Chile’s Pension Revolution Coming of Age

@inproceedings{SchmidtHebbel2001ChilesPR,
  title={Chile’s Pension Revolution Coming of Age},
  author={Klaus Serven Luis Schmidt-Hebbel},
  year={2001}
}
Chile started in 1924 a mandatory pension system organized around private and state-managed social-security institutions (SSIs) for particular groups of workers.1 Originally designed as fully-funded pension schemes, pension reserves were depleted over the years as a result of restrictive investment policies and low returns, unsustainable contribution-to-benefit ratios, and use of reserves to finance other benefits including health services, family allowances, and subsidized mortgage loans… CONTINUE READING

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