Intelligence Series - Banking

The Pension Problem

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Intelligence Series Banking

Pensions are a hot topic in Latin America. Populations are aging, governments are facing fiscal pressure and cracks are showing in private systems, where factors such as contribution gaps and weak returns are leading to small pensions for many. In this report we analyze efforts underway to tweak or even overhaul pension systems in Brazil, Chile, Mexico, Peru and Central America and the Caribbean.


  • The Problem with Defined Contribution Pensions
  • The Private Pension Plan Pioneer
  • Peru Takes a Page from Chile’s System
  • LatAm’s 2 Main Pension Challenges
  • Competition in Chile’s Market is Just Getting Started
  • Brazil’s Embattled Pension System
  • The Reform Gets Personal
  • Cracks in Mexico’s System
  • AMLO’s Reform
  • Elsewhere in the region
  • Why AMLO’s Proposal May Not Be Enough


Allan Brown, Rogerio Jelmayer, James Young

Sebastian Perez-Ferreiro

Pages (English Version)

South America Central America Caribbean Mexico