The Future of Pension Regimes in Latin America: Brazil, Mexico, Chile, Argentina and Colombia. Challenges and Perspectives

Abstract

This text analyzes the pension regimes in Latin America, taking into account the legal frameworks and the economic characteristics of Mexico, Chile, Argentina and Colombia, from which we derive an outline of the quality of life that future pensioners could have in each country.  The study begins by analyzing the institutions in charge of managing the savings accounts for the retirement of the workers in Mexico, as well as other branches in charge of ensuring the good performance of those. Subsequently, this text discusses in depth the functioning of the Retirement Funds Administrators in this country. Once the bases of the operation of the Mexican pension system are established, we proceed to scrutinize similar systems in other Latin American countries. From this analysis we offer some recommendations in order to improve the retirement system and therefore the quality of life in old age.