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 … much more progressive, but still, because low-income workers do not qualify for minimum pensions, between 50-60% of …

transfers to and from the Brazilian State. Among the transfers from the State are wages of public workers, pensions and social … and pensions – are very concentrated and regressive. Factors related to the private sector are still concentrated, but …

Security pensions, unemployment benefits and Social Assistance transfers. The income flows to the State comprise direct taxes … pensions - are very concentrated and regressive. Factors related to the private sector are still concentrated, but progressive …