Pensions Notes

This section presents the Pension Notes that has prepared the International Federation of Pension Fund Administrators (FIAP). These short articles focus on various topics of interest in pension matters. Those Pension Notes describe the topic, show the main results and evaluations that are highlighted in the relevant literature, and also show statistics that reinforce the content when appropriate. Below you can download each of these Notes.

April 2025

Pension Notes No 86- Pension reform approved in Chile: progress and pending challenges

January 2025

Pension Notes No 85 - Pension fund managers as catalysts for responsible investment

December 2024

Pension Notes No 84: Mechanisms for the inclusion of informal workers in social security

November 2024

Pension Notes No 83 - Reform of the Peruvian pension system: progress and pending challenges

October 2024

Pension Notes No 82: The proposed AFP members’ stock bidding in the Chilean pension system is not conducive to the improvement of pensions

September 2024

Pension Notes No 81: Individually funded savings as a catalyst in the development of pension systems worldwide

June 2024

Pension Notes N° 80 - Automatic enrolment in pension plans in Brazil and other jurisdictions

May 2024

Pension Notes N° 79 - Target replacement rate and parametric changes to pension systems

January 2024

Pension Notes N° 78 - What has made the most developed voluntary pension systems worldwide successful?

December 2023

Pension Notes N° 77 - Progress of Sustainable Investment in the Latin American Pension Funds

November 2023

Pension Notes N° 76 - 2023 CFA Global Pension Index: the importance of individual savings and the impact of AI on pension systems

October 2023

Pension Notes N° 75 - Performance of the Latin American pension funds in 2022

September 2023

Pension Notes N° 74 - Integration and complementation between different social security programs and incentives and disincentives to contribute to the contributory pension system in Latin American countries

August 2023

Pension Notes N° 73 - Main trends in pension systems worldwide

July 2023

Pension Notes - N° 72 Automatic enrollment worldwide: International experience and lessons for Latin America

May 2023

Pension Notes N° 71 - Diversification of pension fund investments: the Dominican experience

April 2023

Pension Notes N° 70 - Automatic Adjustment Mechanisms: Role and Lessons for the Pension Systems

March 2023

Pension Notes N° 69 - Gender gaps in pensions and seven proposals for improving women's pensions in FIAP countries

January 2023

Pension Notes N° - 68 - Eleven proposals for increasing contributory pension coverage in Latin America

December 2022

Pension Notes - No. 67 Mercer CFA 2022 Global Pension Index: Orientation of Global Pension Systems

November 2022

Pension Notes - No. 66 - Analysis and evolution of non-contributory old-age pensions in Latin America

September 2022

Pension Notes - No. 65 - Impact of demographic changes on PAYGO pension systems: International analysis

July 2022

Pension Notes - No. 64 - Recent proposals for improving Colombia's pension system

May 2022

Pension Notes - No. 63 - What reforms are needed to improve pensions in Latin America?

April 2022

Pension Notes - No. 62 - Europe expands individual funding to improve pensions: the implementation of the"Pan-European Personal Pension Product" (PEPP)

March 2022

Pension Notes - No. 61 - What can we learn from the Dutch and Swedish pension systems?

February 2022

Pension Notes - No. 60 - Mercer CFA World Pension Index 2021: evolution of the pension systems and the importance of private funded systems

January 2022

Pension Notes - No. 59 - Individual funding or PAYGO: The opposing paths of Europe and Latin America

December 2021

Pension Notes - No. 58 - Impact of withdrawals from Chilean pension funds on the economy and individuals

September 2021

Pension Notes - No. 57 - Where did the Argentine Pension Funds go?

August 2021

Pension Notes - No. 56 Saving via consumption as a complementary source for financing pensions: proposals and experiences to date

July 2021

Pension Notes No.55 – Perfomance of the latin american pension funds in 2020

June 2021

Pension Notes No.54 – Reform of the Mexican pension system

April 2021

Pension Notes No.53 – Global trend: The unsustainability of the PAYGO systems drives individually-funded mechanisms

March 2021

Pension Note No.52 – The Notional Defined Contributions System: Analysis and International Experience

February 2021

Pension Note No.51 – Withdrawal of pension funds: Defeating the Purpose of the Pension Systems. A review of the effects of this public policy

January 2021

Pension Notes No.50 – 2020 MERCER CFA World Pension Index: The impact of Covid-19 on pensions

October 2020

Pension Notes No. 49 – Automatic Enrollment for complementing pensions: the successful case of the United Kingdom

September 2020

Pension Notes No.48 – Pension fund withdrawals due to Covid-19

August 2020

Pension Notes No.47 – Reconsidering the pension-adjusted budget balance. What have we learned from recent second pillar reversals in Central and Eastern Europe?

June 2020

Pension Notes No.46 – Investment Portfolios of the Latin American Pension Funds

May 2020

Pension Notes No.45 – The challenges of Reverse Mortgage as a mechanism for supplementing pensions

April 2020

Pension Notes No.44 – Employabality of senior citizens: The case of FIAP countries in latinamerica

March 2020

Pension Notes No.43 – Pensions mechanisms for providing social security protection to the self-employed

February 2020

Pension Notes No.42 – Pension reform strategies for improving pensions

January 2020

Pension Notes No.41 – Pension System reforms anda their effects on paygo program deficits and the financing of the public budget

December 2019

Pension Notes No.40 – Melbourne Mercer Global Pension Index 2019: Lessons for Latin America

November 2019

Pension Notes No.39 – Young People in the labor market and pension perspectives: The cases of Chile, Colombia, Mexico and Peru

October 2019

Pension Notes No.38 – Structural changes in the labor market

September 2019

Pension Notes No.37 – New trends for incentivating Voluntary Pension Savings (VPS)

July 2019

Pension Notes No.36 – Proposed guidelines for second generation reforms of the pension systems

April 2019

Pension Notes No.35 – Mexico: Proposed Changes to the Pension Savings System Law

March 2019

Pension Notes No.34 – 2018 Mercer Global Pensions Index: Lessons for Latin America

January 2019

Pension Notes No.33 – Analysis of the Chilean Pension Reform Bill of Law

December 2018

Pension Notes No.32 – Pension Fund Investment in alternative assets: Chile and Mexico

November 2018

Pension Notes No.31 – Demographic reality forces European countries to introduce individually funded pension systems

October 2018

Pension Notes No.30 – The role of technology and behavioral economics in increasing pension savings: recent experiences in Chile, Colombia, Mexico and Peru

September 2018

Pension Notes No.29 – Unsustainability of the public PAYGO systems: The cases of Colombia, Argentina and Brazil

August 2018

Pension Notes No.28 – Migration and pension savings portability

July 2018

Pension Notes No.27 – Experiences with coverage programs for financing the care of dependent senior citizens

June 2018

Pension Notes No.26 – Proposals for reducing the gap between pension expectations and the pension amounts received in the Individually-funded System

May 2018

Pension Notes No.25 – Investment Portfolios of the Latin American Pension Funds

April 2018

Pension Notes No.24 – Non-contributory pension programs in Latin America

March 2018

Pension Notes No.23 – As the pension systems mature, it has become essential to improve the regulation and institutional framework of the decumulation phase

January 2018

Pension Notes No.22 – Voluntary pensions in emerging markets

December 2017

Pension Notes No.21 – Demographic trends make the PAYGO systems unviable

September 2017

Pension Notes No.20 – Crisis in the public PAYGO systems: The Cases of Spain, Costa Rica and Brazil

August 2017

Pension Notes No.19 – The Disability and Survival Insurance: Analysis of Chilean and Peruvian Experiences

July 2017

Pension Notes No.18 – A longevity insurance to contribute to financing old-age pensions in the Individually-Funded Systems

June 2017

Pension Notes No.17 – Incorporation of the self-employed to the pension system

May 2017

Pension Notes No.16 – The pension funds and best practices in socially responsible investment

April 2017

Pension Notes No.15 – Analysis of the Proposal for Unisex Mortality Tables for Calculating Old-Age Pensions in the Individually Funded System

March 2017

Pension Notes No.14 – 7 Recommendations for the decumulation stage of the Individually-Funded Pension Systems

February 2017

Pension Notes No.13 – The role of the pension funds in promoting better corporate governance standards

January 2017

Pension Notes No.12 – Investment in alternative assets in a world of low returns

December 2016

Pension Notes No.11 – Contributions of the Individually-Funded Pension Systems and their advantages over the Public PAYGO Programs

November 2016

Pension Notes No.10 – Free withdrawal of pension funds: Lessons learned from the UK experience

October 2016

Pension Notes No.9 – Chilean experience demonstrates the need to create a Technical Body for updating the Parameters of the Pension System

September 2015

Pension Notes No.7 – Importance of Voluntary Pension Saving, key factors for its development and some positive experiences

September 2015

Pension Notes No.6 – Pension Options in the Individually Funded Systems: Evaluation and Proposals for Improvement

May 2014

Pension Notes No.5 – Longevity Risk and Mechanisms for its Mitigation

July 2013

Pensions Notes No.4 – Pension reforms based on individual funding and their impact on fiscal sustainability

July 2013

Pensions Notes No.3 – The Importance of Voluntary Pensions Savings and Key Factors in its Development

May 2012

Pensions Notes No.2 – Existing Risk-Based Supervision in the Pension Funds: Review of the Chilean Case

June 2010

Pension Notes No.1 – Pension Funds Promote Higher Corporate Governance Standards

Pensions notes past

Pension Notes No 83 - Reform of the Peruvian pension system: progress and pending challenges

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Pension Notes No 82: The proposed AFP members’ stock bidding in the Chilean pension system is not conducive to the improvement of pensions

DOWNLOAD

Pension Notes No 81: Individually funded savings as a catalyst in the development of pension systems worldwide

DOWNLOAD

Pension Notes N° 80 - Automatic enrolment in pension plans in Brazil and other jurisdictions

DOWNLOAD

Pension Notes N° 79 - Target replacement rate and parametric changes to pension systems

DOWNLOAD

Pension Notes N° 78 - What has made the most developed voluntary pension systems worldwide successful?

DOWNLOAD

Pension Notes N° 77 - Progress of Sustainable Investment in the Latin American Pension Funds

DOWNLOAD

Pension Notes N° 76 - 2023 CFA Global Pension Index: the importance of individual savings and the impact of AI on pension systems

DOWNLOAD

Pension Notes N° 75 - Performance of the Latin American pension funds in 2022

DOWNLOAD

Pension Notes N° 74 - Integration and complementation between different social security programs and incentives and disincentives to contribute to the contributory pension system in Latin American countries

DOWNLOAD

Pension Notes N° 73 - Main trends in pension systems worldwide

DOWNLOAD

Pension Notes - N° 72 Automatic enrollment worldwide: International experience and lessons for Latin America

DOWNLOAD

Pension Notes N° 71 - Diversification of pension fund investments: the Dominican experience

DOWNLOAD

Pension Notes N° 70 - Automatic Adjustment Mechanisms: Role and Lessons for the Pension Systems

DOWNLOAD

Pension Notes N° 69 - Gender gaps in pensions and seven proposals for improving women's pensions in FIAP countries

DOWNLOAD

Pension Notes N° - 68 - Eleven proposals for increasing contributory pension coverage in Latin America

DOWNLOAD

Pension Notes - No. 67 Mercer CFA 2022 Global Pension Index: Orientation of Global Pension Systems

DOWNLOAD

Pension Notes - No. 66 - Analysis and evolution of non-contributory old-age pensions in Latin America

DOWNLOAD

Pension Notes - No. 65 - Impact of demographic changes on PAYGO pension systems: International analysis

DOWNLOAD

Pension Notes - No. 64 - Recent proposals for improving Colombia's pension system

DOWNLOAD

Pension Notes - No. 63 - What reforms are needed to improve pensions in Latin America?

DOWNLOAD

Pension Notes - No. 62 - Europe expands individual funding to improve pensions: the implementation of the"Pan-European Personal Pension Product" (PEPP)

DOWNLOAD

Pension Notes - No. 61 - What can we learn from the Dutch and Swedish pension systems?

DOWNLOAD

Pension Notes - No. 60 - Mercer CFA World Pension Index 2021: evolution of the pension systems and the importance of private funded systems

DOWNLOAD

Pension Notes - No. 59 - Individual funding or PAYGO: The opposing paths of Europe and Latin America

DOWNLOAD

Pension Notes - No. 58 - Impact of withdrawals from Chilean pension funds on the economy and individuals

DOWNLOAD

Pension Notes - No. 57 - Where did the Argentine Pension Funds go?

DOWNLOAD

Pension Notes - No. 56 Saving via consumption as a complementary source for financing pensions: proposals and experiences to date

DOWNLOAD

Pension Notes No.55 – Perfomance of the latin american pension funds in 2020

DOWNLOAD

Pension Notes No.54 – Reform of the Mexican pension system

DOWNLOAD

Pension Notes No.53 – Global trend: The unsustainability of the PAYGO systems drives individually-funded mechanisms

DOWNLOAD

Pension Note No.52 – The Notional Defined Contributions System: Analysis and International Experience

DOWNLOAD

Pension Note No.51 – Withdrawal of pension funds: Defeating the Purpose of the Pension Systems. A review of the effects of this public policy

DOWNLOAD

Pension Notes No.50 – 2020 MERCER CFA World Pension Index: The impact of Covid-19 on pensions

DOWNLOAD

Pension Notes No. 49 – Automatic Enrollment for complementing pensions: the successful case of the United Kingdom

DOWNLOAD

Pension Notes No.48 – Pension fund withdrawals due to Covid-19

DOWNLOAD

Pension Notes No.47 – Reconsidering the pension-adjusted budget balance. What have we learned from recent second pillar reversals in Central and Eastern Europe?

DOWNLOAD

Pension Notes No.46 – Investment Portfolios of the Latin American Pension Funds

DOWNLOAD

Pension Notes No.45 – The challenges of Reverse Mortgage as a mechanism for supplementing pensions

DOWNLOAD

Pension Notes No.44 – Employabality of senior citizens: The case of FIAP countries in latinamerica

DOWNLOAD

Pension Notes No.43 – Pensions mechanisms for providing social security protection to the self-employed

DOWNLOAD

Pension Notes No.42 – Pension reform strategies for improving pensions

DOWNLOAD

Pension Notes No.41 – Pension System reforms anda their effects on paygo program deficits and the financing of the public budget

DOWNLOAD

Pension Notes No.40 – Melbourne Mercer Global Pension Index 2019: Lessons for Latin America

DOWNLOAD

Pension Notes No.39 – Young People in the labor market and pension perspectives: The cases of Chile, Colombia, Mexico and Peru

DOWNLOAD

Pension Notes No.38 – Structural changes in the labor market

DOWNLOAD

Pension Notes No.37 – New trends for incentivating Voluntary Pension Savings (VPS)

DOWNLOAD

Pension Notes No.36 – Proposed guidelines for second generation reforms of the pension systems

DOWNLOAD

Pension Notes No.35 – Mexico: Proposed Changes to the Pension Savings System Law

DOWNLOAD

Pension Notes No.34 – 2018 Mercer Global Pensions Index: Lessons for Latin America

DOWNLOAD

Pension Notes No.33 – Analysis of the Chilean Pension Reform Bill of Law

DOWNLOAD

Pension Notes No.32 – Pension Fund Investment in alternative assets: Chile and Mexico

DOWNLOAD

Pension Notes No.31 – Demographic reality forces European countries to introduce individually funded pension systems

DOWNLOAD

Pension Notes No.30 – The role of technology and behavioral economics in increasing pension savings: recent experiences in Chile, Colombia, Mexico and Peru

DOWNLOAD

Pension Notes No.29 – Unsustainability of the public PAYGO systems: The cases of Colombia, Argentina and Brazil

DOWNLOAD

Pension Notes No.28 – Migration and pension savings portability

DOWNLOAD

Pension Notes No.27 – Experiences with coverage programs for financing the care of dependent senior citizens

DOWNLOAD

Pension Notes No.26 – Proposals for reducing the gap between pension expectations and the pension amounts received in the Individually-funded System

DOWNLOAD

Pension Notes No.25 – Investment Portfolios of the Latin American Pension Funds

DOWNLOAD

Pension Notes No.24 – Non-contributory pension programs in Latin America

DOWNLOAD

Pension Notes No.23 – As the pension systems mature, it has become essential to improve the regulation and institutional framework of the decumulation phase

DOWNLOAD

Pension Notes No.22 – Voluntary pensions in emerging markets

DOWNLOAD

Pension Notes No.21 – Demographic trends make the PAYGO systems unviable

DOWNLOAD

Pension Notes No.20 – Crisis in the public PAYGO systems: The Cases of Spain, Costa Rica and Brazil

DOWNLOAD

Pension Notes No.19 – The Disability and Survival Insurance: Analysis of Chilean and Peruvian Experiences

DOWNLOAD

Pension Notes No.18 – A longevity insurance to contribute to financing old-age pensions in the Individually-Funded Systems

DOWNLOAD

Pension Notes No.17 – Incorporation of the self-employed to the pension system

DOWNLOAD

Pension Notes No.16 – The pension funds and best practices in socially responsible investment

DOWNLOAD

Pension Notes No.15 – Analysis of the Proposal for Unisex Mortality Tables for Calculating Old-Age Pensions in the Individually Funded System

DOWNLOAD

Pension Notes No.14 – 7 Recommendations for the decumulation stage of the Individually-Funded Pension Systems

DOWNLOAD

Pension Notes No.13 – The role of the pension funds in promoting better corporate governance standards

DOWNLOAD

Pension Notes No.12 – Investment in alternative assets in a world of low returns

DOWNLOAD

Pension Notes No.11 – Contributions of the Individually-Funded Pension Systems and their advantages over the Public PAYGO Programs

DOWNLOAD

Pension Notes No.10 – Free withdrawal of pension funds: Lessons learned from the UK experience

DOWNLOAD

Pension Notes No.9 – Chilean experience demonstrates the need to create a Technical Body for updating the Parameters of the Pension System

DOWNLOAD

Pension Notes No.7 – Importance of Voluntary Pension Saving, key factors for its development and some positive experiences

DOWNLOAD

Pension Notes No.6 – Pension Options in the Individually Funded Systems: Evaluation and Proposals for Improvement

DOWNLOAD

Pension Notes No.5 – Longevity Risk and Mechanisms for its Mitigation

DOWNLOAD

Pensions Notes No.4 – Pension reforms based on individual funding and their impact on fiscal sustainability

DOWNLOAD

Pensions Notes No.3 – The Importance of Voluntary Pensions Savings and Key Factors in its Development

DOWNLOAD

Pensions Notes No.2 – Existing Risk-Based Supervision in the Pension Funds: Review of the Chilean Case

DOWNLOAD

Pension Notes No.1 – Pension Funds Promote Higher Corporate Governance Standards

DOWNLOAD

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Pensions Notes

Pension Notes No 83 - Reform of the Peruvian pension system: progress and pending challenges

Pension Notes No 82: The proposed AFP members’ stock bidding in the Chilean pension system is not conducive to the improvement of pensions

Pension Notes No 81: Individually funded savings as a catalyst in the development of pension systems worldwide

Pension Notes N° 80 - Automatic enrolment in pension plans in Brazil and other jurisdictions

Pension Notes N° 79 - Target replacement rate and parametric changes to pension systems

Pension Notes N° 78 - What has made the most developed voluntary pension systems worldwide successful?

Pension Notes N° 77 - Progress of Sustainable Investment in the Latin American Pension Funds

Pension Notes N° 76 - 2023 CFA Global Pension Index: the importance of individual savings and the impact of AI on pension systems

Pension Notes N° 75 - Performance of the Latin American pension funds in 2022

Pension Notes N° 74 - Integration and complementation between different social security programs and incentives and disincentives to contribute to the contributory pension system in Latin American countries

Pension Notes N° 73 - Main trends in pension systems worldwide

Pension Notes - N° 72 Automatic enrollment worldwide: International experience and lessons for Latin America

Pension Notes N° 71 - Diversification of pension fund investments: the Dominican experience

Pension Notes N° 70 - Automatic Adjustment Mechanisms: Role and Lessons for the Pension Systems

Pension Notes N° 69 - Gender gaps in pensions and seven proposals for improving women's pensions in FIAP countries

Pension Notes N° - 68 - Eleven proposals for increasing contributory pension coverage in Latin America

Pension Notes - No. 67 Mercer CFA 2022 Global Pension Index: Orientation of Global Pension Systems

Pension Notes - No. 66 - Analysis and evolution of non-contributory old-age pensions in Latin America

Pension Notes - No. 65 - Impact of demographic changes on PAYGO pension systems: International analysis

Pension Notes - No. 64 - Recent proposals for improving Colombia's pension system

Pension Notes - No. 63 - What reforms are needed to improve pensions in Latin America?

Pension Notes - No. 62 - Europe expands individual funding to improve pensions: the implementation of the"Pan-European Personal Pension Product" (PEPP)

Pension Notes - No. 61 - What can we learn from the Dutch and Swedish pension systems?

Pension Notes - No. 60 - Mercer CFA World Pension Index 2021: evolution of the pension systems and the importance of private funded systems

Pension Notes - No. 59 - Individual funding or PAYGO: The opposing paths of Europe and Latin America

Pension Notes - No. 58 - Impact of withdrawals from Chilean pension funds on the economy and individuals

Pension Notes - No. 57 - Where did the Argentine Pension Funds go?

Pension Notes - No. 56 Saving via consumption as a complementary source for financing pensions: proposals and experiences to date

Pension Notes No.55 – Perfomance of the latin american pension funds in 2020

Pension Notes No.54 – Reform of the Mexican pension system

Pension Notes No.53 – Global trend: The unsustainability of the PAYGO systems drives individually-funded mechanisms

Pension Note No.52 – The Notional Defined Contributions System: Analysis and International Experience

Pension Note No.51 – Withdrawal of pension funds: Defeating the Purpose of the Pension Systems. A review of the effects of this public policy

Pension Notes No.50 – 2020 MERCER CFA World Pension Index: The impact of Covid-19 on pensions

Pension Notes No. 49 – Automatic Enrollment for complementing pensions: the successful case of the United Kingdom

Pension Notes No.48 – Pension fund withdrawals due to Covid-19

Pension Notes No.47 – Reconsidering the pension-adjusted budget balance. What have we learned from recent second pillar reversals in Central and Eastern Europe?

Pension Notes No.46 – Investment Portfolios of the Latin American Pension Funds

Pension Notes No.45 – The challenges of Reverse Mortgage as a mechanism for supplementing pensions

Pension Notes No.44 – Employabality of senior citizens: The case of FIAP countries in latinamerica

Pension Notes No.43 – Pensions mechanisms for providing social security protection to the self-employed

Pension Notes No.42 – Pension reform strategies for improving pensions

Pension Notes No.41 – Pension System reforms anda their effects on paygo program deficits and the financing of the public budget

Pension Notes No.40 – Melbourne Mercer Global Pension Index 2019: Lessons for Latin America

Pension Notes No.39 – Young People in the labor market and pension perspectives: The cases of Chile, Colombia, Mexico and Peru

Pension Notes No.38 – Structural changes in the labor market

Pension Notes No.37 – New trends for incentivating Voluntary Pension Savings (VPS)

Pension Notes No.36 – Proposed guidelines for second generation reforms of the pension systems

Pension Notes No.35 – Mexico: Proposed Changes to the Pension Savings System Law

Pension Notes No.34 – 2018 Mercer Global Pensions Index: Lessons for Latin America

Pension Notes No.33 – Analysis of the Chilean Pension Reform Bill of Law

Pension Notes No.32 – Pension Fund Investment in alternative assets: Chile and Mexico

Pension Notes No.31 – Demographic reality forces European countries to introduce individually funded pension systems

Pension Notes No.30 – The role of technology and behavioral economics in increasing pension savings: recent experiences in Chile, Colombia, Mexico and Peru

Pension Notes No.29 – Unsustainability of the public PAYGO systems: The cases of Colombia, Argentina and Brazil

Pension Notes No.28 – Migration and pension savings portability

Pension Notes No.27 – Experiences with coverage programs for financing the care of dependent senior citizens

Pension Notes No.26 – Proposals for reducing the gap between pension expectations and the pension amounts received in the Individually-funded System

Pension Notes No.25 – Investment Portfolios of the Latin American Pension Funds

Pension Notes No.24 – Non-contributory pension programs in Latin America

Pension Notes No.23 – As the pension systems mature, it has become essential to improve the regulation and institutional framework of the decumulation phase