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'This collection of essays on a rapidly developing topic is a valuable addition to the field and the editors must be congratulated on beginning to bring the area to the attention of thinkers and government (not necessarily the same thing), who are charged with dealing with the challenge of controlling private pension provision.' - Robin Ellison, Pensions
Social security institutions have been among the most stable post-war social programs around the world. Increasingly, however, these institutions have undergone profound transformation from public risk-pooling systems to individual market-based designs. Why has this 'privatization' occurred? Why do some governments enact more radical pension privatizations than others? This book provides a theoretical and empirical account of when and to what degree governments privatize national old-age pension systems. Quantitative cross-national analysis simulates the degree of pension privatization around the world and tests competing hypotheses to explain reform outcomes. In addition, comparative analysis of pension reforms in Argentina, Brazil, Mexico and Uruguay evaluate a causal theory of institutional change. The central argument is that pension privatization emerges from political conflict, rather than from exogenous pressures. The argument is developed around three dimensions: the double bind of globalization, contingent path-dependent processes, and the legislative politics of loss imposition.
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Presents texts of and comments on laws regulating the social protection of retired workers.
Complementary and Private Pensions Throughout the World 2008 provides in-depth information on the regulation and supervision of voluntary and mandatory occupational pension plans as well as mandatory private pension schemes in 58 countries worldwide.
First published in 1998, this volume initially focused on Chilean pension reform, on which the author has published elsewhere, before moving onto Latin America more widely, with coverage extending from 1990 to the reform in Costa Rica and the Mexican pension reform in 1997. It emerged in the wake of reforms including in Peru (1993), Argentina and Colombia (1994) and Uruguay (1996). Particular focus is given to the new individual capitalization pension plans, along with arguments on the ignoring of pension schemes and its consequences, the connection of pension schemes to the labour market and the impact of pension schemes on the least advantaged. The Chilean model in particular has received praise from the IMF and the World Bank and these Latin American pension reforms will be of interest as a paradigm for other countries.