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

Javier Olivera

Research output: Contribution to journalArticlepeer-review

7 Scopus citations

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.

Original languageEnglish
Pages (from-to)1401-1414
Number of pages14
JournalJournal of Development Studies
Volume52
Issue number10
DOIs
StatePublished - 2 Oct 2016
Externally publishedYes

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