Aguila, Emma; Hurd, Michael D.; Rohwedder, Susann - Institute for Social Research (ISR), University of Michigan - 2008
In 1997 Mexico introduced Personal Retirement Accounts (PRAs) which, after a transition phase, will completely replace the pay-as-you-go (PAYG) system. We give a detailed overview of the relevant institutional framework, the market of PRA providers and how it has evolved since the 1997 reform....