NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Alberto Arenas de Mesa

Centro de Microdatos
Universidad de Chile

Institutional Affiliation: Universidad de Chile

NBER Working Papers and Publications

August 2006The Chilean Pension Reform Turns 25: Lessons From the Social Protection Survey
with David Bravo, Jere R. Behrman, Olivia S. Mitchell, Petra E. Todd: w12401
In 1980, Chile dramatically reformed its retirement system, replacing what was an old insolvent PAYGO program with a new structure that relies heavily on funded defined contribution individual accounts. In addition, eligibility and benefit requirements were standardized, and a safety net for old-age poverty was strengthened. Twenty-five years after this reform, the Chilean model is being re-assessed, in terms of coverage, contribution, investment, and retirement benefit outcomes. This paper introduces a recently-developed longitudinal survey of individual respondents in Chile, the Social Protection Survey (or Encuesta de PrevisiĆ³n Social, EPS), and illustrates some uses of this survey for microeconomic analysis of key aspects of the Chilean system.

Published: Kay, Stephen and Tapen Sinha (eds.) Lessons from Pension Reform in the Americas. Oxford: OUP, 2008.

 
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