Rafael Rofman

• PhD
• Program Leader for Education, Health, Social Protection, Poverty in Argentina, Paraguay and Uruguay at World Bank

This article addresses the reforms introduced in Latin American pension systems that had the aim of increasing coverage beyond formal-sector workers. For this purpose, fourteen representative regional experiences are analysed using a taxonomy based on features of the cases examined in terms of design, implementation and results. The findings show t...

El proceso de transición demográfica por el que se encuentra atravesando Argentina, es una ventana tanto de oportunidades como de desafíos en materia económica y social. Argentina es aún un país joven en el cual la población en edad de trabajar representa la mayor proporción de su población total. Actualmente, acaba de comenzar un período de 30 año...

Este documento presenta un análisis de la cobertura de los sistemas previsionales en América Latina en las últimas décadas. El mismo incluye los resultados de la recolección, revisión y procesamiento de Encuestas de Hogares en 18 países de la región abarcando un periodo de casi 40 años en algunos casos, para medir la cobertura previsional tanto en...

This document presents an analysis of pension coverage trends in Latin America for the past decades. Its preparation involved the collection, revision, and processing of household surveys in over 18 countries in the region, spanning a period of almost 40 years in some cases. The main goal of this document is to offer comparable data on pension cove...

In the context of a serious financial, and legal crisis, Argentina reformed its pension system in 1994, when a multi-pillar model with a funded scheme was introduced, and first pillar parameters, as minimum age and vesting requirements were tightened. The new system has a significant first pillar (which offers a flat benefit, currently valued at 28...

En este trabajo se describen las recientes reformas previsionales en la Argentina y Chile. Con ellas se pretendió en los años ochenta y noventa mejorar la sostenibilidad fiscal de largo plazo y el diseño institucional de los sistemas, trasladando parte de los riesgos sociales y económicos desde el Estado a los participantes. En años recientes, las...

This article describes the most recent pension reforms in Argentina and Chile. The previous reforms, implemented in the 1980s and 1990s, aimed to improve long-term fiscal sustainability and institutional design of the systems, shifting part of the social and economic risks away from the State and on to participants. In recent years, the authorities...

This paper describes the recent reforms of pension policies adopted by Argentina and Chile. The structural reforms in the 1980s and 90s were targeted on improving the long term fiscal sustainability of the system and their institutional design, while transferring part of the economic and social risks from the State to participants. However, in rece...

Pension systems’ performance around the world can be usually assessed by considering three dimensions: coverage, adequacy, and sustainability. This paper focuses on the coverage dimension, looking at empirical data in Latin America. It represents a review and expansion of a previous analysis (such as Rofman and Carranza, 2005), as it corrects a few...

This chapter discusses pension reform in Argentina. Argentina instituted a major pension reform in 1994 following an extremely serious macroeconomic crisis. Partly inspired by Chile's experience, it replaced its PAYGO system with a mixed model that incorporated elements of both public and private systems. It is argued that the pension reform was ac...

For almost a decade, the debate on social security in the region has revolved around the diversification of risks, macroeconomic effects of the systems, and private sector participation in their management. Now, however, many analysts are starting to focus on the issue of coverage. The debate on social security coverage has been complicated by a la...

Argentina underwent economic and social collapse in December 2001. The crisis brought the worst socioeconomic indicators in its history, and the pension system was not immune from this disaster, which was unparalleled in any middle-income developing country. In 1994 the pension system had been restructured, and was regarded as a viable model for ot...

Over the past two decades Latin America has experienced major demographic, economic and social changes. The trend towards accelerated ageing of the population in most countries, together with the financial restrictions faced by social protection systems, has brought sweeping changes in pension programmes. The new demographic and labour context pres...

In a context of serious financial and legal crisis, Argentina reformed its pension system in 1994, when a multipillar model with a funded scheme was introduced and first-pillar parameters, such as minimum age and vesting requirements, were tightened. The new system has a large first pillar (which offers a flat benefit of 28 percent of average wage...

ISSA/ACT/SEM/01/I-C Annuitization in pension schemes

Collecting social security contributions is an important operational issue in all types of pension systems. Many regimes are plagued by poor compliance and weak, inefficient administration. Some countries have tried to introduce an automatic incentive to contribute by moving systems closer to"actuarial fairness,"where pension benefits are more stri...

El Sistema Integrado de Jubilaciones y Pensiones -- Metodología -- Los Supuestos -- Supuestos Alternativos -- Resultados -- Discusión -- Los Escenarios Alternativos -- Conclusiones

"In a recent paper, Lee and Carter developed a new method for analyzing and forecasting time series of age specific mortality, and applied it to the U.S. population. In this paper, we extend that method to deal with various problems of incomplete data common in Third World populations, and then apply the method to forecast mortality in Chile." (SUM...

PIP: Adult mortality differentials in Argentina are estimated and analyzed using data from the National Social Security Administration. The study of adult mortality has attracted little attention in developing countries because of the scarcity of reliable statistics and the greater importance assigned to demographic phenomena traditionally associat...

By the early 1960s, Colombia was one of the fastest growing countries in the world. With a total fertility rate of seven children per woman and a rapidly declining mortality, its population was growing at a rate that would double in size every 22 years. But from the years 1973 - 1985 the doubling time increased to 41 years. This slowdown in growth,...

A growing number of countries have introduced mandatory defined contribution schemes. As these schemes mature, their success will increasingly depend on how well they translate accumulated funds into a stream of retirement income. Successful reforms will rely on a well regulated, and competitive insurance sector. They will strike a balance between...

The regulation and supervision of pension funds is a critical part of building public confidence in a funded-pension system. This paper argues that confidence is best bolstered by an independent, autonomous and transparent supervision agency, particularly when previous systems had failed. The choice between proactive and reactive supervision depend...