Altamirano, Alvaro; Oliveri, María Laura; Bosch Mossi, … - 2023
This paper examines the implicit subsidies within pension systems across Latin America and the Caribbean (LAC) region … average, LAC's pension systems are subsidized, as they provide pensions above what workers would have obtained by investing … replacement rates (pensions relative to earnings) for low-income workers. Despite this progressivity, in some countries, absolute …