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Regressivity in public pension systems: The case of Peru

Author

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  • Valderrama, José A.

Abstract

We study the role of income-mortality differentials and pension eligibility conditions on the level of regressivity and progressivity of Peru’s public pension system, using administrative records from 1999 to 2018 to do so. We consider the joint effect of insufficient contributions, by which the poorest contribute to the pension system but ultimately do not qualify for pensions because of insufficient contributions, and differing mortality by socioeconomic status in contributing to regressivity of the system. We find that the impact of insufficient contributions is more important than the impact of higher mortality in making the system regressive.

Suggested Citation

  • Valderrama, José A., 2024. "Regressivity in public pension systems: The case of Peru," The Journal of the Economics of Ageing, Elsevier, vol. 29(C).
    • Handle: RePEc:eee:joecag:v:29:y:2024:i:c:s2212828x2400032x
    DOI: 10.1016/j.jeoa.2024.100532
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    More about this item

    Keywords

    Pay-as-you-go; Pension progressivity; Pension wealth; Mortality;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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