In 1994 Colombia started replacing its state-run and pay-as-you-go (PAYG) pension system by a privately-run and fully-funded scheme. This study analyzes prospective fiscal and macroeconomic implications of this reform. It compares the features of Colombia's old and new pension system, puts them into broader international context, and looks at the reform transition. Numerical simulations for the government's reform transition reveal implicit PAYG debt...
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INFORMATION
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1995/11/30
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Publication
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WDP314
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1
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1
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2010/07/01
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Colombia's pension reform : fiscal and macroeconomic effects
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pension system
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