From Reform to Crisis: Argentina's Pension System

Posted: 29 Nov 2004

See all articles by Fabio Bertranou

Fabio Bertranou

International Labour Organization

Rafael Rofman

World Bank - Social Protection Unit; University de Buenos Aires

Carlos Grushka

Superintendencia de AFJP (SAFJP)

Abstract

Argentina underwent economic and social collapse in December 2001. The crisis brought the worst socioeconomic indicators in its history, and the pensions system was not immune from this disaster, which was unparalleled in any middle-income developing country. In 1994 the pensions system was restructured, and was regarded as a viable model for other reforms elsewhere. This article discusses in general terms the features of the current pensions scheme, the structural problems that were not resolved in the reform of 1994, the relation between that reform and the government's financial crisis, and the impact of the economic collapse on the pensions system. Finally, it discusses some aspects of the challenges faced in building a system that is both financially viable and has the potential to close the major gaps in coverage affecting both the working population and the aged.

Keywords: Social security, pensions, Argentina, coverage

JEL Classification: H55

Suggested Citation

Bertranou, Fabio and Rofman, Rafael and Grushka, Carlos, From Reform to Crisis: Argentina's Pension System. Available at SSRN: https://ssrn.com/abstract=624069

Fabio Bertranou (Contact Author)

International Labour Organization ( email )

Av. Cordoba 950
Piso 13
Buenos Aires, C1054AAV
Argentina
54-11-43937076 (Phone)

HOME PAGE: http://www.ilo.org

Rafael Rofman

World Bank - Social Protection Unit ( email )

Bouchard 547
piso 29 CP1106
Buenos Aires
Argentina

University de Buenos Aires

Buenos Aires
Argentina

Carlos Grushka

Superintendencia de AFJP (SAFJP) ( email )

Tucuman 500
Buenos Aires, C1049AAJ
Argentina

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