IDEAS home Printed from https://ideas.repec.org/a/taf/jdevst/v52y2016i10p1401-1414.html
   My bibliography  Save this article

Welfare, Inequality and Financial Effects of a Multi-Pillar Pension Reform: The Case of Peru

Author

Listed:
  • Javier Olivera

Abstract

This paper studies the potential effects of a multi-pillar pension system on pension inequality, actuarial liability and welfare in Peru, by means of simulations of future distributions of pensions with social security administrative records. The results show that actual pension inequality and actuarial liability can be substantially reduced with welfare preserving policies. The simulations illustrate that when welfare is considered, it is important to define the implied value judgments, which are not universally agreed upon. Therefore, this paper highlights the trade-offs of a pension policy reform and contributes to assess the second generation of pension reforms in Latin America.

Suggested Citation

  • Javier Olivera, 2016. "Welfare, Inequality and Financial Effects of a Multi-Pillar Pension Reform: The Case of Peru," Journal of Development Studies, Taylor & Francis Journals, vol. 52(10), pages 1401-1414, October.
    • Handle: RePEc:taf:jdevst:v:52:y:2016:i:10:p:1401-1414
    DOI: 10.1080/00220388.2015.1121243
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00220388.2015.1121243
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00220388.2015.1121243?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Holzmann, Robert & Palacios, Robert & Zviniene, Asta, 2004. "Implicit pension debt: issues, measurement and scope in international perspective," Social Protection Discussion Papers and Notes 30153, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alessandro Bucciol & Martina Manfre' & Gregorio Gimenez, 2019. "Household Financial Decisions After the 2008 Chilean Pension Reform," Working Papers 10/2019, University of Verona, Department of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ian Tower & Gregorio Impavido, 2009. "How the Financial Crisis Affects Pensions and Insurance and Why the Impacts Matter," IMF Working Papers 2009/151, International Monetary Fund.
    2. Qing Zhao & Haijie Mi, 2019. "Evaluation on the Sustainability of Urban Public Pension System in China," Sustainability, MDPI, vol. 11(5), pages 1-20, March.
    3. David Robalino, 2005. "Pensions in the Middle East and North Africa: Time for Change," World Bank Publications - Books, The World Bank Group, number 7427.
    4. Elsa Fornero, 2015. "Economic-financial Literacy and (Sustainable) Pension Reforms: Why the Former is a Key Ingredient for the Latter," Bankers, Markets & Investors, ESKA Publishing, issue 134, pages 6-16, January-F.
    5. Klaus Kaier & Christoph Müller, 2015. "New figures on unfunded public pension entitlements across Europe: concept, results and applications," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(4), pages 865-895, November.
    6. World Bank, 2002. "Brazil : The New Growth Agenda, Volume 1. Policy Briefing," World Bank Publications - Reports 15289, The World Bank Group.
    7. Robalino, David & Bogomolova, Tatyana, 2006. "lmplicit Pension Debt in the Middle-East and North Africa: Magnitude and Fiscal lmplications," MPRA Paper 12016, University Library of Munich, Germany.
    8. Christine Mayrhuber & Gerhard Rünstler & Thomas Url & Werner Eichhorst & Michael J. Kendzia & Maarten Gerard & Connie Nielsen, 2011. "Pension Systems in the EU. Contingent Liabilities and Assets in the Public and Private Sector," WIFO Studies, WIFO, number 43938.
    9. Sheila Rose Darmaraj & Suresh Narayanan, 2019. "The Long-Term Financial Sustainability of the Civil Service Pension Scheme in Malaysia," Asian Economic Papers, MIT Press, vol. 18(1), pages 155-178, Winter/Sp.
    10. Mr. Alfredo Cuevas & Ms. Maria Gonzalez & Arnoldo López-Marmolejo & Davide Lombardo, 2008. "Pension Privatization and Country Risk," IMF Working Papers 2008/195, International Monetary Fund.
    11. Bernardo Lanza Queiroz & Moema Gonçalves Bueno Figoli, 2011. "Population aging and the rising costs of public pension in Brazil," Textos para Discussão Cedeplar-UFMG td438, Cedeplar, Universidade Federal de Minas Gerais.
    12. Clement Joubert, 2010. "Dynamic labor supply and saving incentives in privatized pension systems: evidence from Chile," 2010 Meeting Papers 291, Society for Economic Dynamics.
    13. Metzger, Christoph, 2016. "Accounting of pay-as-you-go pension schemes using accrued-to-date liabilities: An example for Switzerland," FZG Discussion Papers 59, University of Freiburg, Research Center for Generational Contracts (FZG).
    14. Heidler, Matthias & Müller, Christoph & Weddige, Olaf, 2009. "Measuring accrued-to-date liabilities of public pension systems: Method, data and limitations," FZG Discussion Papers 37, University of Freiburg, Research Center for Generational Contracts (FZG).
    15. Marek Dabrowski, 2016. "Fiscal Sustainability: Conceptual, Institutional, and Policy Issues," CASE Network Reports 0128, CASE-Center for Social and Economic Research.
    16. Belloni, Michele & Brugiavini, Agar & Buia, Raluca E. & Carrino, Ludovico & Cavapozzi, Danilo & Orso, Cristina E. & Pasini, Giacomo, 2020. "What do we learn about redistribution effects of pension systems from internationally comparable measures of Social Security wealth?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 19(4), pages 548-566, October.
    17. Yuwei Hu, 2012. "Growth of Asian Pension Assets: Implications for Financial and Capital Markets," Working Papers id:5025, eSocialSciences.
    18. Bogomolova, Tatiana & Impavido, Gregorio & Pallares-Miralles, Montserrat, 2006. "An assessment of reform options for the public service pension fund in Uganda," Policy Research Working Paper Series 4091, The World Bank.
    19. Clement Joubert, 2011. "Pension design with a large informal labor market: evidence from Chile," 2011 Meeting Papers 1136, Society for Economic Dynamics.
    20. World Bank, 2011. "Croatia : Policy Options for Further Pension System Reform," World Bank Publications - Reports 12892, The World Bank Group.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jdevst:v:52:y:2016:i:10:p:1401-1414. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/FJDS20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.