Comparative pension reform pathways in Latin America and Southern Europe: a tale of successes, failures, and future challenges

Angelaki, Marina and Carrera, Leandro Nicolas ORCID: 0000-0001-6561-9427 (2025) Comparative pension reform pathways in Latin America and Southern Europe: a tale of successes, failures, and future challenges. Journal of International and Comparative Social Policy. ISSN 2169-9763

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Abstract

Latin American and South European countries share a common policy legacy of public Pay-As-You-Go (PAYG) pension systems, yet reform paths taken over the past decades between and within the two regions have varied. Latin American countries opted for the full or partial privatization of their public pension systems, yet subsequent reforms have challenged the public–private mix. Meanwhile, countries in Southern Europe opted for a less radical path, entailing different degrees of reform of their public pillars and the introduction of supplementary private ones. Our analysis focuses on Argentina, Chile, and Uruguay – in Latin America – and Spain, Italy, and Greece – in Southern Europe – and the reforms implemented since 1990. In understanding reform variation, we argue that by focusing on the role of political institutions and policy legacies, it is possible to identify reform mechanisms.

Item Type:	Article
Additional Information:	© 2025 The Author(s)
Divisions:	Public Policy Group
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Date Deposited:	03 Jul 2025 08:48
Last Modified:	31 Jul 2025 16:21
URI:	http://eprints.lse.ac.uk/id/eprint/128623

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