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 …

Projections show public pensions to take an increasing share of GDP. This has lead to increased activity in the reform …

decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may …

pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …