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Rise and Fall of the Privatized Pension System in Chile : An International Perspective by Andrés Solimano (2025, Trade Paperback)
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About this product
Product Identifiers
PublisherAnthem Press
ISBN-101839994800
ISBN-139781839994807
eBay Product ID (ePID)22072886229
Product Key Features
Number of Pages122 Pages
Publication NameRise and Fall of the Privatized Pension System in Chile : an International Perspective
LanguageEnglish
SubjectGlobalization, Public Policy / Social Security, Development / Economic Development
Publication Year2025
TypeTextbook
Subject AreaPolitical Science, Business & Economics
AuthorAndrés Solimano
FormatTrade Paperback
Dimensions
Item Height0.5 in
Item Weight16 Oz
Item Length9 in
Item Width6 in
Additional Product Features
Intended AudienceScholarly & Professional
Dewey Edition23
ReviewsIn this book, some historical developments of the Chilean pension program can be found, starting from the decades before the privatization of the pension system in the 1980s and the period afterward up to the calls for the de-privatization of pension funds. This is a story that obviously needs to be told as the risks of selling the Chilean model as a solution to collapsing economies remain in Latin America where authorities are still tempted to privatize public services -- Luciano Bottini Filho Lecturer, Sheffield Hallam University and Ph.D. candidate, University of Bristol; Journal of Social Security Law; 2022, 29(2), 155-156., "Using his deep knowledge of Chile and of economics, Andres Solimano has provided a careful and highly informed analysis of that system and of its shortcomings, a system that became increasingly unfair with the passage of time. This is a must read for anyone interested in pension reforms." -- Vito Tanzi, Former Director of the Department of Fiscal Affairs, IMF
TitleLeadingThe
Dewey Decimal331.2520983
Table Of ContentAcknowledgments; 1 Introduction; 2 An Overview of Social Security: Purposes, Modalities and Historical Evolution; 3 The Rise and Fall of Pension Privatization in Latin America and Central and Eastern Europe; The Evolution of Social Protection and Pension Systems in Chile from the 19th Century until Its Privatization in the 1980s; Empirical Elements for Evaluating the Privatized Chilean Pension System; 6 Synthesis and Conclusions: Reform Paralysis and the Road to De-privatization; References; Index.
Synopsis'The Rise and Fall of the Privatized Pension System in Chile' focuses on the Chilean experience with a privatised pension system since the early 1980 when launched by the Pinochet regime. It explores economic, financial and political economy dimensions of a private pension system based on individual savings capacity implemented in a highly unequal country. The book also highlights the role played by the pension system as a mechanism of savings redistribution from wage earners and the self-employed to the funding of big corporations at home and abroad, in a process intermediated by profit-making pension fund management companies. The book compares the resilience of Chile's private pension system with the reversals of the privatised pension system in recent years in countries of Latin America and Central-Eastern Europe. It outlines a program of structural pension reform towards a more progressive, public-based system., 'The Rise and Fall of the Privatized Pension System in Chile' presents the rationale for the existence of social security systems and provides a historical discussion of its origins and evolution before turning to the four-decade-old Chilean experience with a privatised pension system. This experience is examined in historical and comparative perspective from the twentieth century up to the present. The book presents various hypotheses on the resilience of the privatised system in spite of the low level of pensions delivered to the population at large, underscoring the ability of the powerful fund managing companies lobby to veto reform proposals geared towards a return to a public-private system. The book also underscores the fiscal costs of the system, the high earnings of private pension managing companies and the macroeconomic role of the system in providing financial resources for investment and growth in a pattern driven by the large corporate sector. The book discusses the experience of Chile as a counter-current to the reversal of pension privatisation in Latin America and Central-Eastern Europe as also the scope for de-privatisation of social security in the country., 'The Rise and Fall of the Privatized Pension System in Chile' analyses the Chilean experience with a privatised pension system and examines its impact on pension levels for the ageing population, differences in benefits across different groups, impact on local capital markets, savings redistribution to big corporations and foreign countries, and high profit rates for pension fund managing companies.
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