Demographic Changes in Latin America
Cover -- Contents -- Abstract -- I. Introduction -- II. Background-A pension system primer -- III. Background-Demographic trends -- IV. An integrated methodology to assess public pensions cash flows and healthcare spending -- V. Key stylized facts about pension systems in LAC5 -- A. Pensions Baseline Results -- B. Pensions Reform Scenarios -- VI. Key stylized facts about healthcare systems in LAC5 -- A. Healthcare Baseline Results -- B. Healthcare Reform Scenario -- VII. Comparison with other projections -- VIII. Concluding remarks -- Appendix I. Addressing demographic uncertainty -- Appendix II. Methodology for public pension and healthcare projections -- A. Defined benefit public pension scheme -- The Number of Estimated Pensioners -- Cash Flows Under a DB System -- Contributions Under a DB System -- Net Government Cash Flow Under a DB System -- B. Alternative Pension Reforms on Government's Cash Flows Under a DB System -- Reduction in the Generosity of the Pension System -- Reduction in the Indexation of Benefits -- An Increase in the Contribution Rate -- C. DC Pension Scheme -- Per Capita Account Balance Under a DC System -- Government Spending, Revenue and Net Cash Flow Under a DC System -- D. Total Public Expenditure of Pension Systems -- E. Healthcare Projections -- F. Analyzing the Impact of Reforms on Healthcare Expenditure -- G. Calibration to Implement Toolkit -- References -- Tables -- Table 1. Baseline pension cash flow projections -- Table 2. A onetime increase in the retirement age by 5 years -- Table 3. Indexation of retirement age -- Table 4. Reduction of replacement rate -- Table 5. Reduction in the indexation of benefits -- Table 6. Increase in contribution rate -- Table 7. Dependency indexed contribution rate -- Table 8. Introduction of all reforms simultaneously -- Table 9. Transition from a DB to a DC system.