The re-reform of pension systems in Latin America. Analysis and proposals

Abstract

ince the first reform of the pensions' public systems in Latin America, that of Chile in the Pinochet era, several other countries took as well the track to capitalization Funds with a big amount of autonomy and privatization. But the trend was failing almost since the beginning, benefits were not sufficent, and the administration problems surmonted the control. So, the diverse Governments set up deep reforms which were niknamed by the local specialist as "re-reform", turning to more control and public intervention, as well as some limits to capitalization. Last countries to undergo the "re-reform" have been Mexico and Brasil. The present study shows the situation in Mexico today, in the eve of an all-around legislation which lasts dued to the political confrontation and to the economic interests under play, when its more than 1.000 pension funds, private or public, show an unacceptable state of the art.