Pension privatization: Three decades of failure

Abstract

From 1981 to 2014, thirty countries fully or partially privatized their social security public mandatory pensions; as for 2018, eighteen countries had re-reformed and reversed pension privatization. This report analyses the failure of the private mandatory pensions to improve the security of income in old age and its low performance in coverage rates, benefit levels, administrative costs, transition costs, and negative social and tax impacts, among others.