21 March, 2025
As of December 2021, the number of contributors to Latin American mandatory individually-funded systems (see Table 1) had increased by 6.3% in the previous 12 months and by 1.9% in the previous quarter, amounting to 40.6 million, reflecting a strong recovery in formal employment.
The Latin American pension funds in mandatory individually-funded systems, in turn, amounted to US$ 603,683 million by December 2021 (see Table 2), representing a reduction of -5.4% in the previous 12 months, mainly due to the reduction of pension funds in Chile (-20.1%) and Peru (-26.8%) caused by massive withdrawals of authorized pension funds in both countries. However, the December figure represents a 1.6% recovery in the value of funds compared to the previous quarter, which evidences the professional management of funds by managers in a context of high volatility in financial markets.
Table 1
No. of Contributors in the mandatory individually-funded systems in Latin America
| Country | Dec. 2020 | Sept. 2021 | Dec. 2021 | Quarterly Var. | Annual Var. |
|---|---|---|---|---|---|
| Colombia | 6,381,303 | 6,621,364 | 6,946,557 | 4.9% | 8.9% |
| Costa Rica | 1,167,647 | 1,205,473 | 1,248,015 | 3.5% | 6.9% |
| Chile | 5,508,288 | 5,705,413 | 5,927,047 | 3.9% | 7.6% |
| El Salvador | 719,388 | 767,528 | 798,057 | 4.0% | 10.9% |
| Mexico | 21,861,950 | 22,833,147 | 22,861,961 | 0.1% | 4.6% |
| Costa Rica (1) | 174,48 | 168,016 | 175,030 | 4.2% | 0.3% |
| Peru | 3,039,264 | 3,601,430 | n.a. | – | – |
| Dominican Republic | 1,603,485 | 1,738,419 | 1,830,601 | 5.3% | 14.2% |
| Uruguay | 819,024 | 836,827 | 850,764 | 1.7% | 3.9% |
| Total (2) | 38,235,565 | 39,876,187 | 40,638,032 | 1.9% | 6.3% |
Source: FIAP based on the data of the pension regulatory bodies of all countries.
Table 2
Funds managed in mandatory individually-funded pension systems in Latin America (Millions of USD at each date)
| Country | Dec. 2020 | Sept. 2021 | Dec. 2021 | Quarterly Var. | Annual Var. |
|---|---|---|---|---|---|
| Bolivia | 20,998 | 22,280 | 22,562 | 1.3% | 7.4% |
| Colombia | 92,343 | 88,687 | 89,878 | 1.3% | -2.7% |
| Costa Rica | 12,851 | 15,086 | 15,188 | 0.7% | 18.2% |
| Chile | 213,676 | 174,281 | 170,709 | -2.0% | -20.1% |
| El Salvador | 12,452 | 12,821 | 12,964 | 1.1% | 4.1% |
| Mexico | 233,652 | 241,287 | 250,593 | 3.9% | 7.3% |
| Costa Rica (1) | 812 | 831 | 839 | 1.0% | 3.3% |
| Peru | 45,069 | 30,882 | 32,996 | 6.8% | -26.8% |
| Dominican Republic | 11,107 | 12,909 | 13,164 | 2.0% | 18.5% |
| Uruguay | 16,053 | 17,344 | 17,351 | 0.0% | 8.1% |
| Total | 638,015 | 594,128 | 603,683 | 1.6% | -5.4% |
(1) Panama: Data corresponds to the Public Servants’ Individually Funded Pension Savings System.
Source: FIAP based on the data of the pension regulatory bodies of all countries.
For further details on the statistical information of the individually funded systems, please visit: https://www.fiapinternacional.org/en/estadisticas/
21 March, 2025
26 February, 2025
4 February, 2025
