Gender Effects of Social Security Reform in Chile

Gender Effects of Social Security Reform in Chile

In 1981 Chile replaced a mature government-run social security system that operated on a pay-as-you-go basis with a privately managed system based on individual retirement accounts. The new system is more fiscally sustainable because pension benefi...

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Bibliographic Details
Main Author: Cox Edwards, Alejandra
Format: Journal Article
Language:English
en_US
Published: Washington, DC: World Bank 2014
Subjects:
ANNUITY
BENEFITS FOR WOMEN
COMPENSATION
CONTRIBUTION RATES
CONTRIBUTION SYSTEM
CONTRIBUTIONS OF WOMEN
CULTURAL CHANGE
DEFINED CONTRIBUTION SYSTEM
DISABILITY
DISABILITY PENSIONS
EARLY DEATH
EDUCATED WOMEN
ELDERLY
ELDERLY MEN
ELDERLY POPULATION
ELDERLY WOMEN
EXTENDED FAMILY
FAMILIES
FAMILY PLAN
FEMALE
FEMALE WORK
FEMALES
FUTURE PENSION
GENDER
GENDER BIAS
GENDER DIFFERENCE
GENDER DIFFERENCES
GENDER DISPARITY
GENDER GAP
GENDER IMPACT
GENDERS
HEALTH CARE
HEALTH INSURANCE
HIGHLY EDUCATED WOMEN
HUMAN CAPITAL
HUSBAND
HUSBANDS
INCOME-GENERATING ACTIVITIES
INDEXED ANNUITY
INDIVIDUAL BENEFITS
INDIVIDUAL INCOMES
INDIVIDUAL RETIREMENT ACCOUNTS
INSURANCE
INSURANCE COMPANIES
INSURANCE COMPANY
JOINT ANNUITIES
JOINT ANNUITY
LABOR FORCE
LABOR FORCE PARTICIPATION
LABOR MARKET
LABOR MARKETS
LAWS
LEVEL OF EDUCATION
LIFE EXPECTANCIES
LIFE EXPECTANCY
LIVING STANDARDS
LONGER LIFE
MARITAL STATUS
MARRIAGE AGE
MARRIED COUPLE
MARRIED COUPLES
MARRIED MAN
MARRIED MEN
MARRIED WOMAN
MARRIED WOMEN
MINIMUM BENEFIT
MINIMUM INCOME
MINIMUM INCOMES
MULTIPILLAR SYSTEM
NATIONAL HEALTH SYSTEM
OLD AGE
OLD SYSTEM
OLD-AGE
OLD-AGE PENSIONS
OLDER WOMEN
PARENTS
PAY-AS-YOU-GO SYSTEM
PAYROLL TAX
PAYROLL TAXES
PENSION
PENSION AGE
PENSION AGES
PENSION AT RETIREMENT
PENSION BENEFITS
PENSION FUND
PENSION FUNDS
PENSION INSURANCE
PENSION PROGRAM
PENSION REFORM
PENSION SYSTEM
PENSIONABLE AGE
PENSIONER
PENSIONS
POLICY RESEARCH
PREMATURE DEATH
PRIMARY SCHOOLING
PUBLIC PILLAR
REPLACEMENT RATE
REPLACEMENT RATES
RESPECT
RETIREE
RETIREMENT
RETIREMENT AGE
RETIREMENT AGES
RETIREMENT BENEFIT
RETIREMENT BENEFITS
RETIREMENT INCOME
RETIREMENT INCOMES
RETIREMENT PLAN
RURAL AREAS
SAFETY NET
SECONDARY EDUCATION
SECONDARY SCHOOL
SECONDARY SCHOOL EDUCATION
SECONDARY SCHOOLING
SEX
SINGLE MEN
SINGLE WOMEN
SOCIAL SECURITY
SOCIAL SECURITY BENEFITS
SOCIAL SECURITY REFORM
SOCIAL SECURITY SYSTEM
SOCIAL SECURITY SYSTEMS
STATE UNIVERSITY
TAX RATE
TAX RATES
URBAN AREAS
URBAN WOMEN
VULNERABILITY
WIDOW
WIDOWS
WIFE
WILL
WIVES
WORKING WOMEN
WORKING-AGE POPULATION
YOUNG WOMEN
Online Access:http://documents.worldbank.org/curated/en/2002/09/17741988/gender-effects-social-security-reform-chile
http://hdl.handle.net/10986/17211
Description
Summary:In 1981 Chile replaced a mature government-run social security system that operated on a pay-as-you-go basis with a privately managed system based on individual retirement accounts. The new system is more fiscally sustainable because pension benefits are defined by contributions. The minimum pension guaranteed to beneficiaries with at least 20 years is funded from general taxes, preserving the tight matching between contributions and benefits. The new system also eliminates several cross-subsidies. Men and women with less than secondary education gain under the new system, but single women with more education lose. Comparison of the old and the new systems reveals a complex set of factors that cause gender effects given constant behavior or change behavior across genders.

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