The privatization of social security and women's welfare: Gender effects of the chilean reform

Alberto Arenas De Mesa, Veronica Montecinos

Research output: Contribution to journalArticle

41 Citations (Scopus)

Abstract

The study shows that the new privately managed pension system in Chile has increased gender inequalities. Women are worse off than they were under the old pay-as-you-go system of social security, in which the calculation of benefits for men and women did not differ and women could obtain pensions with fewer requirements than men. Currently, benefits are calculated according to individuals' contributions and levels of risk. Such factors as women's longer life expectancy, earlier retirement age, lower rates of labor-force participation, lower salaries, and other disadvantages in the labor market are directly affecting their accumulation of funds in individual retirement accounts, leading to lower pensions, especially for poorer women. Lessons from the Chilean reform should encourage scholars, policy makers, and the general public to engage in debates that more adequately incorporate gender variables in designing and implementing policy changes.

Original languageEnglish (US)
Pages (from-to)7-37
Number of pages31
JournalLatin American Research Review
Volume34
Issue number3
StatePublished - Jan 1 1999

Fingerprint

social security
privatization
gender
welfare
reform
pension
retirement
early retirement age
pension system
pay-as-you-go
life expectancy
labor force participation
salary
labor market
Chile
effect
woman
Gender effects
Social security
Privatization

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Cultural Studies
  • History
  • Development
  • Anthropology
  • Sociology and Political Science
  • Arts and Humanities(all)
  • General
  • Political Science and International Relations
  • Economics, Econometrics and Finance(all)
  • Literature and Literary Theory

Cite this

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The privatization of social security and women's welfare : Gender effects of the chilean reform. / De Mesa, Alberto Arenas; Montecinos, Veronica.

In: Latin American Research Review, Vol. 34, No. 3, 01.01.1999, p. 7-37.

Research output: Contribution to journalArticle

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