Resource
Reversing pension privatization. Rebuilding public pension systems in Eastern European and Latin American countries (2000-18)
- English
Ortiz, I.; Durán-Valverde, F.; Urban, S.; Wodsak, V.; Yu, Z.
2018
ISSN 1020-9581
70
Summary
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.