Pooling, Savings, and Prevention: Mitigating the Risk of Old Age Poverty in Chile

Packard, Truman G.

World Bank, Washington, D.C.

关键词: OLD AGE ASSISTANCE;    SOCIAL INSURANCE PROGRAMS;    LABOR MARKET NEXUS;    PENSION REFORM;    SOCIAL SECURITY SYSTEMS;   

DOI  :  10.1596/1813-9450-2849
RP-ID  :  WPS2849

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Using data collected in a survey onrisk, and social insurance in Chile, the author funds thatworkers who entered the labor market after the pensionreform of 1981, have a greater "contributiondensity" than those who contributed to the previoussocial security system. Further, the expectation of carefrom children, and the amount spent on their education,significantly lowers the likelihood of contribution to thepension system. Workers who have met the contributoryrequirements to qualify for the minimum pension guaranteedby the government, are significantly less likely to continuemaking contributions. The likelihood of contributions beyondthe eligibility threshold being lowered further, the greaterthe market rental value of respondents' homes.Furthermore, individuals with a greater tolerance for riskcontribute, suggesting that there are retirement securityinvestments in Chile, that are perceived as relatively lessrisky than saving in the reformed pension system. Theresults indicate that housing could be one such investment.