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Universal Minimum Old Age Pensions : Impact on Poverty and Fiscal Cost in 18 Latin American Countries

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dc.contributor.authorDethier, Jean-Jacques
dc.contributor.authorPestieau, Pierre
dc.contributor.authorAli, Rabia
dc.date.accessioned2012-03-19T18:39:40Z
dc.date.available2012-03-19T18:39:40Z
dc.date.issued2010-05-01
dc.description.abstractAlleviating poverty for the elderly requires a different approach from other age groups, and a minimum pension is likely to be the only viable option. This paper examines the impact on old age poverty and the fiscal cost of universal minimum old age pensions in 18 Latin American countries using recent household survey data. First the authors measure old age poverty rates for these countries. Then they discuss the design of minimum pensions schemes -- means-tested or not -- as well as the disincentives they introduce for the economic and social behavior of households including labor supply, saving and family solidarity. Finally, the authors use household survey data to simulate the fiscal cost and the impact on poverty rates of alternative minimum pension schemes in the 18 countries. They show that a universal minimum pension would substantially reduce poverty among the elderly (except in Argentina, Brazil, Chile and Uruguay where minimum pension systems already exist and poverty rates are low). Such schemes have much to be commended in terms of incentives, spillover effects and administrative simplicity, but they have a high fiscal cost. The latter is a function of the age at which benefits are awarded, the prevailing longevity, the generosity of benefits, the efficacy of means testing, and the fiscal capacity of the country.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100506135339
dc.identifier.doi10.1596/1813-9450-5292
dc.identifier.urihttps://hdl.handle.net/10986/3779
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5292
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSOLUTE TERMS
dc.subjectADMINISTRATIVE COSTS
dc.subjectALLOCATION OF RESOURCES
dc.subjectARBITRAGE
dc.subjectASYMMETRIC INFORMATION
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBUDGET CONSTRAINT
dc.subjectCASH TRANSFER
dc.subjectCHILD LABOR
dc.subjectCHILD MORTALITY
dc.subjectCITIZENSHIP
dc.subjectCONSUMPTION BASKET
dc.subjectCONSUMPTION DATA
dc.subjectCONVERSIONS
dc.subjectDECLINE IN POVERTY
dc.subjectDEMAND FOR FOOD
dc.subjectDEPENDENCY RATIOS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ASSISTANCE
dc.subjectDURABLE
dc.subjectDURABLE GOODS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC TRANSITION
dc.subjectELDERLY
dc.subjectELDERLY HOUSEHOLDS
dc.subjectELDERLY PEOPLE
dc.subjectELDERLY PERSONS
dc.subjectEQUALITY OF OPPORTUNITY
dc.subjectEXPENDITURE
dc.subjectEXTENDED FAMILIES
dc.subjectEXTENDED FAMILY
dc.subjectFAMILY COMPOSITION
dc.subjectFAMILY INCOME
dc.subjectFAMILY MEMBERS
dc.subjectFAMILY SIZE
dc.subjectFAMILY STRUCTURE
dc.subjectFAMILY STRUCTURES
dc.subjectFAMILY TIES
dc.subjectFAMILY UNIT
dc.subjectFAMILY UNITS
dc.subjectFERTILITY
dc.subjectFINANCIAL RISK
dc.subjectFISCAL CAPACITY
dc.subjectFISCAL POLICIES
dc.subjectFOOD POLICY
dc.subjectGENDER EQUALITY
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CARE
dc.subjectHOUSEHOLD CONSUMPTION
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD INCOMES
dc.subjectHOUSEHOLD PER CAPITA INCOME
dc.subjectHOUSEHOLD SIZE
dc.subjectHOUSEHOLD SURVEY
dc.subjectHOUSEHOLD SURVEYS
dc.subjectHOUSING
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMPACT ON POVERTY
dc.subjectINCIDENCE OF POVERTY
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINCOME INEQUALITIES
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINCOME POVERTY
dc.subjectINDICATOR OF POVERTY
dc.subjectINDIVIDUAL DECISIONS
dc.subjectINEQUALITY
dc.subjectINFANT
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE PREMIUM
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
dc.subjectINTERNATIONAL POVERTY LINE
dc.subjectLABOR FORCE
dc.subjectLABOR SUPPLY
dc.subjectLIFE EXPECTANCY
dc.subjectLOCAL CURRENCY
dc.subjectLOW POVERTY RATES
dc.subjectLOW-INCOME COUNTRIES
dc.subjectMEANS TESTING
dc.subjectMEASUREMENT OF POVERTY
dc.subjectMICRODATA
dc.subjectMONETARY FUND
dc.subjectNATURAL RESOURCES
dc.subjectNEWBORN
dc.subjectNUMBER OF ADULTS
dc.subjectNUMBER OF CHILDREN
dc.subjectOLD AGE
dc.subjectOLD AGE PENSION
dc.subjectOLD AGE POVERTY
dc.subjectOLD-AGE
dc.subjectOLDER PEOPLE
dc.subjectPENSION
dc.subjectPENSION INCOME
dc.subjectPENSION REFORM
dc.subjectPENSION RIGHTS
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONS
dc.subjectPERSONAL INCOME
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY RESEARCH WORKING PAPER
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL SUPPORT
dc.subjectPOOR
dc.subjectPOOR AREAS
dc.subjectPOOR COUNTRIES
dc.subjectPOOR FAMILIES
dc.subjectPORTFOLIO
dc.subjectPOVERTY GAP
dc.subjectPOVERTY GAP INDEX
dc.subjectPOVERTY LEVEL
dc.subjectPOVERTY LEVELS
dc.subjectPOVERTY LINE
dc.subjectPOVERTY RATE
dc.subjectPOVERTY RATES
dc.subjectPOVERTY REDUCTION
dc.subjectPOVERTY THRESHOLD
dc.subjectPRICE SUBSIDIES
dc.subjectPROGRESS
dc.subjectPUBLIC POLICY
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectREDUCTION IN POVERTY
dc.subjectRESPECT
dc.subjectRETURN
dc.subjectRICHER COUNTRIES
dc.subjectRURAL
dc.subjectRURAL AREAS
dc.subjectRURAL INCOMES
dc.subjectRURAL POPULATION
dc.subjectRURAL WORKERS
dc.subjectSAFETY NET
dc.subjectSOCIAL AFFAIRS
dc.subjectSOCIAL ASSISTANCE
dc.subjectSOCIAL INSURANCE PROGRAMS
dc.subjectSOCIAL POLICY
dc.subjectSOCIAL PRESSURE
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL WELFARE
dc.subjectSPILLOVER
dc.subjectSTOCK MARKET
dc.subjectTAX
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPORTATION
dc.subjectUNITED NATIONS POPULATION DIVISION
dc.subjectURBAN POPULATION
dc.subjectWELFARE INDICATOR
dc.subjectWOMAN
dc.subjectWORLD POPULATION
dc.titleUniversal Minimum Old Age Pensions : Impact on Poverty and Fiscal Cost in 18 Latin American Countriesen
dspace.entity.typePublication
okr.crossref.titleUniversal Minimum Old Age Pensions : Impact On Poverty And Fiscal Cost In 18 Latin American Countries
okr.date.doiregistration2025-04-10T11:51:31.266133Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100506135339
okr.globalpracticePoverty
okr.globalpracticeHealth, Nutrition, and Population
okr.guid397501468299147949
okr.identifier.doi10.1596/1813-9450-5292
okr.identifier.externaldocumentum000158349_20100506135339
okr.identifier.internaldocumentum12208879
okr.identifier.reportWPS5292
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/05/06/000158349_20100506135339/Rendered/PDF/WPS5292.pdfen
okr.region.administrativeLatin America and Caribbean
okr.region.administrativeLatin America and Caribbean
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicPoverty Reduction::Rural Poverty Reduction
okr.topicHealth, Nutrition and Population
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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