Gender Pension Gaps in a Private Retirement Accounts System : A Dynamic Model of Household Labor Supply and Savings

Joubert, Clement ; Todd, Petra E.

World Bank, Washington, DC

关键词: PRIVATE PENSION;    GENDER GAP;    HOUSEHOLD LABOR;    SAVINGS;    RETIREMENT;   

DOI  :  10.1596/1813-9450-9322
RP-ID  :  WPS9322

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper develops and estimates adynamic model of individuals' and couples' laborsupply, savings, and retirement decisions to analyze how thedesign of a privatized pension system affects gender pensiongaps. Chile has one of the longest running nationwideprivate retirements accounts systems in the world, operatingsince 1980. It has served as a model for many countries andwas reformed in 2008 to alleviate old- age poverty andreduce gender pension gaps. The paper estimates the dynamicmodel using pre-reform data and compares the model'sshort-term predictions with available evidence on thereform's causal impacts. The analysis finds thathousehold structure is an important determinant of thebehavioral and distributional impacts of the reform. Thepaper evaluates how actual and counterfactual changes in thepension system design affect men's and women'seconomic decisions, pension receipts, and program costs overa longer time horizon. Three design features significantlyreduce gender pension gaps: expanding minimum pensionbenefit eligibility, providing a per-child pension bonus,and increasing women's retirement age to be equal to men's.