Untangling Chile’s Pension Reform
The government wants to overhaul the pension system, but a gradual modernization would be a more effective path.
SANTIAGO—In a country where the average life expectancy has increased from 67 to 80 years in just over a generation, maintaining a well-functioning pension system is not only critical but politically advisable. Even more so, considering Chile’s economy grows only 2% year-on-year, and by 2050, almost half of its population will be over 65 years old. How can the country confront this challenge In recent years, previous administrations have attempted to address the issue with limited success due to the ambitions of their proposals. Former Presidents Michelle Bachelet and Sebastián...
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