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Latin American pension systems: institutional framework, public expenditure and financial sustainability in times of COVID-19 – ECLAC – August 2020

10 November, 2020

This study provides background information for creating a database of public expenditure on pension systems in the region, as well as projections of financial commitments for pension schemes.

According to the study, considering data from a group of countries (Argentina, Chile, Colombia, Costa Rica, El Salvador, Mexico, Peru and Uruguay), public expenditure on pension systems increased from 4.8% to 5.5% of GDP between 2000 and 2017. Furthermore, according to the report, the projections of financial commitments for 17 countries in the region indicate that public expenditure on pensions would grow from 4.2% to 5.7% of GDP between 2017 and 2030, considering accelerated aging in the region and potential advances in non-contributory schemes, such as coverage of 40% of the population aged 65 and over, and a level of benefits equivalent to the poverty line.

To review the study, download it here (only the Spanish version available).

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