, a revised version will be made available to the public, thus superseding and replacing the original version. CONTENTS EXECUTIVE SUMMARY I. COUNTRY CONTEXT ................................................................................................. 1 II. THE IDB GROUP IN CHILE ......................................................................................... 3 III. PRIORITY AREAS ...................................................................................................... 9 IV. ESTIMATED LENDING FRAMEWORK .......................................................................... 19 V. STRATEGY IMPLEMENTATION
    [Show full text]
  • The Economy of Divorce: Pensions in Latin America, the Effects On
    The University of San Francisco USF Scholarship: a digital repository @ Gleeson Library | Geschke Center Undergraduate Honors Theses Theses, Dissertations, Capstones and Projects Spring 5-18-2018 The conomE y of Divorce: Pensions in Latin America, The ffecE ts on Women, and The ecD ision to Divorce Mary Walsh [email protected] Follow this and additional works at: https://repository.usfca.edu/honors Part of the Economic Policy Commons, International Economics Commons, Latin American Studies Commons, Social Welfare Commons, and the Women's Studies Commons Recommended Citation Walsh, Mary, "The cE onomy of Divorce: Pensions in Latin America, The Effects on Women, and The eD cision to Divorce" (2018). Undergraduate Honors Theses. 25. https://repository.usfca.edu/honors/25 This Honors Thesis is brought to you for free and open access by the Theses, Dissertations, Capstones and Projects at USF Scholarship: a digital repository @ Gleeson Library | Geschke Center. It has been accepted for inclusion in Undergraduate Honors Theses by an authorized administrator of USF Scholarship: a digital repository @ Gleeson Library | Geschke Center. For more information, please contact [email protected]. TABLE OF CONTENTS Abstract 3 Acknowledgements 3 Keywords 3 List of Figures 4 List of Tables 6 List of Acronyms 10 Introduction 11 Personal Comments and Bias 12 History 12 Literature Review 14 Pension systems 15 Direct Impacts 17 Indirect Impacts 17 Divorce Impact 21 Methods and Analysis 21 Existing relationship: Economics and Divorce 21 Pension Reform in Latin America 22 Divorce Data Collection 24 Findings 25 Economic Theory and Divorce Behavior 25 Economic Policy and Divorce Behavior 28 Pension Reform in Latin America 30 Divorce Data 39 Analysis of Findings 40 Limitations 41 Conclusion 42 Reference List 43 2 ABSTRACT This thesis addresses the gender inequalities produced in pension systems in Latin America, discusses pension reform, and specifically describes gender inequalities that exist for divorced women, and the relationship between divorce and pensions.
    [Show full text]
  • Universal Age Pensions for Sri Lanka
    Tackling Poverty in Old Age: A Universal Pension for Sri Lanka A universal pension for Sri Lanka Acknowledgements This report was prepared for HelpAge International on behalf of HelpAge Sri Lanka by Dr. Larry Willmore of the International Institute for Applied Systems Analysis (IIASA) in Laxenburg, Austria and Stephen Kidd, Director of Policy and Communications at HelpAge International, London UK. They were supported by a small team that included Astrid Walker and Jonathan Barden of HelpAge International. The report also draws on work commissioned from a team at the Institute of Policy Studies led by Dr. Nisha Arunatilake, and two consultants, Professor Siddhisena and Dr. Wanigaratne, supplied with the guidance of Mrs V Jegarasasingham, Additional Secretary of the Ministry of Social Services and Social Welfare. In preparing the report, HelpAge International would like to acknowledge the excellent support received from HelpAge Sri Lanka, in particular its Chairman, Deshabandu Tilak de Zoysa and its Chief Executive, Samantha Liyanawaduge. HelpAge International and HelpAge Sri Lanka are grateful to Help the Aged for funding the study and this report. Help the Aged provides core funding to HelpAge and is also a leading member of HelpAge’s global network. Published by HelpAge International PO Box 32832 London N1 9ZN, UK Email: [email protected] Web: www.helpage.org Copyright © HelpAge International 2008 Registered charity no. 288180 Any parts of this publication may be reproduced without permission for educational and non-profit purposes if the source is acknowledged. Front cover photo: Vidarshi de Silva Wijeyeratne/HelpAge Sri Lanka ii A universal pension for Sri Lanka Contents Executive summary 1 1.
    [Show full text]