IS THE LATIN AMERICAN PENSION REFORM MODEL TRANSFERABLE? AN ASSESSMENT UTILIZING THE VENEZUELAN SOCIAL SECURITY SYSTEM

Abstract

Social pension and security systems worldwide are experiencing difficulties in maintaining the financing required to provide promised benefits. Despite their economic and political difficulties, many Latin American countries have arguably been more proactive and innovative with the implementation of social security reform than other regions of the world. Suggestions for reform of the Social Security system in Venezuela are provided by integrating many of the same concepts found in other restructurings in Latin America. It is the conclusion of this analysis that, given the political and economic instability of the region, a major overhaul of the existing system is not politically feasible. An incremental approach with minimal disruption is more attainable given the circumstances.

Citation

Query, J.T. and Diz, E. (2005), "IS THE LATIN AMERICAN PENSION REFORM MODEL TRANSFERABLE? AN ASSESSMENT UTILIZING THE VENEZUELAN SOCIAL SECURITY SYSTEM", Arbelaez, H. and Click, R.W. (Ed.) Latin American Financial Markets: Developments in Financial Innovations (International Finance Review, Vol. 5), Emerald Group Publishing Limited, Leeds, pp. 441-460. https://doi.org/10.1016/S1569-3767(05)05020-X