Overview: Lessons from Pension Reform in the Americas*
This chapter begins with a brief discussion of the introduction of a state-sponsored pay-as-you-go (PAYGO) pension system in Germany over a century ago, and pension reform in Latin American countries. It then considers the shift in the process of pension reform in organizations such as the World Bank and the International Monetary Fund, and countries such as Chile, beginning in 2004. An overview of the succeeding chapters is presented.
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