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Social Security Issues in Developing Countries: The Latin American Experience
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1988: Issue 021
Language:
English
Publication Date:
01 Jan 1988
DOI:
https://doi.org/10.5089/9781451921373.001
ISBN:
9781451921373
ISSN:
1018-5941
Pages:
59
Keywords:
WP; social security; tax finances; real value; tax-transfer mechanism; retirement age; tax remittance; value-added taxation; GDP deflator; expenditure increase; expenditure ratio; wage bill; family allowance; social security expenditure; extent expenditure; health expenditures of the social security system; Securities; Pensions; Pension spending; Payroll tax; Income; Central America
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper surveys the major economic, financial, and administrative issues that confront social security systems in Latin America. The larger systems have contributed substantially to public sector financial disequilibria. Expenditures of the younger systems with more limited coverage could increase dramatically as the pension plan matures, life expectancy increases, and coverage is broadened, but the narrow revenue base will force a tradeoff between broader coverage and the generosity of benefits. Most plans are pay-as-you-go, and the case for full or partial funding is not found to be compelling. The inflationary environment can have a substantial effect on the financial balance, even under full indexation.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund